Baltic Business Quarterly

Can you guess which Baltic country has the biggest wallet?🤓

Estonia has the biggest budget in the Baltics Estonia is the smallest of the Baltic States, while its national budget revenue and spending are the highest of all three countries — although Lithuania is set to overtake Estonia in both of these indicators in 2023, according to Svetlana Nesinova, senior tax consultant at BDO Latvia, in an interv...

"Hidden champions" is not just the catchy title of our current edition, it also describes a concept developed by German professor Dr. Hermann Simon in the 1990s when he was analyzing the remarkable success of the German economy. He graciously explained the concept to us in our latest issue and shared insights from his more than thirty years of research.

🌍 "Globally, I discovered approximately 4,000 of these hidden champions, but Germany has the highest number per one million inhabitants," Simon revealed.

🌟 The term "champions" derives from the fact that these companies are either among the top 3 in their global market or the number 1 on their continent, with a turnover of less than €5 billion. However, they remain "hidden" because they lack widespread fame and are relatively unknown to the public.

🌱💡 Dr. Simon provides valuable advice to Baltic companies: "The greatest challenge in this process is finding the right market. Hidden champions define their markets narrowly, attentively observing both customers' needs and technology. They consistently innovate by blending technology with customer proximity. This is the only path to sustainable long-term growth."

In addition to our interview, Simon delves further into these concepts in his books. A great starting point is his book "Hidden Champions of the 21st Century: Success Strategies of Unknown World Market Leaders." There is even a Lithuanian translation available titled "XXI amžiaus nematomi čempionai." We also recommend "Hidden Champions in the Chinese Century: Ascent and Transformation."

📚 Find out more: https://hermannsimon.com/books/

The weather is getting warmer and one of the most pleasant topics of conversation now is the ice cream. In its summer issue, Baltic Business Quarterly brings you some interesting facts about ice cream made in the Baltics. Already read? If not, you can also read this article in LSM News

Anyone for an ice cream? What would summer be without ice cream? Not just in sun-kissed states does everyone love the sweet, creamy treat but also people in the Baltics are avid consumers of frozen desserts. Here are som...

Money makes the world go round- The summer issue of Baltic Business Quarterly featured an interesting story about the three Baltic national currencies: Litas, Lats and Kroon. Estonian national broadcaster ERR News shared this story. If you haven't read it yet, here's your chance https://news.err.ee/1608996817/exhibition-100-years-litas-lats-and-kroon-on-display-in-tallinn . And if you happen to be in Tallinn between 15 June and 12 October, visit the exhibition at the Estonian History Museum yourself.

Exhibition '100 years: Litas, lats, and kroon' on display in Tallinn Numismatists in Lithuania, Latvia and Estonia have joined forces to tell the story of the national currencies of the Baltic states. A traveling exhibition commemorates the anniversaries of the litas, lats and kroon – and the stories of the three nations encoded in them. The article appeared in the...

📢 The Summer issue of Baltic Business Quarterly is finally here! 🌞📰

🌐🔍 This season, our cover story delves into the world of "Hidden Export Champions." We shine a spotlight on the extraordinary businesses that quietly thrive and excel in the Baltic region, making their mark on the global stage. Discover their untold success stories, learn about their strategies, and gain invaluable inspiration from these Baltic champions.

🙏🌟 We were excited about the inspiring stories and insights from our interview partners. Therefore we want to thank Dainis Bonda - CEO of RUBRIG, Juozas Nainys - CEO of Atrandi Biosciences | Droplet Genomics, Paulius Insoda- CEO of NFQ Technologies,Liisa Lukin - COO of SK ID Solutions, Angela Vaasa - COO of Solis BioDyne and Andzejs Stenclavs - Owner of Kinetics Nail Systems, for your contribution and enriching expertise.

📬 Read all this and more in our Summer 2023 issue - if you are not already a subscriber: https://lnkd.in/d3vWQCjx

May is here and so is the summer issue of our Baltic Business Quarterly magazine. We have had many wonderful interviews, including a very inspiring conversation with the new CEO of ERGO in Baltic States Ursula Clara Deschka.
What are the values of one of the more appreciated insurance companies in the Baltics, what are the development plans and what new impulses does the new CEO bring with her? Find out all this and much more in our newest issue, which will soon be in the hands of our readers.

Our spring issue is now also at the leading Building Industry fair in the Baltics Izstāde "Māja I" , organised by the exhibition company Starptautiskais izstāžu centrs Ķīpsala BT1 in Riga. Have you been there yet? It goes until 26 March.

