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  • BCC Quarterly Recruitment Outlook: Highest level of recruitment difficulties on record

    A new survey by the British Chambers of Commerce (BCC) reveals firms are facing the highest level of recruitment difficulties on record.

    The data for the leading business group’s Quarterly Recruitment Outlook (QRO) for Q4 2022 was drawn from a survey of more than 5,600 businesses, 92% of whom were SMEs.

    Attempted recruitment in Q4 remained virtually unchanged from the previous quarter, with 61% of firms looking to find staff (62% in Q3 2022).

    Overall, over eight in ten firms (82%) attempting to recruit reported recruitment difficulties, up from 76% in Q3.

    While the problem is persistent across all sectors, firms in the hospitality sector are most likely to face challenges when recruiting, with 87% reporting difficulties. This is closely followed by the manufacturing sector on 85%, and the construction sector; professional services; and public, education, health sector all on 83%.

    The recruitment pressure points vary across sectors. For firms who struggled to recruit in the construction sector, 73% faced difficulties in finding skilled manual/technical workers. However, for hospitality businesses that struggled to recruit, 70% faced difficulties in finding semi/unskilled workers.

    Investment in training remains low; less than a quarter (24%) of firms reported an increase in their investment plans over the last three months. 60% reported no change to their plans, while 16% of firms reported a decrease.

    Read full Quarterly Recruitment Outlook here.

  • Riga Business School Guest Lecture

    Riga Business School invites you to join on February 15 at 5.30pm for a public guest lecture at Riga Business School!

    Edvīns Korneliuss, a financial industry expert, will be the speaker and will talk on multinational corporations and deglobalization.

    Since the subject is so broad, it will be explored from the following perspectives:

    • the geographical setting,
    • the impact and consequences of COVID,
    • the background of political tension and deglobalization,
    • national interests, and
    • the desire of countries to protect their markets.

    Edvīns has extensive expertise in the financial sector both in Latvia and internationally. He has held positions at SEB, Sampo Bank, and Danske Bank. Korneliuss has served on the LDZ CARGO Board of Directors as an independent member since 2020.

    You are kindly asked to register before the lecture here: https://ej.uz/MultinationalCompanies

    More information about the event.

  • WOW London Festival 2023

    The world’s biggest, most comprehensive festival celebrating women, girls and non-binary people is back!

    The 13th WOW London Festival is a chance to be part of the global movement and see world-class speakers, activists, musicians and comedians all in one place as we come together for three days of life-changing conversations, incredible performances and interactive workshops. Everyone is welcome.

    WOW Festivals have now taken place in more than 30 locations across the globe on six continents.

    In 2023 the famous WOW Day Pass returns on Friday, Saturday and Sunday. Each day festival-goers can explore a totally different line-up of dozens of talks, workshops, performances, music and more. As each day will feature different events, you can book to come for one day or buy Day Passes for all three days.

    There’s loads of free stuff to discover too, from the much-loved WOW Marketplace, WOW Pop Up performances and WOW Speed Mentoring. Plus, don’t miss headliner evening talks, performances and more; family-friendly events and a digital programme.

    At WOW, there’s space for discussions ranging from sex to politics, grandmotherdom to divorce, childlessness to career changes. It’s a chance for both the most difficult discussions and the funniest interactions that bring us all together.

    Read more information about the festival.

    Watch the highlights from WOW London Event 2022.

  • BCC Press Release: Director General of the BCC Reacting to the Chancellor’s speech

    British Chambers of Commerce have published a Press Release. Reacting to the Chancellor’s speech setting out his vision for economic growth, Shevaun Haviland, Director General of the BCC, said:

    “The Chancellor is right to be optimistic for the future of British businesses which are desperate to grow and prosper.

    “Our Chamber Network is jam-packed with innovative and forward-looking firms. They are developing new products and services that can sustain our economy for years to come.

    “But beyond pledges to introduce Investment Zones and to use reform of Solvency II to unlock capital there was very little meat on the bones of the Chancellor’s vision.

    “While wholesale energy charges might now be starting to fall, the reality is that thousands of businesses were locked into new contracts last year at prices that will remain far higher for months to come. This will be unsustainable for many and must be addressed.

     

    Read full BCC Press Release here.

  • KPMG Webinar: “Tax amendments 2023 and other tax news”

    KPMG Latvia invites you to the webinar “Tax amendments 2023 and other tax news” to find out the latest news about the upcoming changes in tax laws and regulations in 2023 and other important news.

    Information about the webinar:

    Time: 09.02.2023 from 10.00-13.00

    Location: Online, MS Teams platform

    Price of the webinar: 65 EUR + PVN

    Language: Latvian

    Sign up for the webinar here.

    More information about the webinar.

  • New Vacancy at British Chamber of Commerce in Latvia

    BritCham is looking to recruit Executive Director.

