Funding options for small and medium enterprises in Latvia
Before the COVID-19 pandemic, Latvia’s economy grew at a steady rate that was higher than the EU average. From 2011 to 2019, Gross domestic product became 3.3% each year on average. In 2019, the development of the economy turned out to be more moderate. Gross domestic product grew by 2% in 2019. In 2020, the […]
Key considerations for establishing a sustainable business in Latvia
In today’s dynamic world, a company’s ability to be sustainable is essential to its success. Setting preservation as a top priority helps conserve resources, gives business owners an upper hand, and encourages consistent development. Anyone considering launching a sustainable business in Latvia, a country known for its commitment to environmental preservation, must understand significant variables […]
Key considerations for establishing a sustainable tourism business in Latvia
Latvia is becoming a more and more well-liked travel destination because of its breathtaking natural scenery, extensive cultural history, and energetic cities. Companies in the Latvian tourist sector must adopt green procedures as the trend for eco-friendly travel rises on a global scale. The main factors that business owners and organizations in Latvia should take […]
Key considerations for foreign entrepreneurs starting a business in Latvia
Latvia, a country in Northern Europe’s Baltic area, provides prospective international business owners with a hospitable corporate environment. Thanks to its advantageous location, highly qualified workforce, affordable pricing, and tax benefits, Latvia offers a plethora of business growth options. However, it is crucial to comprehend important factors that might lead to a prosperous company foundation […]
Effective talent acquisition and retention strategies in Latvia
Recruitment is just one aspect of your talent acquisition strategy. Promising prospects will be drawn in by a forceful strategy, which will then engage them and make them long-term workers. Employers rely on the individuals who contribute to the company e.g., the people that stay up late perfecting presentations and those who mentor other coworkers. […]
Establishing a fintech startup in Latvia
The Latvian fintech market is well-diversified and expanding. Around 400 startups and 100 active fintech firms in the nation indicate there is a significant possibility for new enterprises in this sector. You must choose the precise fintech product or service you want to provide if you want to launch a fintech business in Latvia. It […]
Employment laws and hiring practices in Latvia
In June 2002, the Latvian Labor Code was amended following EU regulations. The rights to work, equitable and fair compensation, and safe working conditions for workers are all included in the law. Trade unions and collective labor agreements are recognized under Latvian legislation. Employees and employers may join forces to create trade unions that will […]
Employee benefits and compensation packages in Latvia
Offering competitive perks and compensation is one of the secrets to keeping exceptional workers. The legislative minimums for Latvia must be included in every company’s benefits management strategy. To distinguish themselves from other companies, they might also provide extra advantages. The Labor Code and other national laws in Latvia define the standards for remuneration. Although […]
Effective financial management for companies in Latvia
The startup and growth of a company depend on successful financial management. It entails organizing, regulating, and monitoring your financial resources to accomplish your company goals. Effective resource use, stakeholder satisfaction, competitive advantage, and long-term financial stability are all benefits of good money management for your company. Your Latvian company should integrate financial management into […]
E-commerce business registration in Latvia
Electronic commerce (e-commerce) is quickly expanding in Latvia, creating significant prospects for businesses. Every day, more than 90 percent of the country’s adult population accesses the Internet. Doing business in Latvia requires the registration of a company. Only after registration is the company regarded as a legal entity, allowing it to lawfully engage in transactions […]