How To Start A Business Russia Table of Contents
If you want to start your business in Russia, it makes sense to know their business culture, so you don't annoy them with your own style. Hence, this post will help you to know the business culture in the country and how to start your business in the country.
Punctuality is key when dealing with your Russian counterparts. However, they may not do the same at first; but don't be fooled, they are just trying to test you. So, when you are meeting your Russian business associate for the first time, do the needful. This how to start a business Russia approach will help you not to fall into Russians trap at first.
The decision-making process takes the top-down approach. To be successful with your business in Russia, you'll need the help of a local. Small gifts can help you to get their attention. So, it makes sense to use present gifts to your business partners in Russia. The negotiation process can be slow in the country; hence you need to exercise some patience when doing business with Russians.
Russians are really slow when it comes to decision making and after your first meeting with them, they'll go back and make some decisions in private before taking any step. However, if you're looking for how to start a business Russia, always exercise some patience when dealing with your business associate in the country.
When it comes to greeting, a firm handshake is the best form of greeting with Russians. Don't ever shake your business counterpart with gloves on as this is considered rude in the country.
Don't address your Russian business partner with their first name unless you're told to do so by the person.
Russians like it when a foreigner speaks their language, so you can learn the basics and try to use those basics when having a conversation with them.
During any conversation, don't just be a listener try to be part of the conversation. Also try to avoid topics like Czarism and monarchy, Holocaust, conflict with ethnic minorities, etc. These are topics foreigners must refrain from in Russia, so if you are looking for how to start a business Russia, you must take note of this.
The best dress code is casual; this is for both men and women. If you are invited for dinner, go with a gift, and while having dinner with your associate, allow them to take action first. For example, you should allow them to start eating before you.
Business cards are mostly exchanged in the country and there is no general rule when it comes to presenting a business card to your business associate. But it is advisable to use the Russian language on one side of the business card.
For foreigners who want to start a business in Russia, make sure your visa permits you to do that.
Once you are sure you have a permit to start a business in the country, choose a product for your business. If you have already picked a product or service to offer, then the next thing will be to research and find out if the product or service is needed in the country and the rate as well. This will help you to establish a viable business. Without it, you might end up doing the wrong thing; this research will also help you to take the right step in the right direction.
If you truly want your business to be successful, write a business plan to guide the business. It helps you to build a solid business. Hence, if you are thinking of how to start a business Russia, make sure you craft a business plan which will serve as a guide for running your business.
Choose the right business structure for your business in the country.
Don't just pick a name for your business, instead choose a name that suits your business type and make sure it is available. It is recommended that you use the same name as your domain name when creating a website for your business.
The next step will be to open a Russian business bank account for your firm. The process can be complicated but you have to follow those strict measures to get your business bank account and start operating your business in the country.
Scroll down to read our indepth Russian Business Ecommerce Platforms guide. What you should know, Russian Business Ecommerce Platforms features, price plans and support. Pros and Cons of Russian Business Ecommerce Platforms as a ecommerce, everything is explained below.
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