Finding a business partner may be one of the most complicated things an entrepreneur will face in his entire business experience. There are many risks involved and if you make the wrong decision, the consequences can be catastrophic for your business.

Reputation crisis, financial loss, legal actions and bankruptcy are just some of the things that could happen if a decision is taken without having the proper information at the right time. But the good news is that if you seek professional help to investigate all the details, the outcome will most likely be good and with no surprises.

Experienced private investigators in Russia offer the following advices for those considering a new business deal or a new partnership:

1. First of all, analyze how hard should you look. Looking for a business partner is somehow like looking for a life partner. When you think about the implications of rushing and taking a light decision, you discover that there is no such thing as making too much of an effort in the first steps. Prepare to invest some money and time in a company verification or due diligence. It will be worth it.
2. Find professionals that can help along the way. It is hard to verify the facts or find evidence in Russia, especially if you are in a foreign country. A professional Russian private investigation firm with investigators on the ground in Moscow is a very important resource at this point.
3. Russia is going through tough economic times right now. It is important to consider that financial crisis are always good ground for business fraud and the proliferation of scam. May Russians will be genuinely looking for a business partner now in order to sustain their business, but you will also find fraudsters trying to take advantage of the moment. Do your homework and verify all the details!
4. Make sure your potential business partner matches your values, your way of doing business and your expectations about the future of the company. There are countless tales of successful, profitable businesses that failed not because the market didn’t demand their products or services, but because of internal differences. Conducting a background check investigation on your Russian partner might be a good idea to have a better understanding of whom you are dealing with.
5. Making partnerships takes a great deal of effort at the front end. Russian private investigators are playing an increased role in reducing the risks of business fraud and helping individuals and companies find their right business partner. So before entering into your next business partnership, make sure you have clear evidence on the table so you can make an informed decision.

Russia and the Ukraine are high risk countries.  For those who can successfully enter the market, there is significant opportunity here.  However, with all the potential pitfalls and all the risk, many investors in this region fail or end up victims of business fraud or investment scam.  Getting the facts early, verifying the company or individual you’re dealing with, and identifying red flags is key to success.

Are you communicating with someone in Russia?  Contact us today.

C. Wright
© 2015 Russia PI™

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