Working or developing a business with Russia demands patience and an awareness of the country’s distinctive culture. For firms wishing to increase their worldwide presence, the Russian Federation provides a plethora of new prospects. However, it is vital to remember that doing business in Russia involves certain complexities. Since 2014, several sanctions have been imposed on Russia, and the invasion of Ukraine has resulted in more penalties.
Here are some important things that one needs to adhere to while doing business in Russia.
Business Mentality
Although English is frequently taught in schools, Russian is the official business language in Russia. It is best to hire a legal firm to protect you from the lack of regulations relating to business loss reimbursements, damage recovery, and fraud when doing business in Russia. Russian businesses must also follow stringent technical regulations, so brush up on your knowledge! Russians prefer to get to the point as quickly as possible, so bringing up profitability early in the discussion will work in your favor. Avoid any type of conflict or confrontation, as well as hard selling techniques. Also, Russians do not usually make a major decision in a meeting; instead, they deliberate in private afterward.
Conversations
Russians are particularly fond of children therefore if you are a parent, do not be shy about showing images of your children. Avoid issues like your criticisms of Russia, the Holocaust, Czarism and monarchy, disputes with ethnic minorities, and comparisons of Russia to other emerging countries. They have a propensity of accepting mobile phone calls at strange times, such as in the middle of a conference or meal. In public, Russians tend not to talk too loudly. Furthermore, verbal communication is seen as more trustworthy than written communication.
Patience and Considerations
Patience is highly valued and regularly tested in Russian business. You might have to wait for your business partner. Russian businesses have a charming and paternalistic style of leadership. Traditional Russian corporate culture has rigid hierarchies, which leads to some bureaucracy. Knowing the right people in the right places might help you avoid bureaucratic roadblocks. In Russia, you can only succeed if you know the right people. The crucial terms are relationships and networks.
Negotiations
Talk to them as equals and avoid being condescending. If you have the upper hand, don’t exaggerate it; exaggerating your superiority might insult someone. They are often obstinate and prefer to calmly wait things out unless the opposing party is adamant in their opinion. Russians have a habit of demanding large concessions without providing many in return. They may incorporate minor changes in their initial proposal that they are already willing to accept. Because of their impatience, the other side may occasionally offer more concessions, giving them a better bargain. Do not inform your business partners about any deadlines or pressures that might be used as leverage.
The factors stated here are likely the most crucial to remember while doing business in Russia. The Russian government’s culture and business ethics may be significantly different from what you’re used to. Day Translations is the appropriate language services partner for companies looking to conduct business in Russia. Your whole brand message strategy must be personalized and tailored to the local target. And that can only be done efficiently if you have extensive knowledge of the subject.