The spring issue of Baltic Business Quarterly is here! This issue looks at the Baltic pharmaceutical, food supplement and cosmetics manufacturers and their innovative products. These industries have a tradition of more than 100 years in Estonia, Latvia and Lithuania, but we took a look at what companies in these fields have to offer today. What trends are the Baltic manufacturers following that make them unique and what is the response to the shortage of some medicines in the last six months? We also analyse recent investments in these sectors, mergers and acquisitions and their results.
In addition to the central theme, we also look back at the life and work of Meinhard von Gerkan, the great Riga-born architect.
Read all this and more in our Spring 2023 issue - if you are not already a subscriber: https://www.abonesana.lv/product/bbq/

Work has started on the spring issue of our magazine - this time focusing on Baltic pharmaceuticals, food supplements and cosmetics. How does the current situation affect these sectors, and do we have to face the fact that some traditional medicines to disappear from the market? What are the reasons for this? We are studying and analysing all this, and we already have the answers to why even simple medicines are currently in short supply in many parts of the EU.

Another very interesting story about a Latvian-made military transport from our winter issue has also found its way to LSM NewsNews. Have you read it?

VR-1 FOX: SUV and buggy combined in Latvian military vehicle project A prototype of a military vehicle that combines the cross-country performance of an SUV and the speed of a buggy has been created in Latvia. Production could start as early as this year.

We are always happy to tell about innovative Baltic companies and help to expand business opportunities. Thank you SpirulinaNord for sharing.

Lepojamies, ka esam Baltijas biznesa ceturkšņa labāko biznesu sarakstā. Starp militārajām un medicīnas inovācijām, veselīga un ilgtspējīga pārtika ir viena no mūsdienu aktualitātēm.

Decembrī esam dubultojuši savu ražošanas jaudu, tāpēc visus pasūtījumus atkal varam nosūtīt dažu dienu laikā. Šogad plānojam 10 reizes palielināt kapacitāti. Sekojiet mums un uzturiet veselību ar svaigu un garšīgu spirulīnu -> www.spirulinanord.eu


Paldies Vācijas-Baltijas Tirdzniecības kamerai Igaunijā, Latvijā, Lietuvā (AHK) par iespēju izstāstīt mūsu svaigās spirulīnas stāstu starptautiskai sabiedrībai.

In our winter issue there is a really good summary of what innovations are out there in Latvia in the field of defence/military. Thanks LSM News for sharing!

Latvia and NATO stepping up defense innovations Technology can now be just as powerful a weapon as armored machinery. This is why NATO member states including Latvia, plus NATO's allies members have taken a lead in generating innovations and sharpe...

Do you think eating insects is something for Halloween? Not any more. The proteins found in insects make it a valuable addition for treaters too. Carlos' Bugsis a company owned by Latvian Edīte Ligere and there are already some products on the market.
Read more in our winter issue of Baltic Business Quarterly. Thank you Anda Aserefor the contribution and Labs of Latvia for sharing.

Insects in food: no longer a shocking Halloween novelty - Labs of Latvia As the number of people in the world grows, the issue of food supply is becoming more and more relevant. Carlos’ Bugs is one of the first companies to offer products that contain insect protein powder, which was only introduced as a new food in Europe in 2021.

We are glad that the interview with Germany's new ambassador to Estonia Annette Klein in our winter issue of Baltic Business Quarterly also found interest in Estonian public broadcaster News |ERR. Thank you for sharing.

Ambassador: Germany and Estonia very much on the same page German Ambassador Anette Klein says in an interview that while the unprovoked and illegal attack of Russia against Ukraine and its implications take up most of her attention in Estonia, the West's response needs to be coordinated, which is a strong point of Ukraine support.

Our winter issue of Baltic Business Quarterly is out! Very rich, future oriented content: on Baltic military/defence innovations, food production - e.g. insect protein and lab-produced meat, modern eco-friendly packaging, e-medicine are the leading sectors we focus on in this issue. But there's much more to interest you - interviews, including with the Latvian cosmetics legend H.A. Brieger owner and CEO Anastasija Udalova, success stories of other Baltic companies, a look at the most progressive Baltic municipalities in terms of energy independence, expert assessments on current economic trends, etc. This issue is a must-read!

Work on our winter edition is going on intensively. Such an interesting topic this time - innovations made in the Baltic States and the special focus on defence/military.

Did you think Estonia, Latvia and Lithuania have hardly anything to offer in this field? Then let us surprise you. There is much more than armoured wheeled vehicles.

Subscribe to the only regular English-language magazine that describes current developments and trends from all over the Baltic States! https://www.abonesana.lv/product/bbq/

- find out what's happening in the Baltic economy
- find business partners and customers in Baltic States and Germany
- inspire yourself with the innovative spirit of companies in Estonia, Latvia and Lithuania

Visit our website www.balticbusinessquarterly.de for more information!

