Czech Republic business travel information

Doing business in the Czech Republic

The Czech Republic boasts one of the region’s most prosperous and industrialized economies. From January-June 2009 it held the EU Presidency and it has made economic growth, energy security and a reduction of trade barriers its key priorities for Europe.The country’s strategic location, well-developed infrastructure, and skilled labor force attracts strong flows of foreign direct investment (FDI).

Economic growth was 6% from 2005 till 2007, dropping to 4% in 2008. In 2009, the Czech Republic felt the impact of the global economic slowdown with growth dropping to 1-2% or possibly even fall into a recession due to a lack of export orders to Western Europe with the automotive sector particularly hit hard.

Economic growth is largely based on inflows of FDI and growth in exports. Foreign investment is boosting productivity, creating new jobs and raising wages and domestic consumption. In addition to new manufacturing facilities, a growing number of American companies are establishing R&D and shared-services support centers. The Czech Republic has become a major hub for automotive and electronics manufacturing in Central Europe. There is enormous competition from European companies which have close historical and economic ties to the market.

The Czech Republic’s economic transformation is not yet complete. The government still faces challenges such as the slow pace of legislative reforms and industrial restructuring, lax enforcement of IPR protection, making the public procurement process more transparent, and a growing shortage of highly skilled technical workers. In addition, the government’s reluctance to commit to a time table for conversion to the euro has many export-oriented businesses concerned. If unresolved, these conditionscan have an adverse effect on the business climate and competitiveness of the Czech Republic.

Product tip: When you love to read, consider an e-reader! When you love to read, you should consider buying an e-reader. The main advantages of these devices are portability, readability of their screens in bright sunlight, and long battery life. An e-book can be purchased, downloaded and used immediately, whereas when one buys a book one has to go to a bookshop, or wait for a delivery.

In case of emergencies

Before you go on your business trip to , The Czech Republic you should always get a travel insurance with a complete coverage.

Make sure your health care insurance is sufficiently covered.
Maybe this is already covered in your regular health care insurance but often you will need to cover this with the travel insurance. Also a good travel insurance should cover the costs of travel for a relative in case of seriously illness or an accident.

The business trip travel insurance should also cover the costs of search, rescue and repatriation.
When you go on business trips on a regular basis, the easiest way to get insured is with an annual multi-trip insurance.

Keep in mind that you can also use this insurance for your pleasure trips so don`t forget to include to insure your leisure activities.

When you need English speaking medical care you can contact:
Unicare 24 Hours Emergency Service
call: (+420) 608 10 30 50

Business Etiquette and Protocol

If your are planning a business trip to The Czech Republic it is a good idea to know at least a little about the culture and etiquette in The Czech Republic. Use these business etiquette tips as a guideline only. There are too many social, personal and business nuances in The Czech Republic to be considered. There is no uniform approach possible for all occasions.
For more in-depth information I suggest you buy and read the "Global Business Etiquettes" book.

• Communication:
  Use formal names and academic titles.
  Czechs are not direct, they prefer subtlety to directness. They will go out of their way to protect your feelings.
  Dress formal and conservative.
  


• Meetings and negotiations:
  When making appointments use the 24-hour clock time format to avoid misunderstandings.
  Be very punctual, if you suspect you will late, call and explain the situation.
  Never cancel a meeting at the last minute.
  Remain standing until invited to sit down or others do so.
  Some time is spent to getting to know you before the business conversation begins.
  Agenda’s are not strictly followed and a meeting can take much longer then planned.
  First appointments are more socially oriented, Czechs’s would like to know you a bit better at first before conduction business.
  Czechs generally offer what they expect to get and will not often give counter-offers.
  Keep your presentation as short as possible, to the point, accurate and precise, do not exaggerate.
  Follow up a meeting with a letter with all agreements outlined.
  


• Table manners:
  If unsure on how to behave, mimic the behavior of others.
  Wait until you are appointed a seat.
  Avoid alcohol if possible, otherwise drink little.
  If making a toast, stand up.
  Put a napkin on your lap, eat not too much but finish your plate.
  Keep your hands above the table when eating. Keep your elbows close to your body.
  After finishing your plate lay your knife and fork parallel on your plate with the handles to the right. Your plate will be removed immediately.
  Thank your host at the end of the meal.
  

Some phrases in Czech

Czech, along with Slovak, Polish, and the High and Low Sorbian, belongs to the western group of Slavic languages.

Although in business most people speak some English, some Czech phrases can always come in hand....

Thank you.	Děkuji.
You are welcome.	Není zač./Prosím.
Excuse me.	S dovolením.
I’m sorry.	Promiňte.
Good day!	Dobrý den!
Good evening!	Dobrý večer!
Good night!	Dobrou noc!
Good bye!	Na shledanou!
What’s your name?	Jak se jmenujete?
My name is Peter.	Jmenuji se Petr.
Mr./Mrs./Miss	Pán/Paní/Slečna
Nice to meet you.	Těší mě.
How are you?	Jak se máte?
I’m fine, thank you.	Mám se dobře, děkuji.
Do you speak English?	Mluvíte anglicky?
I don’t speak Czech.	Nemluvím česky.
I don’t understand.	Nerozumím.
Where is the subway station?	Kde je stanice metra?
Next stop: Náměstí Republiky	Příští stanice: Náměstí Republiky
Please stop here.	Prosím zastavte tady.
Excuse me, where is the theater?	Prosím vás, kde je divadlo?
Turn right / left.	Zahněte doprava / doleva.
How far is it?	Jak je to daleko?
Where is the town square?	Kde je náměstí?
Check please!	Zaplatíme!
Where is a cash machine?	Kde je bankomat?