At Spilbridge, Attorneys-at-Law, they specialise in challenging international business matters and for years they have been particularly active in the field of protection of foreign investors and their business in Latvia.
Spilbridge New YouTube channel offers video presentations on each member of our team and reflections on our experience in various practice areas.
What is the personal liability of board members and the CEO in the Baltic States? How can risks of liability be mitigated?
Join Eversheds Sutherland Bitāns free webinar to learn about:
📌 obligations defined by the law
📌 what is the liability for caused damages, case studies across the Baltics
📌 what protection tools should be used to mitigate the personal liability of board members and the CEO
The webinar is delivered by Eversheds Sutherland teams in the Baltics:
Learn more and register to the webinar here.
PwC’s Academy is launching two new webinar series: ESG Academy and Digital Academy.
PwC’s ESG Academy Latvija: Modern business leaders work sustainably, integrating social, environmental, economic and ethical factors into their business strategy. They recognise that engaging with all stakeholders – suppliers, customers, employees, shareholders and government agencies – is key to sustainable performance. The 3 webinars’ cycle will provide you with guidance on where to start, how to develop and improve sustainable practices in your companies.
PwC’s Digital Academy Latvija: When it comes to doing accounting or any other tasks where data processing takes a long time and where repetitive or similar actions and processes need to be performed regularly, it’s important to use tools that minimise manual work. Theoretical knowledge isn’t enough to extract, aggregate and analyse data from various external data sources and files stored on computer. That’s why under the guidance of PwC’s Digital Academy Latvia lecturer Artis Vizbelis we’ve developed a practical training programme that addresses situations and tasks with real examples from the perspective of everyday work.
BritCham Members are entitled to 15% discount (please indicate “BritCham Member” in comments section in the application form).
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BritCham welcomes our new member!
The British Embassy in Riga is looking to recruit a Head of Domestic Political Affairs!
The British Embassy in Riga is part of a worldwide network, representing British political, economic and consular interests overseas and is now looking to recruit a Head of Political (Internal).
Job Category: Foreign, Commonwealth and Development Office (Policy & Political roles)
Job Subcategory: Political
The jobholder will be a senior member of the Embassy’s Political Team and will lead on the following issues: domestic politics, economic analysis and reporting, and any related issues. The jobholder will build and maintain a network of contacts, and will advise Embassy’s senior leadership and teams on engagement with local politicians, academia, NGO’s, business representatives and journalists. The jobholder will draft and implement engagement strategies; lead on follow up to the UK-Latvia Joint Declaration; lead and coordinate relevant visits; and work closely with other officers and teams within the embassy to ensure coverage of cross-cutting issues. The jobholder will work with colleagues in Political team to share oversight of Post’s Communication and Public diplomacy work and advise on the Embassy’s public engagement. Oversight of Embassy’s Justice and Home Affairs (JHA) work including Citizens Rights, health, social care, and other related issues. Line management responsibility of the Political Officer (JHA).
Required behaviours: Seeing the Big Picture, Making Effective Decisions, Delivering at Pace, Communicating and Influencing
Application deadline 15 January 2023
Grade Higher Executive Officer (HEO)
Type of Position Full-time, Permanent
Working hours per week 37.5
Start Date 13 February 2023
This winter has been pretty rough and cold, and taking into account the increase of high, unexpected inflation, United Kingdom Government has energy saving tips to save money.
There are free, quick fix actions that you can take to immediately reduce the amount of energy you use.
Some of the tips and tricks how to save energy and money:
– Turning your combi boiler flow temperature down to 60°C could save you up to £100 a year
– Turning down radiators in rooms you aren’t using or use less could save you up to £70 a year
– Turning appliances off at the socket could save you up to £70 a year
– Washing clothes at a lower temperature could save you up to £40 a year
– Closing all your curtains and blinds at night
The BCC’s Quarterly Economic Survey (QES) for Q4 2022 shows key economic indicators have stabilised at concerningly low levels, following significant declines in Q3.
The survey of over 5,600 firms – 92% of whom are SMEs – reveals business confidence, conditions and sales have stabilised at low levels, while inflation remains the top external factor of concern.
The research took place between November 7 and November 30, across the period the Government’s Autumn Statement was announced.
Business activity not experiencing any bounce back from significant fall in Q3.
The percentage of firms reporting increased domestic sales has stabilised at the low level reported in Q3. Only 33% of firms experienced an increase in sales over the past three months, while 25% of firms reported a decrease in sales and42% report no change.
More firms continued to report decreased cash flow versus increased cash flow. Only 24% of business said their cash flow has increased over the last three months, while 30% have seen it decrease.
Business confidence remains at Covid-crisis levels.
After business confidence plummeted in Q3, firms continued to report a negative outlook for the future in Q4. Less than half (44%) of firms expect their turnover to increase over the next 12 months, while 25% expect a decrease. Those expecting turnover to increase remains ten percentage points down from a level of 54% in Q2 2022.
Profitability confidence remains much weaker than turnover confidence and has stabilised at Covid-crisis levels. Only one in three (34%) businesses believe their profits will increase over the coming year, while 36% now expect a decrease.
Little sign of plans to increase business investment.
