Doing business in Estonia is pure joy!
Business Services in Estonia B
usiness services amount to nearly 17% of the services sector turnover in Estonia. The predominant sub-sector is consultancy and advisory which comprises 12% of turnover in the services sector. This is followed by legal and accounting services with 3% and human resources services with 2%.
Enterprises in the sector are generally local small-scale companies; there are also a number of subsidiaries of international corporations. In many cases, especially in auditing, consulting and legal services, the existence of international networking is an important selling factor for companies. According to Äripäev’s (a business daily news paper) database, there were approximately 5,300 enterprises in the business services sector in Estonia and 2,900 people were forecast to be employed in the sector in 2009.
4% legal and accounting activites
Breakdown of the Estonian services sector in 2008 by turnover (%)
11% real estate service
consultancy and advisor
19% warehousing Source: Statistics Estonia
Examples of companies in the sector: Powerhouse (public relations), Arvato Services Estonia (call centre), Rimess (auditing and accounting), Advokaadibüroo Sorainen (law office), Glikman & Partnerid (law office), Advokaadibüroo Luiga Mody Hääl Borenius (law office), Hill and Knowlton (public realtions), Mercuri International Eesti (advisory) and many more.
Main advantages and strengths of Estonia in the business services sector Well-developed infrastructure supporting the development of business services Highly developed telecommunications infrastructure High digital infrastructure level Excellent internet coverage Electronic ID-card and ID-related services
Multilingual and educated labour force with low labour costs creates a competitive advantage for the company
Educated Skilled and cost-efficient Multilingual Scandinavian work culture combined with Eastern European knowledge
Transparent government policy and increasing need for business services Transparent government policy Growing advisory culture