1. Business Education in Latvia MOBILITY IN SKOPJE, MACEDONIA 07/11/2016 – 11/11/2016
Project No LVO2-KA

2. Latvia GDP growth rate The Latvian economy expanded 0
Latvia GDP growth rate The Latvian economy expanded 0.6 percent in the second quarter of GDP Growth Rate in Latvia averaged 0.96 percent from 1995 until 2016, reaching an all time high of 5.20 percent in the second quarter of 2001 and a record low of percent in the second quarter of 2009.
Project No LVO2-KA

3. ‘’Shadows’’ Day
‘’Shadows’’day is a well – known event in the world and a popular activity of career education for students from grades Its aim is to introduce young people with various professions to help them make decisions about their future job. On the ‘’Shadows’’ day students visit work places and for 4 – 6 hours watch the working process and possibly meet their future employers
Project No LVO2-KA

4. The Most Required Economy Sectors Attended on ‘’Shadows’’ Day
Hospitals
Air transport
Supervision of ten financial market
State administration
Education services
Media
Municipalities
Nongovernmental organizations
Project No LVO2-KA

5. Students Training Companies
Motivation and ideas (creative brainstorms, generation of a business idea)
The creation of a company ( creating a team; arranging roles; name of company; logotype)
Organizing activities (initial capital raising; creating product; determination of potential customers;creating business plan; submiting registration documents to Ja Latvia)
The company’s action ( creating producs; selling them at fairs; the financial and accounting etries)
Competition and elimination of company ( participating in various international under takings;making reports; dissolution of company at the end of the school year)
Project No LVO2-KA

6. Short History of Teaching Business in Latvia
1990. For the 1st time Economics is taught in Latvia using Junior Achievement programme ‘’Applied Economics’’
1993. The 1st course for teachers of Economics is organized
1994. Pubished the first textbook ‘’Business Economy’’in Latvian.
1995. The first students business plan competition takes place
1996. The first competition ‘’ The best teacher an the best student of Economics takes place
1997. The first competition of creative ideas and advertisments’’My advert’’ takes place
2005, The first ‘’Shadows’’Day in Latvia
2009. The first international STC ( students training companies) is organized in Latvia
Project No LVO2-KA

7. Benefits from Creating STC
Knowledge at entrepreneorship
Presentation skills
Knoweledge about financial analysis
Skills of planning their own finances
Experience of acting in team
Get important proposals and business contacts
Posibility to show their talents and skills to others
Communication and organizing experience
Entry in CV
International experience and friends allover the world
Their own profit
Taste of win
Possibility to obtain a paid study place in Business University ‘’Turība’’
Possibility to obtain sertificate of JA Latvia that gives advantages to enter some universities
Project No LVO2-KA

8. Junior Achievement Latvia
Junior Achievement Latvia (JA Latvia) is a public benefit organization and an expert of practical business education in schools. JA Latvia has been one of 39 JA Worldwide net members in Europe since 1991.
JA Latvia every year provides an access to practical business education programme to about students at all levels of education across the whole of Latvia. The programme is aprobated by Europe and fitted to special needs of Latvia.
Project No LVO2-KA

9. Programmes provided by JA Latvia
1.Financial litteracy ( grade 1-9), curried out with help of Latvia Central Bank)
2.Career education
Shadows Day (grade 1-12)
Leaders programme ( grade 10-12)
3.Entrepreneurship
Students training companies ( grade 4 – 12)
Start-up programme
Online simulation game TITAN ( grade 9 -12), carried out with support of Riga Business school.
Project No LVO2-KA

10. Population of Latvia
Project No LVO2-KA

11. Personal Income Tax Rate 23.00
Corporate Tax Rate
15.00
Personal Income Tax Rate
23.00
Sales Tax Rate
21.00
Social Security Rate
34.09
Social Security Rate For Companies
23.59
Social Security Rate For Employees
10.50
Project No LVO2-KA

12. Latvia GDP The Gross Domestic Product (GDP) in Latvia was worth 27
Latvia GDP The Gross Domestic Product (GDP) in Latvia was worth billion US dollars in The GDP value of Latvia represents 0.04 percent of the world economy. GDP in Latvia averaged USD Billion from 1987 until 2015, reaching an all time high of USD Billion in 2008 and a record low of 4.50 USD Billion in GDP in Latvia is reported by the World Bank.
Project No LVO2-KA

13. Economic Forecasts 2016-2020 Outlook
Overview
Actual
Q4/16
Q1/17
Q2/17
Q3/17
2020
GDP Growth Rate
0.60
0.8
0.7
0.6
0.5
percent
Unemployment Rate
9.50
9.8
10.1
9.7
9.4
8.7
Inflation Rate
0.3
2.24
1.9
Balance of Trade
-178
-177
EUR Million
Government Debt to GDP
36.40
34.3
33.77
33.23
32.7
34.5
Project No LVO2-KA