Recommendations for entrepreneurs and those responsible for finances for 2026
Recommendations for entrepreneurs and those responsible for finances for 2026
In preparation for 2026, entrepreneurs and those responsible for finances face a number of significant challenges and opportunities that could determine the pace of business development, requiring companies to find new solutions and pay greater attention to strategic management in order to remain competitive and sustainable.
Below, Viesturs Briežkalns, Partner and Head of Business Services Outsourcing, has summarized the main trends that deserve special attention.
1. Artificial intelligence as an "invisible employee" – management responsibility, not just a technological solution
Artificial intelligence is no longer just a tool for innovation or experimentation; it is becoming an everyday productivity and decision-making tool in companies and is used in financial planning and analysis, data processing and accounting, as well as in tax and personnel accounting processes. Therefore, the main challenge is no longer the implementation of technology, but rather its control, data quality, and accountability:
Data security, access rights, and internal rules for the use of artificial intelligence are becoming a mandatory element of internal control.
Errors made by artificial intelligence remain the legal responsibility of the company, not the risk of the technology provider.
The AI strategy in 2026 is a management and risk management issue, not an IT initiative.
Companies need to plan how to integrate artificial intelligence into their business responsibly, ensuring quality, clear procedures, and oversight.
2. Crypto assets – from the “gray zone” to a regulated environment
Crypto assets in Latvia are no longer perceived as marginal or unclear financial instruments, but have become a new asset class that requires clear accounting, documentation, and tax accounting.
The supervision of crypto assets is no longer focused solely on new transactions. The State Revenue Service (hereinafter referred to as the SRS) is stepping up its supervision of crypto assets, including for previous periods where transaction accounting may not have been properly performed and documented.
At the European Union level, regulations have come into force that require crypto exchanges to submit information on customer transactions to the tax administrations of member states once a year. This means that the SRS will now receive structured information on transactions with crypto exchanges registered in the EU.
3. Labor shortage – a long-term reality
Labor shortages are no longer a cyclical challenge; they are becoming a long-term business factor. Demographic trends and the availability of skilled workers will not improve even with slower economic growth.
This means that competition for talent will continue and pressure on wages will not disappear, and automation, process optimization, and flexible workforce models will become a basic necessity rather than a competitive advantage. Effective workforce management may become one of the leading driving force on business growth.
4. Remuneration transparency – a matter of reputation and risk management
With the introduction of the European Union's Equal Pay Directive, employers must be able to justify their salary structure and job comparability, which means that reputational risks may prove to be even more significant than legal risks. Remuneration transparency will become an essential part of a company's culture and management system, both in attracting new talent and retaining existing employees. In practical terms, this means that companies will have to move from individual salary negotiations to a systematic, data-driven remuneration architecture.
5. Focus on efficiency, not just volume
Companies that introduce flexible resource structures and processes, strong financial oversight and profitability analysis, adapting to change and using modern technological solutions, will survive and thrive, because efficiency is becoming the main competitive advantage in an uncertain environment – it is not the biggest companies that will win, but the smartest, most flexible and most efficient ones.
For Latvian companies, 2026 is not a year of innovation in many areas, but rather a year of convergence, a moment when practices that have long been the norm elsewhere in Europe become the minimum requirement in the local market as well.
Below, Viesturs Briežkalns, Partner and Head of Business Services Outsourcing, has summarized the main trends that deserve special attention.
1. Artificial intelligence as an "invisible employee" – management responsibility, not just a technological solution
Artificial intelligence is no longer just a tool for innovation or experimentation; it is becoming an everyday productivity and decision-making tool in companies and is used in financial planning and analysis, data processing and accounting, as well as in tax and personnel accounting processes. Therefore, the main challenge is no longer the implementation of technology, but rather its control, data quality, and accountability:
Data security, access rights, and internal rules for the use of artificial intelligence are becoming a mandatory element of internal control.
Errors made by artificial intelligence remain the legal responsibility of the company, not the risk of the technology provider.
The AI strategy in 2026 is a management and risk management issue, not an IT initiative.
Companies need to plan how to integrate artificial intelligence into their business responsibly, ensuring quality, clear procedures, and oversight.
2. Crypto assets – from the “gray zone” to a regulated environment
Crypto assets in Latvia are no longer perceived as marginal or unclear financial instruments, but have become a new asset class that requires clear accounting, documentation, and tax accounting.
The supervision of crypto assets is no longer focused solely on new transactions. The State Revenue Service (hereinafter referred to as the SRS) is stepping up its supervision of crypto assets, including for previous periods where transaction accounting may not have been properly performed and documented.
At the European Union level, regulations have come into force that require crypto exchanges to submit information on customer transactions to the tax administrations of member states once a year. This means that the SRS will now receive structured information on transactions with crypto exchanges registered in the EU.
3. Labor shortage – a long-term reality
Labor shortages are no longer a cyclical challenge; they are becoming a long-term business factor. Demographic trends and the availability of skilled workers will not improve even with slower economic growth.
This means that competition for talent will continue and pressure on wages will not disappear, and automation, process optimization, and flexible workforce models will become a basic necessity rather than a competitive advantage. Effective workforce management may become one of the leading driving force on business growth.
4. Remuneration transparency – a matter of reputation and risk management
With the introduction of the European Union's Equal Pay Directive, employers must be able to justify their salary structure and job comparability, which means that reputational risks may prove to be even more significant than legal risks. Remuneration transparency will become an essential part of a company's culture and management system, both in attracting new talent and retaining existing employees. In practical terms, this means that companies will have to move from individual salary negotiations to a systematic, data-driven remuneration architecture.
5. Focus on efficiency, not just volume
Companies that introduce flexible resource structures and processes, strong financial oversight and profitability analysis, adapting to change and using modern technological solutions, will survive and thrive, because efficiency is becoming the main competitive advantage in an uncertain environment – it is not the biggest companies that will win, but the smartest, most flexible and most efficient ones.
For Latvian companies, 2026 is not a year of innovation in many areas, but rather a year of convergence, a moment when practices that have long been the norm elsewhere in Europe become the minimum requirement in the local market as well.