Latvian Investment and Development Agency (LIAA) business incubator head in Kuldīga, Līga Raituma, said that export rates have been not only over several years, but also during this period of crisis.
“In 2018, 9% of all turnovers were made in exports; this year they are 33% only in six months. A switch to other markets was needed,” said Raituma.
One of the directions where entrepreneurs look and find new markets is Asia.
Under the supervision of the Kuldīga business incubator is the company Flockmen. Linda Birzule,from the company shared her experience:
"COVID-19 time full of hesitation. Europe stalled in March and April. At the same time, when there was a lot of uncertainty and we didn't know what was going to happen, Asian markets came naturally to us. Organic wooden toys are currently very trendy in China. We only had two orders from one kindergarten and one shop in Latvia last year," Birzule said.
The business incubator also operates a carpentry company called Platte, which develops an exporting brand called Midmini. They create modern toy-furniture for children, where, for example, a child could not only play on the kitchen, but actually make a salad or something simple, as the materials are environmentally friendly.
“These are plywood furniture for children that we produce with the vision that they would serve a family for several generations – quality, good for the environment. We respect the ethical standards of production, do not use cheap labor, the brand is created in Latvia - it is an export brand,” says company spokesman Roberts Herberts.
Initially, the company mainly exported its production to the United States. Now, similar positions are in South Korea and Australia, some European countries as well.