Increases to business investment remain low. Only 21% of firms reported an increase to plant/equipment investment over the past three months, while 57% reported no change, and 22% reported a decrease.
Inflationary pressures remain top business concern
The percentage of firms expecting their prices to rise over the coming months (60%) remains near record highs but is showing slight signs of easing, down from 62% in Q3.
Concern about inflation also remains at record highs; 80% of firms cited inflation as a growing worry to their business. But there are also significant jumps in the percentage of firms concerned about taxation (38%) and interest rates (43%).
Check out the BCC Quarterly Economic Survey Infosheet
The British Chambers of Commerce (BCC) published an embargoed BCC Press Release on their latest research on the effectiveness of the Brexit Trade Deal with the EU, two years after it was launched.
New data released from a survey of more than 1,168 businesses (92% SMEs) shows significant challenges for UK firms trying to use the Trade and Co-operation Agreement (TCA).
The TCA was agreed on Christmas Eve in 2020 to allow tariff-free trade with the EU once Brexit took effect. But a high proportion of businesses say they are still having major problems trying to use the deal to trade with Europe.
The survey also found that alongside problems with the TCA, four in five (80%) firms had seen the cost of importing increase since January, more than half (53%) had seen their sales margins decrease and almost three quarters (70%) of manufacturers had experienced shortages of goods and services.
What Businesses Say
“Customs on both sides of the EU border seem to have a separate set of rules to be able to charge different amounts for the same thing. We don’t know until it’s too late what these costs are.”
Retailer in Dundee
“Leaving the EU made us uncompetitive with our EU customers. We would have lost all of our EU trade without a base in the EU. This has cost our business a huge amount of money which could have been invested in the UK had it not been for Brexit.”
Retailer in Ayrshire
“Exporting goods into the EU since Brexit, continues to prove difficult. We have experienced a lot of our goods going missing when they reach customs control. Due to additional import costs, we have found that quite a few of our EU customers that we have dealt with for a long time, in regard to providing a qualifying service, now stay within the EU instead of the UK.”
Manufacturer in the East Midlands
“Brexit has been the biggest ever imposition of bureaucracy on business. Simple importing of parts to fix broken machines or raw materials from the EU have become a major time-consuming nightmare for small businesses, and Brexit related logistics delays are a massive cost when machines are stood waiting for parts. We used to export lesser amounts to the EU, but the bureaucracy makes it no longer worthwhile.”
BritCham Charity Fund is continuing it’s support to Allaži Crisis Centre (Allažu bērnu un ģimenes atbalsta centrs), and for this year’s Christmas Charity Campaign we seek your support to help them set up a Sensory Room.
Allaži Crisis Centre is one of the few State institutions in Latvia, which provides social rehabilitation services for minors who have suffered from illegal activities, and for their family members. They especially focus on victims of violence. More often than not the children they take in have severe social, emotional and mental health difficulties that sometimes manifest as violent outbursts. The team at the Centre try to help and take care of society’s most vulnerable and neglected minors, and they work hard to create a safe space for them as they attempt to rebuild their lives and mental health.
A sensory room is a specially designed room which combines safe environment with a range of stimuli to help individuals to calm themselves, to develop and engage their senses and to build up their confidence. At Allaži Crisis Centre such rooms are necessary when their distraught charges need to safely release their fear and pain without hurting themselves and others. This project is directly tied to a project from 2021 when BritCham Charity Fund sponsored an exchange programme between Allaži Crisis Centre and Mulberry Bush School (UK). The sensory rooms is one of the practical tools that the Centre is now implementing based on the knowledge gained at the Mulberry Bush School.
Right now the most pressing need and the biggest expense are mattresses to pad the walls and floor (70m2) so the children cannot hurt themselves. A priority is also buying a few bean bags to have soft and comfortable places to sit or lie down in the room. The team at Allaži would also like a TV and sound system built in the walls of the room to play soothing videos and sounds. Next step would be acquiring various sensory toys (kneadable, squeezable etc.) and specialized furniture.
We plan to purchase as many items as the Fund can cover at the moment, and we would be extremely grateful, if you would consider contributing to the campaign, so we all together can bring the Allaži team’s dream of a sensory room as close to reality as possible. As we will be ordering all items for Allaži at the beginning of the new year, the deadline for the campaign is Monday 2 January 2023.
If you would like to contribute to the campaign, we will be grateful for your donations to BritCham Charity Fund, noting ‘Christmas campaign’:
“BritCham Labdarības fonds”
Registration No: 40008245477
IBAN: LV19HABA0551041265900
Swedbank | Swift Code: HABALV22
Thank you for your time and consideration!
On December 14, FICIL Investment Protection work group continued its annual tradition and met with the Advisers to the President of Latvia in Riga Castle.
Work group members met with Ms. Laila Jurcāne Deputy Head of the Chancery, Ms. Ieva Ilvesa Information and Digital Policy Adviser, Ms. Alise Pīka-Ozola Economic Policy Adviser, and Ms. Anna Karmena Singha, Legal Adviser to the Chancery.
After short introduction and highlighting FICIL priorities the discussion focused on recommendations related to quality of legislation, court efficiency and digitalisation, public procurement, and fair competition.