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5 tips for doing business in Russia
June 2010
Russian culture and history is complex and varied, as are its people. Understanding a few basics of etiquette can help you improve your chances of successfully doing business in this fascinating country.
1. Establish personal business relationships
Russians place a very high value on trust in their business relationships. Informal networking can be a very useful activity, as it will help you develop connections and relationships that can assist you in your business goals. Gifts are normally a welcome part of developing a new relationship – things like fine dessert items and good wine are often appreciated.
2. Know the rules for dining (and drinking!)
Russians also generally like to socialise over food and drinks. Business dinners are becoming increasingly popular, and serious business deals often take place after 6pm. Expect your fellow diners to smoke throughout the meal, and be prepared for a lengthy evening. If you are asked to take a drink, you should do so, and expect to participate in a toast. However, you may find that your Russian colleagues will consume far more alcohol than you’re used to – so know when to stop drinking!
3. Successfully navigating negotiations
Russians do not like being rushed into making a decision, so you will need to be patient in reaching a decision on an important issue. When negotiating under a time limit, try not to let your Russian counterparts know this as they will try to use the deadline to their advantage. Also be prepared for somewhat “fiery” theatrics; it is possible that the Russians will become angry, walk out of the negotiations, or threaten to end the business relationship in order to achieve their goals. The best strategy is to simply remain calm and stand firm – they will respect your principled approach.
4. How to handle meetings
Meetings should always be scheduled by appointment, and as far in advance as possible. Expect particularly long waiting times to meet with government officials. You should plan to arrive on time for any scheduled meetings or appointments, but don’t be surprised if you are asked to wait. If the meeting is being conducted by Russians, expect a long period of socialising and conversation before the business part of the meeting begins. Also keep in mind that Russians will expect comprehensive information and detailed presentations which cover various aspects of an issue or project. At the end of the meeting, you may be asked to sign a document summarising what was discussed and any outcomes.
5. Business cards
Business cards are very common in Russia and are often exchanged at meetings, so be sure to have a good supply to hand out. Exchanging cards can be very formal and should be taken seriously – be sure to actually look at a card when it is presented to you before putting it away.
For further information on Russia, check out the Russian National Tourist Office
Hard facts about the Russian Federation:
Population: 142,008,838
Currency: Ruble (RUB)
GDP per capita: US$11,807
Human Development Index: 71 (Japan 8th)
If you enjoyed this article and missed the articles of our series, then please check out:
8 tips for doing business in Germany
10 tips for doing business in China
5 tips for doing business in the USA
10 tips for doing business in India
1. Establish personal business relationships
Russians place a very high value on trust in their business relationships. Informal networking can be a very useful activity, as it will help you develop connections and relationships that can assist you in your business goals. Gifts are normally a welcome part of developing a new relationship – things like fine dessert items and good wine are often appreciated.
2. Know the rules for dining (and drinking!)
Russians also generally like to socialise over food and drinks. Business dinners are becoming increasingly popular, and serious business deals often take place after 6pm. Expect your fellow diners to smoke throughout the meal, and be prepared for a lengthy evening. If you are asked to take a drink, you should do so, and expect to participate in a toast. However, you may find that your Russian colleagues will consume far more alcohol than you’re used to – so know when to stop drinking!
3. Successfully navigating negotiations
Russians do not like being rushed into making a decision, so you will need to be patient in reaching a decision on an important issue. When negotiating under a time limit, try not to let your Russian counterparts know this as they will try to use the deadline to their advantage. Also be prepared for somewhat “fiery” theatrics; it is possible that the Russians will become angry, walk out of the negotiations, or threaten to end the business relationship in order to achieve their goals. The best strategy is to simply remain calm and stand firm – they will respect your principled approach.
4. How to handle meetings
Meetings should always be scheduled by appointment, and as far in advance as possible. Expect particularly long waiting times to meet with government officials. You should plan to arrive on time for any scheduled meetings or appointments, but don’t be surprised if you are asked to wait. If the meeting is being conducted by Russians, expect a long period of socialising and conversation before the business part of the meeting begins. Also keep in mind that Russians will expect comprehensive information and detailed presentations which cover various aspects of an issue or project. At the end of the meeting, you may be asked to sign a document summarising what was discussed and any outcomes.
5. Business cards
Business cards are very common in Russia and are often exchanged at meetings, so be sure to have a good supply to hand out. Exchanging cards can be very formal and should be taken seriously – be sure to actually look at a card when it is presented to you before putting it away.
For further information on Russia, check out the Russian National Tourist Office
Hard facts about the Russian Federation:
Population: 142,008,838
Currency: Ruble (RUB)
GDP per capita: US$11,807
Human Development Index: 71 (Japan 8th)
If you enjoyed this article and missed the articles of our series, then please check out:
8 tips for doing business in Germany
10 tips for doing business in China
5 tips for doing business in the USA
10 tips for doing business in India