July 2010
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Top 5 Success Factors in Ukraine

StartInUkraine focuses on guiding and assisting foreign companies on a daily basis to ensure that they have realistic vision of their potential business in Ukraine as well as they take deliberate and well-thought management decision in Ukraine.

Drawn from our experience with many clients, we have come up with a brief overview of the top 5 success factors for foreign company in Ukraine. When our clients set up a business we tackle these issues in details, guiding the client through the seed stage.

Record devaluation of Hryvnya! Good news for foreigners?!

Ukrainian Hryvnya demonstrates record devaluation against dollar and euro. This factor significantly impacts on business, especially international trade and investment activities.
We are not going to analyze the reasons of such situation. Instead, we will examine the positive sequences of domestic currency rate downfall for a) cost of doing business b) export c) competition d) investments e) business tourism and services.

Tips for coping with Ukrainian habits!

Effective communication is a key factor to your business success in Ukraine. Knowledge of basics of Ukrainian culture will let you feel confident, look intelligent and be persuasive with locals. Once you set correct Ukraine-related expectations, nothing will become disappointing or irritating.

Although Ukraine is a part of Europe geographically and historically, we are not classical “Europeans”. In our emotionality we are more similar to Southern Europe. The cartoon below, although devoted to Italy, will help you to understand Ukraine as well.