Doing business in Macedonia

As a Balkan country which is a candidate for membership of the European Union, Macedonia is an interesting region for investment by entrepreneurs. When doing business abroad however, you always have to be aware of different legislation and regulations, and a business culture that may be quite different to what you are used to. Thorough the process, preparation is therefore essential. Our team has put together some tips to help you on your way in Macedonia.

Getting to know each other

The business world in Macedonia is quite formal, so it is important to know how to greet someone. In this case, it should be with a strong handshake, eye contact, and a greeting which is dependent upon the time of day. If you know the exact title of the person in question, you will make an impression if you use it. Otherwise, the surname in combination with Mr, Mrs, or Ms a good way of greeting someone. There is room for more informal contact but you should leave it to your Macedonian host or hostess to take the initiative.

Business agreements

Business meetings often take a long time in Macedonia. Your potential business partners will be very thorough and will examine a proposal from every angle. Don’t expect them to make any decisions fast. That said, it will be appreciated if you are to the point and if you support your information with visual material. Furthermore, do not be too aggressive in your negotiations.