On 21st of February Latvian-Russian business club (LKBK) supported by the specialists of Staf-Alliance Security Group held a seminar for Latvian entrepreneurs called “What do you need to know before working with Russia?”
Yuri Pokalyuk, the head of the Informational Department and senior analyst of Staf-Alliance Security Group, made a report on significant aspects of cooperation with Russian business partners, covering following topics:
- Criminal methods in conflict management: fact or fiction
- Trust issues in business
- Business partners’ reputation check: is it necessary?
- How to organize the working process at a foreign company’s office in Russia
His speech coincided with the launch of Staf-Alliance representative office in Riga – SIA “SA West”.
Over 30 official partners and involved businessmen attended the event that took place at the Moscow House, one of the centers of Russian-Latvian business activity. Besides, a plan of the speech given and promo-materials of Staf-Alliance Security Group services were included in the LKBK newsletter which is being received by upward of 500 subscribers.
Latvian market entry was preceded by the deep analysis of security & consulting market as well as counselling with a number of industry experts. As the result, there was developed a special line of service for Latvia.
It is important to note that Latvian entrepreneurs are quite concerned in terms of cooperating with new companies rendering security services, since the market is already saturated by a big amount of domestic players. In order to save money many entrepreneurs try to check potential Russian partners by themselves – via open sources monitoring.
Apart from this, Latvian experts note that the amount of unreliable contractors (both Russian and Latvian) never decreases. Population of ‘businessmen’ approaching Russian investors with projects that are rather dubious in terms of realization also stays static. The overall situation is worsened by a common misconception that litigation in such cases is ineffective and unpromising.
During a discussion after the speech following questions were answered: “What is the competitive advantage of your company?”, “What resources in Russia do you offer?”, “How can one check a Russian investor in the most accurate and full manner?”
Yuri cited a lot of examples from the practical experience gained by Staf-Alliance on domestic and foreign markets. He also suggested tentative solutions of problems arising while establishing partnership with Russian companies and building relations with their shareholders and executives.
It is worth noting that the seminar was one of initials steps (if not the first step) taken by the company towards Baltic Region’s markets, and was mainly oriented on spreading information. To some degree it helped to develop existing business contacts and find new ones. According to the mutual decision of organizers, careful attention will be paid to listeners’ response to theses and suggestions presented.