Ukraine’s economy has experienced substantial recovery since 1999, benefiting from a favourable international context. On the one hand, foreign investments have increased, even though lagging behind some of its neighbours. On the other hand, the private sector has developed, both large companies and SMEs. Totally there are over 1 mln active businesses in Ukraine.
Ukraine has many potential competitive advantages: geographical location, infrastructure, low cost of workforce in combination with complete professionalism, and WTO membership.
Yet bureaucracy pulls Ukraine down to the 145th rank (from 144th last year).
While entering the Ukrainian market you always need local partners. A wide range of potential partners could be considered, depending on whether you wish to purchase or to sell a product or service, to distribute production or to start your own activities in Ukraine.
The main categories of the regional partners are:
- project developers;
- general contractors;
- governmental or semi-governmental institutions;
- joint venture partners;
- merger & acquisition partners;
- professional advisors.
It is recommended to ask a specialized company to help you to find qualified and motivated partners. After meeting potential partners you can choose the best match and start your cooperation.
Especially it concerns complex government dominated sectors, such as the aviation sector. The professional help of a partner who can bring you in contact with the decision makers and help you with the communication processes is essential. Most officials in state institutions do not speak English and the professional help, not only during the first meetings but also during the following phases of correspondence and negotiations, is essential to achieve success.
If you want to expand your business in Ukraine by establishing a local office or branch, the local advisors will provide assistance in findind a suitable business location and proper logistics, receiving necessary registrations, hiring qualified staff, will give legal and financial advice, etc.
Finally, the right partner, who has necessary contacts and knows how to realize the possibilities of subsidies or other support for entering the Ukrainian market, can help you to reduce the risks connected with starting business in Ukraine.