Labour market support for entrepreneurs to continue until June

The right of entrepreneurs to claim labour market support will continue until the end of June 2021, according to a government press release.

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,” said Minister of Employment Tuula Haatainen.

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,” added Haatainen.

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