News labeled entrepreneurship:

Local management teams at Fazer’s Amica units in Latvia and Estonia have agreed to buy the businesses in a management buyout transaction. SEB will provide financing worth 1.15 million euro to complete the deal. SEB in Latvia has also extended a credit and guarantee facility of 150,000 euro to promote further development of the Amica businesses in Latvia and Estonia.

SEB last week launched a new initiative in Latvia to help support start-up companies there. As part of the initiative SEB pays bills from new companies before their due date and has asked other large companies, municipalities, associations and incubators to give priority to start-ups in various ways.

What’s important when the bank is reviewing a loan application? What are the demands to extend the loan? How do you sell your business idea? With the new web based Financing game (Finansieringsspelet) you can prepare ahead of meeting the bank representative and thereby increase the chance for your application to be approved.

SEB and Swedish state-owned venture capital fund Industrifonden have invested a further 20 million Swedish kronor in technology company Coresonic AB, enabling the company to drive international sales and continue building a strong technology platform. SEB contributed 15 million kronor.

SEB Latvia and Riga City Council recently launched the Duka project which offers empty commercial space to entrepreneurs at no charge except the cost for utilities.

To facilitate tax-related calculations, SEB Latvia has published its Tax Calculator section on the web. The web site contains six different calculators that allow entrepreneurs to make calculations such as the VAT amount or the amount of vacation pay.