The executive director of the Russo-British Chamber of Commerce, Stephen Dalziel, has revealed that he has never received more enquiries from Britons who are interested in starting a business in Russia.
At the moment there are thought to be around 600 British companies operating business in Russia, and exports to Russia have increased by 63 percent to £2.1 billion during the first half of 2011.
Mr Dalziel said: “It has been a very interesting year in Russia. The number of calls the Chamber of Commerce has received from British businesses considering starting up in Russia has been phenomenal this year and I've never seen anything like it in the four and a half years I have been doing this job.”
It seems that uncertainty in the European economy is sending people in search of new markets, and the retail, pharmaceutical and real estate sectors of Russia are attracting a substantial amount of interest.
However, despite immense volumes of enquiries, Mr Dalziel admits that only around 20 percent actually go through with a move to Russia, but he added that “Even if we only get one in ten I still think we are doing pretty well.”