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High tax burden is biggest challenge for Baltic startups
BC, Riga, 30.05.2018.
Print version
Print versionThe high tax burden is the biggest challenge for Baltic startups in 2018, said SEB Banka spokesman Martins Panke, citing a survey conducted by the bank, informs LETA.
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He said that attraction of financing is also a significant challenge for the Baltic startups. Startups operating in Latvia and Lithuania also named difficulties to find qualified staff, while Estonian representatives see attraction of customers as a challenge.
The survey shows that the number of Latvian startups focusing only in the Latvian market has risen to 70%, 8% of companies wish to export, while 22% want to work both in the domestic and export markets.
The bank polled more than 1,500 startups in Latvia, Lithuania and Estonia that have been working for up to three years. The survey was conducted from December 2017 until January 2018.
SEB Banka is the third largest bank in Latvia by assets.
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