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Workforce in Russia

Workforce in Russia

Russia is a state which can provide many business opportunities to both local and foreign investors. As a general rule, the success of any business is given by a set of different factors, such as the economic climate of the respective country, the taxation level, the policies carried out by the investors, but it also depends on the human resources. The employees are a representative aspect of any business, as their level of expertise on the respective field can help boost the level of the company. As for this reason, it is very important to study the characteristics of the Russian workforce when deciding to establish a business presence on this market; our team of Russian company formation specialists can provide assistance on this matter. 

Characteristics of the Russian workforce 

When opening a company in Russia is it important to choose a field which provides business perspectives in the country, but it is also necessary to see what is the degree of specialization of the workforce available in that sector. Russia benefits of a highly skilled workforce, which is one of the main sources attracting foreign businesses here. It is important to know that foreign businesses set up in Russia consider that the main attributes of the local economy is represented by the large consumer market and the specialization of the workforceour team of company incorporation representatives can offer more details. 

Foreign direct investments in Russia are made up in the manufacturing industry and the energy sector. These industries created a large number of jobs, but it is necessary to specify that, as a general rule, the Russian workforce is mainly concentrated in the following economic sectors: 

  • • services;
  • • industry;
  • • agriculture. 

Russian workforce and unemployment 

Although Russia had several economic issues, also shown in the total number of the employees, a crucial aspect of this industry is that the level of unemployment did not increase. It is actually set out at the lowest level since 1991. 

Our accountants in Russia can offer you the services you need in the company, to be able to align with the accounting procedures. Bookkeeping and payroll are among the most important. Also, every company must prepare annual financial statements in order to have a clear idea about the financial aspects of the company. We can also help you with audits, according to the procedures and legislation in force.

Persons who need to receive further information on the structure of the Russian workforce can address to our team of company formation consultants