Business Resources

A New Kind of Introductions Opportunity?

The focus of OdessaFX has applied to facilitating easy long-term living in Ukraine for English-speaking expatriates. Accompanying this is the intention to increase the amount of information available in English about Ukraine. The third step concerns making it easier to for expatriates do business in Ukraine.






And...there’s the matter of the global financial crisis. There’s no real need to go into this here except to repeat Warren Buffett,

“Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful.”

- Warren Buffett in his
letter to Shareholders, 2004

Or...buy low and sell high, and in many cases the global market has been doing anything but that in the past 3-4 years. Now that everything is for sale, it is a buyer’s market and there are plenty of smart companies and investors in a very good position to take advantage of it.


That last step is not the easiest thing to do, for several reasons. One is that Ukraine is ranked 139th of about 180 countries in terms of “ease of doing business”. That applies almost as much to native Ukrainians as it does to us foreigners. The primary differences are that native Ukrainians are more accustomed to the difficulties and are better able to navigate the attending bureaucracy especially as they are able to do so in their native language.

While there are some westerners who are fluent in Russian and/or Ukrainian, they are very few in number. The vast majority of those who aspire to fluency find that it is a frustrating, long-term effort. It is not simple. It is easier for Ukrainians to learn English on the simple basis that they have exponentially greater exposure via television, music, advertisement, and actual schooling in English. How many Russian television shows or songs did you ever hear in Amarillo, Texas or Puyallup, Washington?

So...that complicates things a bit; but not overly so. Doing business in Ukraine for most expatriates requires them to take advantage of the resources they do have – that their Ukrainian counterparts do not have. This includes at least two things, and probably more. The first is that you likely have a far greater fluency in “business English” and the second is that you likely have far more “English-speaking business connections”.

There are several barriers to overcome in practically applying these resources when going mono a mono. These barriers include finding opportunities that may be of interest to your connections, or vice versa. Thus, the matter becomes one of expanding your network to include qualified individuals and companies able to facilitate communications with a Ukrainian or Russian buyer or seller. Your role is facilitating communications with western buyers and sellers. This is normal business in Ukraine and involves a split on agent commissions – which can range from about 1 to 5% depending on what is involved.

So...back to the question, is this a new kind of Introductions Opportunity? No. Not at all. What is new is that the process of connecting has been made somewhat easier and simpler with what we’ve developed at Ukraine Business Development Group (UkrBDG). UkrBDG is looking for both buyers and sellers on a wide range of products, properties and services and would happily welcome you as a contact and prospective free agent. If this sounds like something of interest to you, please contact me.

Ukraine Business

Doing Business in Ukraine offered by www.doingbusiness.org (an extension of the World Bank) provides a comparative index and ranking of virtually all aspects of “doing business” in Ukraine in relation to 178 other countries.

Small Business Administration (USA) - A potential resource for statistics, good business practices and step-by-step start-up and follow-on advice even if the benefits and programs of this organization are not available to everyone. For citizens of the United States, the SBA is a first stop business planning resource, especially for veterans.

Also associated with the SBA is the Service Corps of Retired Executives deserving a listing even if the only thing they did was establish Small Business Power-Links. SCORE’s second real advantage is offering free counseling (consultation) from 1,400 volunteer counselors across 600 skills, a free service available online that helps achieve cost avoidance on paid consultation service that can run from up to (and sometimes over) $500 an hour.

Ukraine Economy, Jobs and Wages

The World Bank web site is an excellent source for research for virtually any country. It has an extensive library and archive of free downloadable documents. Sorting through it to find information of specific relevance to your interest may take some time, but that is time well-spent. You are effectively assured of finding qualified, high end data in its online library and elsewhere. Three documents in particular stand out as especially informative for any business with interests in Ukraine:


These are essentially in the same series. The first set is somewhat dated, but is comprehensive; while the second helps bring it up to date – thus appropriate to consider all three together with respect to jobs and wages, productivity, analysis of trends in both the public and private sector, impediments and catalysts to growth, and so forth. I would classify this as mandatory reading for any medium to enterprise level business considering activity in Ukraine.

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