Ukraine is the capital of not only freedom… How to sell to Ukrainian markets? And yes, even during the war!
Episode 15. Start Global Insights – podcast for exporters.
Ukraine is a country with a rich history and culture, and a growing economy. It is a land of opportunity for foreign businesses, but there are also some challenges that need to be considered.
In this episode we will talk about Ukraine and how to do business in this country, as even during
the war it has a tremendous potential for international trade.
We will discuss the challenges and opportunities of doing business in Ukraine. We will also provide some tips for foreign businesses that are considering entering the Ukrainian market.
To help me not to be biased about the country, I asked to help me the general manager of Cisco Ukraine, Serhiy Martynchuk.
Serhiy has more than 20 years of experience in sales and developing business in Ukraine and several other CIS countries.
Below is the summary of the conversation about Ukrainian market.
Listen the full episode on all major podcast platforms like Apple Podcasts, Spotify and YouTube Music and others.
Ukraine is a developing market with a lot of potential. The country has a young and educated population, a growing middle class, and a strong entrepreneurial spirit. However, there are also some challenges that foreign businesses need to be aware of, such as the complex regulatory environment, the lack of infrastructure, and the high level of corruption.
Biggest mistakes that foreign businesses are making entering Ukraine.
Serhiy Martynchuk: I think the biggest mistakes that foreign businesses are making entering Ukraine are:
- Not doing their research. Before entering any new market, it’s important to do your research and understand the local market conditions. This includes understanding the customer needs, the competitive landscape, and the regulatory environment.
- Not having a local partner. Having a local partner can be invaluable for foreign businesses entering Ukraine. A local partner can help you navigate the complex local bureaucracy, understand the local culture, and build relationships with key stakeholders.
- Not being patient. Ukraine is a developing market, and it takes time to build a successful business here. Don’t expect to become an overnight success. Be patient and persistent, and you will eventually succeed.
Negotiation culture in Ukraine.
Serhiy Martynchuk: I think the negotiation culture in Ukraine is changing. In the past, it was more common for negotiations to be zero-sum, with each party trying to get the best possible deal for themselves. However, I believe that there is a growing trend towards win-win negotiations, where both parties are trying to find a solution that is in the best interests of both. This is due to a number of factors, including the increasing internationalization of the Ukrainian economy and the growing sophistication of Ukrainian businesses.
Service requirements of Ukrainians.
Serhiy Martynchuk: Ukrainians are increasingly demanding high-quality service. This is due to a number of factors, including the growing middle class, the increasing awareness of customer rights, and the growing competition from foreign businesses. Businesses that fail to provide good service will likely lose out to their competitors.
Stereotypes about Ukraine quiz (true or false):
Serhiy Martynchuk also answered a few questions about stereotypes about Ukraine:
- To do business with Ukrainians, you need to have a strong liver as it is obligatory to drink to get trust.
Serhiy Martynchuk: Sometimes still yes.
- Ukrainians are not following rules or laws when it doesn’t suit.
Serhiy Martynchuk: I would not say exactly yes, but for example, there are some rules or laws that can be overruled by Ukrainians. It’s not because we are rule breakers. Just like this. I think that it is also because of the legacy of Soviet Union laws that are not correctly written. They are now changing and it could be better in the future.
- Salo and Borsch are the national treasures.
Serhiy Martynchuk: Yeah, that’s true.
- It was not safe to travel in the country even before the war.
Serhiy Martynchuk: No, completely not true.
- Freedom is one of the highest values among Ukrainians.
Serhiy Martynchuk: Yeah, that’s true.
Listen the full episode on all major podcast platforms like Apple Podcasts, Spotify and YouTube Music and others.
