Business Opportunities in Russia

For the past couple of decade, Russian economy operated on the basis of a centrally planned economy. The state had complete control over production, investment and consumption throughout the economy. By 2000, although the exports were seen to be up slightly, the imports went down. This led to a trade surplus that expanded to billions. However, by 2001, the trend revered and there were more of imports than exports. The business opportunities in Russia would obviously depend on the export performance. The world prices have continued to have a leading effect on the commodities such as natural gas, metals, oil and timber.

Business opportunities in Russia have always been of inters tot the Western companies. With underdeveloped markets and abundant of natural resources, Russia definitely offers significant business opportunity. Although the past few years have witnessed great turbulence in the economy of the nation and socio-economic environment has seen extreme fluctuations, there are
still great business opportunities in Russia for big multinational companies, who are willing to operate in a high-risk environment. The Russian business environment has certainly become more favorable as there is some political stability under the leadership of Vladimir Putin. The Western concepts of financing, marketing, and advertising definitely apply to the Russian conditions provided that the local specifics are housed.

Where to find the business opportunities in Russia? The Russian population is very unevenly distributed over the vast country. The fact is that only one third of the total area is inhabited and outside these areas lies the uninhabited wilderness. The majority of the Russian population lives in big cities. Moscow and St. Petersburg are the two main federal cities. It would be business wise to divide Russia into Moscow, Saint Petersburg and 4 virtual regions that include the Russian million cities.

The world's second largest coal reserves lie in Russia holds reserves after the United States. In addition to fossil fuels, Russia also has rich reserves of metals and minerals. It is the largest forest country in the world. In order to look for the business opportunities in Russia, market and/or industry analysis and internal logic is needed to make some sound decisions. The right strategies need to be prepared before planning any further action.

As discussed above, the Russian economic environment is just right to explore business opportunities in Russia. The economic environment is fairly stable. Concepts such as consumer’s preferences, market distribution networks and market analysis are getting increasingly close to their counterparts in the West.

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