Doing Business in Russia
As a businessman, you are in a constant search of new business opportunities. But there has to be a good idea and accurate calculations behind every attempt. And of course the less competition – the better. While in Europe and USA most of the markets are shared between players thoroughly and intruding may be too difficult, there are vast possibilities for developing business in Russia. We’re offering you to get acquainted with the ones that are considered the most promising in the next five years. We hope this gives you some inspiration for starting a new business project.
Hi-Tech – wearables, robots and Internet-of-things (IoT)
Number one on the worldwide list of most promising directions for doing business is number one in Russia as well. Russia is especially attractive for these fields as there are plenty of qualified specialists (engineers, programmers etc). Living in Russia is cheaper than in Europe, so the salaries level is lower which is an advantage as well. Doing business in Russia in IT is attractive due to relatively cheap and qualified workforce.
There are thousands of online shops where people in Russia buy all sorts of goods – clothes, gadgets, home supplies and others. At the same time, there is a problem with timely delivery, as the main delivery company that works throughout all the territory of Russia is the national post company. Most people are not satisfied with how it works. Of course, the size of the country matters here too. But if a new innovative nationwide delivery company appeared it would have a lot of work to do. Such company could help bring the online retail business in Russia into a totally new level.
While there are plenty of private medical centers in capital cities, there is still a lack of them in large regional cities. According to recent surveys, people are now more eager than before to pay for a high-quality healthcare. If you are interested in opening private clinics or labs in Russia, pay additional attention to personalized approach. The best way to advertise your medical business will be mobile and YouTube advertising – according to marketers from “Yandex.Health” this is the main tendency for healthcare services now.
Ecology and environmental technology
Even having all their oil and gas supplies people in Russia start to look into the alternative energy sources. Though it’s a worldwide trend, it has certain peculiarities here. Your future prospects will want to equip their private houses with independent alternative energy sources. So don’t aim to build large solar power plants – a size that can fit the rooftop is perfect.
Another environmental business direction would be the waste management. Both industrial and domestic waste utilization programs are on the rise. If you have a new technology to offer, you will have the green light for all of your plans.
Crucial for a start
While all of the above seems very attractive, you need to remember, that only about 5% of people in Russia speak English on an acceptable level. Only less than 7 mln people claim to know the language. Most of them live in Moscow and Saint Petersburg, but there are more competition and fewer business opportunities in these cities. If you want to start a business and to work in a “Blue Ocean” for a while, you’ll have to go to a province. This is the main reason why you will need a strong knowledge of Business Russian language to start off.
One of the main advantages of our online Business Russian courses is that if you feel some particular vocabulary might be useful for your business goals besides the basic one, we will offer a tailored additional scope of words and expressions specifically for your business area. For example, if you plan to work in some branch of medicine or finance you will need to be acquainted with this field vocabulary. Our teachers will help you to master it fast, efficiently and in the comfort of your home thus to reach the necessary level in business Russian language.
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