    Expected Start Date: 1 March 2023

    Further details and official job description will be published shortly, however, if you or someone you know would be interested in applying for the position, please contact Chairman of the Board, Simon Boddy by email: simon.boddy@britcham.lv

  • Slokenbergs PLLC joins BritCham as a Corporate Member

    SLOKENBERGS PLLC is a law firm and business consultancy based in New York (US), founded by Ivars Slokenbergs, a corporate and commercial cross-border lawyer. The firm advises Baltic and other European companies doing business in the US or planning entry to the US market. Licensed in New York, Ivars Slokenbergs has broad experience advising clients on complex matters on both sides of the Atlantic. Earlier, he worked as a commercial litigation lawyer at a global law firm in New York, after which he moved to Latvia and, for more than a decade, served as a corporate lawyer at one of the leading law firms in the Baltic States (Ellex). He is a graduate of Brooklyn Law School in New York.

    SLOKENBERGS PLLC provides Baltic and other European investors in the US a broad array of legal and advisory services, including on corporate establishment and transactions, commercial agreements and licensing, employment and equity incentives, intellectual property protection and business immigration, as well as other legal services required to successfully operate a business in the US.

     

    To find out more visit Slokenbergs.

    BritCham warmly welcomes our new member!

  • Signet Bank Market Review 12/2022

    Even the very beginning of the year of 2022 was hinting at numerous difficulties for market participants ahead. In addition to military actions, politics and international relations, sanctions and counter-sanctions, the tiresome pandemic and rising inflation, the market turned out to be absolutely unprepared for record increases in interest rates and resulting price movements. Investors were hit by falling equity indices, huge losses on the venture capital market, capitulation of cryptocurrencies, sharp jumps in credit spreads in emerging markets and high-yield bonds, and even by a mess in the government debt market of some developed countries.

    Read full Market Review for December 2022 here.

  • CBRE News: Baltic Retail Symposium 2023

    2023 was a long-awaited year for the retail market, when life gradually should have returned to the new normal. The market has, however, kept rolling along and retailers in the Baltics have now reached the next crossroad of changes.

    The shaky economic backdrop, soaring inflation, and temporarily declining purchasing power are forming a new set of challenges for the year ahead. The consumer is changing as well. Visitors are becoming more selective, reviewing what they wish to consume and are questioning their priorities. The term “competition” has also broadened as never before. Consumers are moving and deciding quickly, buying everywhere – online and offline, on the ground and up in the sky. This brings an even greater need for, and a new understanding of data, research, and solutions for building loyalty in new experiential ways.

    To be one step ahead, the retail property market has to work in unison, involving all players within the retail ecosystem. Property investors, landlords, and retailers are all in the same boat in building Sustainable Resilience, and creating Adaptive Spaces. In the current market, resilient and adaptive retail spaces are integrating Live & Work & Play concepts to increase the convenience of visitors and generating synergy between tenants and consumers.

    New generations. New technologies. New sustainable thinking. New digital experience. New adaptive concepts.  New customer expectations.

    To be resilient, retail market needs to address all of the above. And, any other property sector should integrate retail as part of its future strategy. But how?

    Join the Baltic Retail Symposium 2023 to hear how market leaders are responding to changes and creating new opportunities.


    Time:     28th February 2023, 10:00 – 20:00
    Venue: Radisson Blu Latvija Conference & Spa Hotel, 55 Elizabetes Str., Riga
    Working languange: English

    Target audience: real estate developers and representatives from the industry, business managers, developers of shopping and leisure centers, property investors, landlords, and retailers as well as representatives and executives from construction, municipalities, and state institutions.

    PARTICIPATION

    EARLY BIRD OFFER UNTIL 31.01.2023. ONLY!
    Participation for one person: EUR 300 + VAT 
    Participation for CBRE corporate clients and partners, Dienas Bizness subscribers: EUR 210 + VAT

    Please book your seat here!

    *When registering, please indicate whether you will participate in the event in person or watch the conference online – the price does not change.

    Don’t miss your chance, the price will increase from 01.02.2022.
    Participation for one person: EUR 380 + VAT
    Participation for CBRE corporate clients and partners, Dienas Bizness subscribers: EUR 266 + VAT

    More information about Baltic Retail Symposium 2023 

  • CBRE Market Outlook 2023

    CBRE has published a Market Outlook for 2023.

    What Baltic commercial real estate trends to monitor in 2023?

    • Increased financing costs will impact on commercial real estate transactions, with yields shifting upwards across all asset classes.
    • The real estate sector has a high impact on the environment. The EU now sets criteria for environmentally sustainable real estate activities.
    • Flexibility is of great value to employees, and companies continue to test hybrid working policies.
    • The borderline between the industrial and retail segments is blending. This fusion is fueled by e-commerce, for which robotics and automatization will intensify.
    • A gross rent price for a new energy-efficient project could be more desirable than for old premises with a lower net rent but high energy costs.

     

    Read Full Report on Market Outlook 2023