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Should You Register as a Toiminimi or Oy? A Simple Guide for Finnish Entrepreneurs

Introduction:
Thinking about starting a business in Finland? One of the first questions you’ll face is:
Should I register a Toiminimi (sole proprietorship) or an Oy (limited liability company)?
Let’s break it down so you can choose what’s best for you.

🔹 Toiminimi (Sole Proprietorship)
✅ Pros:

Quick and cheap to set up
Lower accounting requirements
Great for freelancers, small-scale businesses

❌ Cons:You are personally responsible for business debts
Limited credibility for bigger deals or clients
Can limit funding or growth
👉 Best for: Solo entrepreneurs, interpreters, freelancers, driving instructors

🔹 Osakeyhtiö – Oy (Limited Liability Company)
✅ Pros:

Limited liability—your personal assets are safer
Better image and trust for larger clients
Easier to scale and take investments

❌ Cons:Requires more accounting (must have double-entry bookkeeping)
Annual reports and registration costs are higher
Requires a bit more paperwork
👉 Best for: Growth businesses, startups, long-term business plan

💡 Pro Tip from GLZ Financial Services:
Many start as a Toiminimi to test their idea, then upgrade to Oy when business starts growing. We help our clients do both smoothly—without surprises.

Conclusion:
Choosing between a Toiminimi and an Oy is an important step. It affects your taxes, risk, and growth.
📩 Need help registering your business? Let GLZ Financial Services guide you from idea to execution.