This paper explores and analyses the findings from a survey of UK participants in a trade mission to Moscow, with reference to relevant academic literature. The focus is on their experience of doing business in transition economy (TE) country-markets (including Russia itself); their perceptions of Russian market opportunities and risks; their main sources of information and advice; and their strategies for Russian market entry and development. The findings suggest businesses with experience of TEs and Russia may be best placed to succeed in the Russian market, provided that they draw fully on the resultant lessons. Newcomers to the Russian market can maximise their chances of success by seeking out good information and advice, forging good contacts with Russian businesses, and by adopting a well-structured, but flexible approach to their marketing strategies. Official support agencies can help UK businesses to succeed in Russia by maximising the quantity and quality of the support, information and advice that they provide.