Benefits of establishing a virtual office in Latvia
The advancement of the internet and communication technology has made doing business remotely more straightforward. The upkeep of a specialized office and expensive rent are no longer necessary for a firm to be present in a foreign market. Due to the accessibility of remote communications, business owners often resort to setting up virtual offices of […]
Choosing the right business structure for your company in Latvia
Choosing the right business structure is one of the most important choices you will have to make when starting a company in Latvia. Your company’s corporate structure decision will have a big impact on a lot of different things, such as liability, freedom to operate, taxation, and regulatory requirements. We shall examine the various company […]
Business ethics and anti-corruption practices in Latvia
In the Corruption Perceptions Index 2021 published by Transparency International, Latvia came in at number 39 out of 180 nations, indicating a moderate degree of perceived corruption. The government has been working hard to combat corruption and raise the status of the nation. A transparent and sustainable business environment is strongly supported by ethical business […]
Building a strong employer brand to attract talent in Latvia
Employers can easily find workers, but the most qualified candidates in the labor pool are aware of their value and are less likely to take the first job that comes their way. Instead, they seek an employer with a recognizable and reliable brand. How then can you concentrate on luring in and keeping top-notch applicants […]
Benefits of establishing a research and development center in Latvia
As part of the development of the European Research Area (ERA), Latvia is putting in place measures to align its research system with that of other member states of the EU. This is also to enhance its efficacy in accordance with international standards. There is a need to raise R&D expenditure and encourage the renewal […]
Challenges and opportunities in the Latvian retail sector
The retail industry in Latvia is still a major contributor to the national economy, providing customers with a wide choice of goods and services. The sector has a distinct mix of possibilities and difficulties as it develops. To give readers a general understanding of the Latvian retail industry, this essay will address five major obstacles […]
Business continuity planning and risk management in Latvia
Any organization’s strategy, no matter where it is, must include business continuity planning (BCP) and risk management. Businesses in Latvia must carefully handle specific risks and obstacles to guarantee operational resilience. This article will provide a general summary of Latvia’s risk management and business continuity planning procedures. Business continuity planning Creating plans and processes for […]
Building a strong company culture in your Latvian business
The culture of a firm is its personality. It is defined by a collection of values, beliefs, actions, practices, and attitudes. It distinguishes your firm and drives it to success. So, how can you establish a great corporate culture in your Latvian firm? Here’s how it’s done: Hire following the culture The most successful organizations […]
Benefits and challenges of outsourcing IT services to Latvia
In today’s business landscape, outsourcing has become the preferred approach for modern IT firms to manage various business tasks and bridge project gaps. By leveraging external support, companies can avoid hefty investments in recruitment and internal hiring processes. Over the years, this trend has gained popularity worldwide, and the Baltic nations, including Latvia, were among […]
Building a strong company culture in Latvia
A successful company plan has to be implemented by the entire company workforce. They must work together in unison while being motivated by the same values and goals. In other words, every company requires the right kind of culture—one that binds the teams together and produces the desired results. Culture is a dynamic, living phenomenon. […]