In this article you will find information about doing business in Baltic states:  why and how you should do it.

Nowadays when crisis and recession are common words in business language, more and more business companies are thinking about possibilities to improve their price competitiveness.

One way to do this is by accessing new markets. Outsourcing the whole manufacturing process and other works in to the Baltic countries allows to save money on manufacturing costs and retain the same high quality.

For example Lithuanian furniture and metal makers are well-known in other EU countries as high quality and very versatile sectors. These sectors are very important to the whole economy of Lithuania and now face some problems because domestic market is shrinking. That’s why they are ready to manufacture products for foreign companies at very competitive price levels.

Tendency to search for partners in foreign countries in order to lower production costs is increasing. Foreign companies that were satisfied with the collaboration with Lithuanian and other Baltic companies recommend subcontracting for their business partners and more firms every day search for B2B opportunities in the Baltic region.

Other way to reduce manufacturing costs is to find suppliers in the Baltic region for needed materials.

These opportunities to find new competitiveness sources in Baltic region result in increasing profits and forging of  priceless long-term business relationships,.

The problem is, however, to find the appropriate business partner in this region. Because of some issues (for example language barrier or unknown potential partners’ capabilities) foreign business enterprises are having difficulties finding the partners they need. To solve this problem they are hiring business agencies, which have contacts and possibilities to access these markets, search, check and select the most suitable partners for successful long-term collaboration. The biggest advantages of these business agencies are that they have a lot of experience in this region and have prepared a package of helpful services that allows create maximum gain for foreign companies by finding a perfect business partner.

Usually brokerage enterprises are willing to create long-term business relationships because this way they can satisfy needs of their customers more stably and constantly. And as we all know - satisfied customer is the most important thing in successful business.

On the 26 March, 2009 Baltic Business Gates participated in the matchmaking event organized for furniture market firms. The event organized by Lithuanian Development Agency was attended by nearly 100 participants from 9 European countries: Denmark, Sweden, Finland, Great Britain, Austria, Estonia, Latvia, Lithuania and the Netherlands. There have been held almost 700 individual meetings of the furniture and timber industry representatives willing to find suitable business partners abroad.
The staff of Baltic Business Gates presented the representatives of foreign companies with business development opportunities in Lithuania and explained the immense potential of possible collaboraton. Most of the meetings took a real success and was also fostered new contacts, which, after the exhibition are further developed.
After the meetings we identified the obstacles that hider the expansion of Lithuanian furiture and timber exporters. We are now actively working on solututions to these problems.
Although the majority of the opinions about the furniture market development in 2009 were quite pessimistic, some sectors turned out to be in good position to weather the downturn and serve as rescuers for Lithuanian furniture and timber industry representatives.

Information updating.