The Russian-speaking education market offers lucrative business opportunities for Finnish companies and education providers.
Ms Irina Solonova, who is the founder of Ruspro Education – a consulting company for educational organisations – says that The Russian educational market is highly growing in all sectors. The overall market size is estimated to grow from 26 billion in 2016 to 29 billion in 2021.
As focus in the Russian society is shifting from oil to education, the importance of education is becoming more and more significant. “Parents tend to invest a lot of money in teaching their kids at early age”, Ms Solonova points out.
The segments that currently have the highest potential in Russian-speaking education markets are architectural concepts, learning environments, learning methods, management tools and expertise, e-learning tools, special needs education, teacher training and vocational programmes for adults.
How to enter the Russian market
When discussing about how to enter the Russian-speaking education market, Ms Solonova mentions that you need three key elements: time, money and a Russian partner.
“Don’t expect it to happen overnight”, Ms Solonova says. In order to do business in Russia, you need to first build trust and that takes time.
“You also need money, because without investments it’s not possible to do business” she continues.
Finally, you need someone local, who understands the local business culture, has contacts, sells your solutions and gives you extra support.
“Overall, Finnish products have a good reputation in Russia”, she finishes.