Guide to doing Business with Russia

Profile: Guide to doing Business with Russia

Today, Russia stands strong as a potential business market and many entrepreneurs are seeking to do business with this country. Also, the increasing stability of Russia’s political situation and its strong economy makes it a magnet for foreign companies that are looking to invest and expand in Russia.

Entering the Russian business market will require flexibility, foresight and innovation on your part. The business market base consists of over a 100 million people and as a result the consumer goods sector is ripe for new products and expansion programs. Once you decide upon which product or service you are going to market, it is necessary that you set up local establishments for production, distribution and marketing.

Other sectors where Russia generates great demand among foreign investors include brainpower, telecom and technology. You can invest in any or all of these sectors and expect to see a lucrative profit.

The key to creating a successful business in Russia is to locate a trusted Russian business partner or local contact. This is because doing business in Russia is more about connecting with the people rather than a paper contract. The Russian people value integrity and loyalty and hence it is important that you honour your contracts and not renege on your deals. Another advantage of establishing strong and motivated local contacts is that these individuals will be able to locate the right deals and cement new business ventures on your behalf. Also, if you do not have a good translator in your employ, your business partner could effectively handle this situation.

The vast size and reach of Russia’s economy allows for new multinational companies to invest in this country without worrying about competition for business.

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SJ International Freight Services Limited, UK have head offices in Bristol, England and Cardiff, South Wales.

Tel: +44 (0)117 932 1160
Fax: +44 (0)117 932 6572
Email: Bob.Feltham@rsj-international.co.uk~
or Steve.Frost@rsj-international.co.uk

Unit 16, Keynsham Road, Willsbridge, Bristol, UK.