5 rising Business centres in Europe

Thursday, May 9, 2013

5 rising Business centres in Europe

As business becomes more internationally focused, established businesses are looking to set up branch locations.  While there are several lists available from the business media, there are several locations that appear on most lists as locations that are helpful toward business and have an economy that makes it possible to set up a business or a subsidiary reasonably in terms of finance and regulations. 

Image credit: ferli / 123RF Stock Photo

These promising locations speak languages that may be new on the business front and not easy to understand.  However, if a company is going to be successful in one of these locations, it needs to be able to market itself to local and international customers as well as become part of the community which also requires language proficiency.  While not everyone who will be setting up a business in one of these countries will become fluent in the home language, there has to be a means of communication between owners and managers and their customers and workers. 

Here is the list of 5 rising business centres in Europe

Russia – Russia has been the site of drastic changes over the past sixty years.  Going from the principal socialist nation to being split apart as former protectorates establish themselves as independent nations, Russia has moved into a position as a strong contender for international business.  Rich with natural resources and sporting sufficient grounds, Russia is attracting both new businesses and established companies are seeking to establish European branches.  Russian is the official language of Russia, with different dialects dependent upon region.  While most of the protectorates speak their own language, most of the business population in these countries also speak Russian and either German or English. 

Poland – Poland is slowly coming into its own after spending most of its existence under the thumb of either Germany or Russia.  Featuring low taxes and a well-educated workforce that wants to work, Poland has moved into a highly competitive state for business in the marketplace.  Poland has benefited from funds from the EU, so its infrastructure is well-developed and new.  Accounting laws are those of the EU and experienced Polish accountants are willing to work at a reasonable pay.  English is the second language in Poland for many residents – the first language being Polish. 

Estonia – Estonia has emerged as a leader in technology, making it an ideal place for internet- and technology-based businesses.  With its central location adjacent to the sea, it can provide for the easy transportation of goods and visitors via sea, land, and air.  As a part of the EU, Estonia’s economy is safe and growth-oriented with an educated, technologically savvy workforce.  Safe and secure, the country has minor problems with violence with most crime occurring as credit card fraud.  The euro is the currency of choice in Estonia.  Estonian is the primary language of most of the citizenry with some also speaking Russian.  English is not widely spoken.

Turkey – Turkey sits at the cross roads of Europe both geographically and culturally. It is a delightful blend of east and west, old and new.  Sitting on two continents and sharing eight borders with other countries, Turkey is a logistic dream -- easily accessible via surface, air, and sea.  With a highly diverse workforce, businesses should have no problem finding the workers.  The Turkish government is extremely supportive of business and is interested in encouraging businesses to call Turkey home.  The official language is Turkish; however, there are a variety of dialects and other languages that have been brought into Turkey by immigrants.  English and Arabic may be spoken in key metropolitan areas, but most business is conducted in Turkish.

Slovakia – Slovakia has become an economic leader in Central Europe.  Open to business with a strong economy, Slovakia is quickly becoming an attractive option for businesses considering settling in Europe.  As a member of the EU, the euro is the unit of currency, and it has a stable government that is well-respected and open to business.  Workers in Slovakia are truly well-versed in engineering, high-tech fields, and production.  Being the “Gateway to the Balkans”, Slovakia offers businesses the opportunity to move their products into the Balkan States, opening up new markets to them.  The official language is Slovak, however, because of the export nature of business in Slovakia, much of the workforce speaks English and German. 

Sometimes it is difficult to decide where you are going to set up a branch or new business, especially when you are looking for a good location in Europe at a reasonable cost.  By looking at the up-and-coming countries, you will be able to take full advantage of encouraging governments, open markets, and a strong, willing workforce.  While language may be an issue at first, most business executives will find that their employees will acclimatize and find a way of communication that suits everyone.

About the Author-

Michael Bastin operates BeTranslated.com Translation Services, a network of professional translators service business around the world.

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