Starting entrepreneurial activities while unemployed
If you start up new entrepreneurial activities while unemployed, you have the right to obtain adjusted daily allowance for at least the first 4 months of entrepreneurship. The TE office will determine after the first four months of new entrepreneurial activities, whether the activities are full-time or part-time.
Income generated from your business activities is adjusted with your daily allowance according to provisions concerning the adjustment of allowances. If the activities are deemed part-time after the first four months , an adjusted allowance is paid. If however the entrepreneurial activities are deemed full-time, the fund can no longer pay daily allowance.
Send a monthly income statement
Income earned from business activities is primarily adjusted based on accounting records. Send attached to your allowance application a monthly income statement . A profit and loss account may also be formulated freely if you are not liable to keep accounting records. If your form of company is limited liability company, attach a pay slip to your application.
We recommend that you send the allowance application and required attachments via the Entrepreneur Fund’s eService.
Income earned during unemployment is adjusted with your daily allowance. Part of your income is protected from adjustment, this is called the standard entitlement. The amount of the standard entitlement is usually € 300 per month, but has now been temporarily increased to € 500 per month until 30 June 2021. This is a temporary amendment to alleviate the effects of the pandemic.
Any share of your income exceeding the standard entitlement is adjusted with the allowance. As a rule, 50 per cent of the income exceeding € 500 is deducted from your daily allowance.
Your monthly income: € 500
Income exceeding the standard entitlement: € 0
Effect on your allowance: No effect, daily allowance is paid in full
Your monthly income: € 800
Income exceeding the standard entitlement: € 300, of which 50 per cent is € 150
Effect on your allowance: € 150 is deducted from your allowance
Calculate your adjusted allowance
Calculate your estimated adjusted allowance using our daily allowance calculator. linkki