Doing business in Estonia

Estonia is the smallest country of the Baltic States, but it has a well-developed economy. Skype, Transferwise, travelticket payment by mobile phone and voting in elections by mobile phone are a few of the important inventions that have propelled it forward. It is especially Finnish and Swedish companies that invest into and do a lot of business with this country. Estonia has a good infrastructure, a very well-organised ICT sector, and a highly-educated population. For this reason, it is the ideal location in which to set up high value production facilities. The IT skills that are present in Estonia are, above all, used by foreign companies to modernise traditional production processes. For example, a lot of office equipment is produced here for the European market.

Estonia is also a significant supplier of wood and paper. Packaging companies do a lot of business with Estonia. Due to Scandinavian influences, it is seen as being an easy country with which to do business, with no burdensome bureaucracy, and clear rules. The working language is Estonian. Do you plan to do business in Estonia? If so, our experts have put together a few tips on Estonian culture, which could stand you in good stead:

Tip 1: Preparation

Estonian business people come to meetings well prepared. The meeting and the agenda are planned in advance. Your first meeting will be formal and you will receive an introduction from your business counterpart. Then it’s time to you introduce yourself. However well Estonians speak English, it is still a good idea to get your brochures and documents translated into Estonian, to make everything clear and give a good impression. If necessary, hiring an interpreter could also be a good idea. Another tip is to get your business card translated into Estonian on one side.