Build your wealth in Ukraine

One can ask why should I establish new business or acquire a company in a country with high economic and political instability. Isn’t it too risky? Should I wait until good times come?

If you are investor with sepculative strategy you definetely shouldn’t. Becuase your time is now!

Responding to the requests of our visitors we publish the single table which contains the mixture of quick figures to get general impression of Ukraine and level of its development.

You will find demographic, macroeconomic, business statistics as well as some market data and indicators showing the development of international cooperation o Ukraine.

In May 2009 Lviv City was tentatively selected as one of four host cities for the 2012 UEFA European Football Championship. Although final decision to be ratified by UEFA in the Autumn of 2009, Lviv has already made notable preparations for the event. The city is actively developing its transport, business and sport infrastructure to meet the needs of hosting 300’000 foreign visitors.

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.

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.

Today Ukraine is recognized as a great potential location for further development of international Business Process Outsourcing Companies, namely call-centers.

If you have a well-established business with modern technologies and proactive management, you need to consider carefully the opportunity to win this uncovered and underestimated market. Just think about big Russian-speaking region of 300 million people, forming 5% of world GDP, favorable location next to EU, excess of well-educated bilingual workforce and extremely cheap costs of doing business.

If you were a marshal of army, you would probably seek to attack when the opponent is weak. Similarly, when it goes about international business, you need to choice right time for your intervention to another country.

In despite of economic boom in Ukraine during 2004-2008, the vast majority of markets are still far from saturation. The competition is much more fragmented comparing with countries to the West. Many local players, dependant on lending, were knocked out by economic turmoil. Management culture as well as service level in Ukraine do not meet European standards. Thus, foreign firms with midterm and longterm strategies can take advantage by positioning themselves in Ukraine these days.

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.

What a miracle may cause currency devaluation. All of a sudden, just during few weeks at the beginning of 2009, everything in Ukraine ( goods and services, stocks and other assets, real estate and resources) became at minimum 50% cheaper in terms of dollars.

This is important for firms, trading with Ukraine, investing in Ukraine or utilizing local facilities.

Sometimes “a picture is worth a thousand words”. We have collected a series of video about Ukraine to let you feel the spirit of Ukraine.