Opportunities in Brazil: What to Know Before You Go
Brazil poses huge opportunities and challenges for any company wishing to expand overseas. Many businesses are deterred by the apparent difficulties of gaining traction in this enormous market. But for those companies with the right mixture of determination and business planning, Brazil presents the potential for enormous growth which and durable returns.
Firstly the opportunities: Brazil is the fifth largest country in the world by both population and area. It offers a marketplace of over 200 million consumers. It is also relatively wealthy. It has the seventh largest economy in the world as measured by GDP. Brazil has a strong global footprint, which has been greatly enhanced by hosting the two most recent premier global sporting events, the Olympics and the soccer World Cup. Brazil also has a strong democracy and premier position in Latin America.
However the challenges are also significant. Brazil is the only country in the Americas to speak Portuguese, so the language barriers are challenging. Its vast size and poor infrastructure makes it difficult to access consumers outside the main cities. It is plagued by governance and corruption issues, as current political standards testify. It is also a bureaucratic challenge for international customers, due to a highly unionized workforce and labor/tax compliances that are complex and constantly changing.
That is where the right outsourcing partner can give you a real advantage over your competitors. We can provide excellent payroll, accounting, tax, HR and legal services, backed up with a local operation which offers outstanding levels of service and English language communication skills (in English). So if you are looking to build a presence in Brazil, talk to us.