Can you guess which historic Baltic company will be one of those featured in our winter issue? ☺️

We are glad that our magazine was among the media partners of the first Novatore.eu Women Impact Summit, which took place in Riga on 22-23 September. Excellent event!

"Combustible peat is another Latvian domestic energy resource that we can use to diversify energy risks, especially as the prices are rising", says Uldis Ameriks, Laflora Latvija board chairman to magazine. Latvia could extract 700,000 t of combustible peat every year, thus providing additional 2 million MWh of energy. Read more in the article https://eng.lsm.lv/article/society/environment/peat-as-fuel-an-untapped-resource-in-latvia.a472483/
Thank you LSM News for sharing.

Peat as fuel: an untapped resource in Latvia In Latvia, it is possible to extract up to 700,000 tonnes of combustible peat every year, thus providing an additional 2 million MWh of energy. Time will tell if this potential resource will be used d...

Energy independence raises many questions, what can be used to replace gas from Russia? Can wood be a possibility for this? In the Baltic States, yes. Even more, in Latvia a technology has been developed to produce gas from wood. Read more in our magazine.

Wood: a resource to replace gas? Latvia is rich in forests, and our current situation calls for the use of this resource to strengthen Latvia’s energy independence,” said Arnis Muižnieks, board chairman of the Latvian Forest Owners’...

Our autumn issue is all about the dependence on Russian gas and how it affects Baltic economies.

Several articles in this issue were written by professional journalist Armanda Vilciņa who shared also valuable information about renewable resources in Estonia, Latvia and Lithuania.

Latvian national radio and television united news portal LSM News shared this article for their readers.
https://eng.lsm.lv/article/society/society/lsm-launches-english-language-service.a90048/ Many thanks for this!

Keep an eye on our latest issue, too!

"The Baltic states should have given up Russian gas sooner" If Russian gas had already been turned down in 2014 after the annexation of Crimea, the Baltic states would by now have adapted to the new conditions and would be an energy-independent region, argues...

We're excited to announce the release of Baltic Business Quarterly autumn magazine.

It features the latest developments in energy, as well as interviews with leaders and experts in Estonia, Latvia and Lithuania. The magazine will be your go-to source for everything happening in the Baltic States when it comes to business and innovation. Whether you're looking to learn about the newest technologies or meet people who are doing innovative work, this is the magazine for you!

We hope you enjoy reading it!

Read the latest issue of our BBQ magazine online during your Lufthansa flight!🛫

We are glad that Lufthansa added our business magazine to their collection of eJournals which are provided during their flights. Catch up with the latest Baltic business news on your way to the next conference or meeting.

You can find out more about eJournals here:
https://lnkd.in/g_teQdwA

In these times of rising energy costs, where no end is unfortunately in sight, smart energy saving is an important topic for all. In our summer issue, we described a street lighting technology from Idea Lights . Energy consumption was reduced by 46% for lighting in the Latvian city of Cesis. Many thanks to Toms Sālmans for the interview and Anda Asere for writing this article. We are also glad that other media such as LSM News continue to carry this article to their readers. https://lnkd.in/dH2vnWaW
By the way, we will continue the energy theme in our autumn issue, which will be published on 1 September, so stay tuned!

Smart street lights could help municipalities save money The Idea Bits business incubator by Draugiem Group, a group of IT companies in Latvia, has produced the Idea Lights street lighting technology, which adapts lighting to traffic intensity and turns con...

getUgo is a young start-up founded by school friends during the first Covid-19 lockdown in 2020. They decided to take a different and innovative approach, and bring new technologies to the market which are likely to reach their full potential in the upcoming years. We featured the company in our summer Baltic Business Quarterly magazine also LSM found it worth sharing.
https://eng.lsm.lv/article/economy/business/latvian-startup-steers-into-autonomous-driving-fast-lane.a464586/

Latvian startup steers into autonomous driving fast lane GetUGo is a young start-up founded by school friends during the first Covid-19 lockdown in 2020. They decided to take a different and innovative approach, and bring new technologies to the market whic...

Didn't have a look in our most recent issue yet? Check out the sneak peek on our page:

https://lnkd.in/eXTaZPbh

BBQ Summer 2022 Extract The summer issue of our quarterly magazine features smart mobility solutions from Estonia, Latvia, and Lithuania. Find out about creative innovations, modern technologies, and the most outstanding Start-Ups from the Baltics.

Thank you LRT for sharing and Göllner Spedition GmbH & Co. KG for contributing her interesting story in the Baltics with our Baltic Business Quarterly magazine!

The German family who pioneered logistics in Baltics Readiness and courage to change is key to success for many companies. This applies also to the freight forwarder Göllner...

Baltic Business Quarterly is now on WhatsApp.