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International Internet Magazine. Baltic States news & analytics Saturday, 30.03.2024, 05:25

Latvian business owners pessimistic about growth prospects in 2015

BC, Riga, 19.02.2015.Print version
Businessmen are rather pessimistic about the growth opportunities in 2015, according to a survey of the heads of Latvia's largest companies carried out by PricewaterhouseCoopers, as the company's CEO and Chairwoman of the Foreign Investors Council in Latvia, Zlata Elksnina-Zascirinska said in an interview with the LNT show "900 sekundes" this morning, cites LETA.

According to the PricewaterhouseCoopers study, 34 company managers in 18 different industries admit that they expect no economic growth in Latvia this year. As for the future outlook of their own companies, respondents said that their companies will maintain current development pace or their growth pace will even increase.



 

Asked to name the main issues that require attention this year, business owners mentioned cost cuts and procurement of outsourcing services.

 

41 percent of companies said they will keep their current staff or increase it, while 16 percent are planning to reduce the number of employees.

 

Unlike foreign company owners, Latvian managers are less likely to establish partnerships with other companies or clients. Latvia is characterized by a focus on "new hunting grounds", Elksnina-Zascirinska said.

 

Companies are focusing on innovative environments, as well as resources, health, and competence of employees, she stressed.






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