Business (Page 2)


The numbers are in and according to Minister of Finance Alena Schillerová, the Czech Republic ran a deficit of CZK 367 billion for 2020, dwarfing 2009’s deficit of CZK 192 billion, making it the worst deficit in the country’s history by a long shot.  As rough as it is, this deficit is actually lower than what was expected; Originally, the Chamber of Deputies had signed off on allowing for a CZK 500 billion deficit. Schillerová explained that there was CZK 110.7 billion extra in unexpected revenues to pad the losses. Roughly half of the unexpected revenue came from taxes, and CZK 26 billion came from the European Union.  Overall, the total state budget revenues fell by CZK 47.7 billion, andContinue Reading


Banks in the Czech Republic seem desperate to sell as many mortgages as possible, upping their game by nearly 40% in one year, iRozhlas reports. According to statistics from České bankovní asociace (Czech Banking Association) and  České národní banka (Czech National Bank), a total of CZK 22.1 billion worth of mortages were sold to people in November alone, which is a 7% increase from the month before, and a 39% increase from November 19. This is the highest ever recorded by the CNB.  The CNB’s data shows that the average monthly mortgage payment has decreased more than CZK 800, or 0.34% from a year ago. It also dropped 0.05% from October to November 2020. Vladimir Staňura, an advisor from theContinue Reading


Of course, I am familiar with paper entry tickets that have probably got the number, your logo, and a few other details on them. But that is all that they can, right? And it is hard to sell them online. In one of my last summer articles, I was writing that art galleries might want to come up with something new and find new ways to engage with visitors. Now, it is time to get rid of dull paper entry tickets once and for all and cut through the noise. But people love to buy stuff online, and this is not going to change. They also prefer shopping online for your digital single-entry passes or digital season passes. They canContinue Reading

Just like most things, people living in the Heart of Europe will see higher prices on tap water going into 2021. Due to a massive drop in water consumption during COVID-19, Prague residents are expected to pay 92.36 Kč per cubic meter of water next year, which is a rise of 7.3% compared to last year.  Tomáš Mrázek of Prague Waterworks and Sewage (PVK), the company in charge of the city’s water system, says that the country’s capital was more affected by the drop in water consumption than anywhere in the Czech Republic. “The increase in price mostly because of a huge drop in invoice volumes which regulated costs are calculated from. These will only increase due to inflation. TheContinue Reading

After nearly five years of negotiations, Britain and the European Union have reached an agreement on trade relations after Brexit. The announcement came on Christmas Eve, the traditional day when Czechs give each other presents. But was it a welcome gift for Czech businesses? I asked Lukáš Kovanda, the chief analyst at Trinity Bank, what he thinks of the Brexit deal.Continue Reading

Mobile marketing is one of the most powerful marketing techniques. It allows businesses to connect with people through their personal devices. And hence, it has a larger outreach than many other forms of media. These are a few basic tips that will help you to produce the desired results and even beginners can employ them. Be There Having a mobile marketing strategy is about people – your customers. It is about staying current with peoples’ habits. It is about how we now live our lives and have all the information at our fingertips through our mobile phones. It is about how our lives have become centered around mobile phones that are playing the role of cameras, phones, web browsers andContinue Reading

The coronavirus pandemic has had a worldiwe economic impact, often most damaging to small businesses and the self-employed. Many of them are reliant on the Christmas season for most of their income, but with epidemic measures in force, Christmas markets have been forced to limit their operations significantly. To help struggling businesses and craftsmen, two women have set up Darujeme české Vánoce, an online project that seeks to get Czechs to buy locally. Continue Reading

Private corporations are changing the media and political landscape of Central and South-Eastern Europe in their pursuit of business interests. It is increasingly difficult to talk about the television market when national communication networks go private and business entities deliver services to a range of offline and online communication channels. For now, the EU does not seem to have an active response to the growing media concentration in corporations that also have political and corporate ties to Russia and China. Could a European public broadcaster be a silver bullet or can the privatisation of domestic politics be contained by other means?Continue Reading