Business in Brazil: Expand your Market Reach
You’ve built a successful business back home and perhaps you are looking globally to make higher profits in other countries. And now your thinking about doing business in Brazil. As you examine your options, you’re not looking just at the size and shape of your business today; you are also concerned about the future outlook for your business and the country you choose to invest in.
Expanding into any developing country has its challenges. But the payoff can be extremely rewarding for those who do their research and take a smart approach to marshaling available resources and opportunities. Whether you are considering opening a new branch, establishing a new affiliate, entering into an international joint venture or partnership, or starting a new company, expanding your business in Brazil should be on your short list.
Here are 3 reasons why you should consider expanding your business in Brazil.
1. Growth Opportunities
Brazil is the 6th largest economy in the world. Still, Brazil remains very attractive to foreign investors because of its huge growth potential, its large market base, and political stability.
Brazil is a global power in agriculture and natural resources. And it offers one of the largest workforces and group of consumers in the Americas. Having a population of nearly 200 million people, with almost half of them being in the middle class, Brazil is an enormous consumer market.
2. Emerging Market Opportunities
In just a few years, Brazil is expected to become the 5th largest economy in the world. That will be due to an impressive rate of growth that brings with it lucrative emerging market opportunities.
Brazil’s future is bright as the country continues to demand attention on an international stage. In 2014, Brazil will host the FIFA World Cup and in 2016 Brazil will host the Summer Olympic Games. A study conducted by the Brazilian government concluded that these two major sports events will add a $24.5 billion boost to the Brazilian economy thanks to increased tourism and growth in employment and construction.
3. Collaboration Opportunities
Although expanding your business in Brazil, or to a foreign market, can be intimidating, the experience becomes easier when you have the support of the country you are entering. Brazil wants your foreign investment dollars. While the regulatory environment regarding expanding into Brazil may seem unattractive, it pays to have patience and to collaborate with local individuals and companies.
There are profitable business expansion opportunities to be found globally. Take a closer look at what Brazil has to offer your business and the world.