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Right to the Entrepreneurs

Minister of Employment Haatainen: Labour market support to entrepreneurs will continue until 30 June 2021

Ministry of Economic Affairs and Employment 28.1.2021 12.30PRESS RELEASE

Minister Tuula Haatainen

The right of entrepreneurs to claim labour market support will continue until the end of June 2021. The Government decided on the matter on 27 January 2021 and the Ministry of Economic Affairs and Employment will start preparing the legislative amendment immediately.

Entrepreneurs have been temporarily entitled to labour market support if full-time work in the company has ended due to the coronavirus pandemic. The temporary extension to entrepreneurs’ right to unemployment benefit currently in force is scheduled to end on 31 March 2021.

“Many entrepreneurs continue to feel the pinch because of the coronavirus epidemic. During the crisis, labour market support has provided security for small entrepreneurs, in particular, whose livelihoods have become increasingly uncertain. There is clearly still a need for this support, so we will begin urgent preparations for legislation to continue it,” Minister of Employment Tuula Haatainen says.

The right to labour market support for entrepreneurs does not depend on the type of business. In principle, all entrepreneurs are entitled to the support as long as they meet the conditions for it. 

“It has been our aim to make labour market support for entrepreneurs a simple benefit so that it can take into account the different situations that people find themselves in,” Haatainen adds.

Last year, the Social Insurance Institution of Finland (Kela) paid labour market support to 44,000 entrepreneurs, for a total amount of EUR 165.8 million.

What are the conditions for an entrepreneur to be eligible for labour market support.

Entrepreneurs are temporarily entitled to labour market support to deal with the sudden and unforeseen decline in demand due to the coronavirus epidemic. Labour market support is one form of unemployment benefits.

To be eligible for labour market support, an entrepreneur must meet the following conditions:

  • full-time employment of the entrepreneur has ended or
  • the monthly income from the entrepreneurial activities is less than EUR 1,089.67 per each person engaged in these activities as an entrepreneur.

The end of the person’s full-time work or the reduction in income must be due to the coronavirus epidemic. The entrepreneur does not have to cease their business activities in order to receive labour market support.

In order to receive labour market support, a person must register as a jobseeker with the TE Office and the TE Office must issue a labour policy statement on their entitlement to labour market support to Kela. The entrepreneur can then apply for labour market support from Kela.

By Naresh Sagar

Mentor MSME, Motivator, Media Event Org, Management fiscal & Water management.Social Media branding,Internet broadcasters,Propunder of Indian Philosophy

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