Estonian business culture

Freedom House has stated, that Europe consistently maintains an exemplary level of respect for democratic standards and human rights. It rates Estonia to have free Internet and free press, which drastically also increases the transparency in business. Estonia’s level of Internet freedom is 9 out of 100, the latter being the least free, which is one of the best results in the whole of Europe. In the league table for economic freedom, Estonia places 11th, being ahead of the US, the UK, Germany, Sweden and Finland.

Corruption level

According to Heritage, corruption erodes economic freedom by introducing insecurity and uncertainty into economic relationships. The Heritage 2014 Index of Economic Freedom has given Estonia a score of 64.2 out of 100 in the freedom from corruption analysis, which is well above the average by setting Estonia on the 31st position in the list of 186. The Parliament strengthened the already tough anti-corruption laws in 2012 to increase transparency and ensure economic freedom, which further improves the excellent business culture in Estonia.

Payments due

Estonians are disciplined and straightforward. These qualities are also evident in people’s and companies’ payment practices. The level of delayed or defaulting payments has been falling steadily over the past years, as shown by Krediidiinfo’s reports, and similarly to the rest of the Nordic countries, the public sector is also very efficient in its payments. The report also states, that only 11% of companies are classified as high credit risk, which is extremely low and supports efficient business activities in Estonia.

Language

The official language of Estonia is Estonian, a language in the Finno-Ugric language family together with Finnish and Hungarian. Estonians are intelligent and have good communication skills, however even more impressive is the large number of people who speak foreign languages. 66% of Estonians speak Russian and 46% speak English, making doing business in Estonia simple for companies from a variety of regions.