Enterprise financing in Estonia can now be applied to online
Estonia is systematically implementing its digitalisation strategy. The measures aim to transform not only the public sector but also the private sector. For example, financing enterprises in Estonia through the official portal eesti.ee is now possible.
Overview of updates
The state resource has expanded its functionality. Specialists have added new services designed to simplify the activities of entrepreneurs. Initially, the portal provided tax returns, applications for benefits and other documents to the population. Recently, however, the resource has focused on serving businesses. Entrepreneurs can now register for government funding through a dedicated business section of the website. They can also find the relevant application form and the conditions for receiving funding. There are several Government Departments involved in helping to get started, including:
1. PRIA – a department dealing with agricultural registers and information;
2. RTK – a centre providing support services;
3. EIS – a fund for entrepreneurship and innovation;
4. KIK – a centre that invests in the environment.
In the future, there will be a list of other institutions that can be sources of funding for business projects.
According to PRIA’s Ava Tamman, the project aims to support business development. The government is trying to provide comprehensive support to the private sector in the country. It does this by introducing appropriate policies and initiatives targeting different economic sectors.
Importance of new services
Another new service is Urgent Obligations. In this section, business representatives can familiarise themselves with information from various government agencies. First, there is a list of obligations that each institution imposes on businesses. These include various types of reporting, financial obligations, etc. In addition, entrepreneurs can familiarise themselves with the list of services provided by the designated government agencies. The section already contains information from the Bank of Estonia, the Statistical Office, and the Trade Register.
Such information helps entrepreneurs avoid mistakes when dealing with state institutions. The portal provides entrepreneurs with detailed information about their obligations and their deadlines. This service will be particularly important for young companies. They are just getting acquainted with the existing rules and do not know all the nuances. On the portal, representatives of such companies will find a lot of useful information and be able to better understand the activity’s peculiarities. In addition, reports to a number of authorities can now be submitted through the site, saving time for all parties.
Over time, the developers promise to expand the range of services available to entrepreneurs. The aim is to digitise as many processes as possible in order to improve efficiency. Some of these are still technically difficult to implement, but specialists are working to solve the problems.
