What is it like to be a small business owner in Latvia?

If the owner wants to cash out the money, a tax of 20% applies, meaning the company would have an annual net profit of €5,213 or €434/month. Here's how the projected earnings for the owner would look like in Latvia and Estonia: Latvia (micro enterprise): €1,130 a month (€500 salary, €630 profit). read more

Business etiquette Latvians think of themselves as straight forward and trustworthy and they expect their business partner to be the same. During the gradual transition to a market economy, many of the state companies were sold to either local businesses or to foreign companies. read more

Being a small-business owner isn't easy, but an overwhelming majority of entrepreneurs wouldn’t have it any other way. read more