Brazil is a beehive of business opportunities; a country that is as much an investor’s dream as it is a huge market to sell products to too.
With over 200 million people, much of which are well educated and financially empowered, the rich culture and diverse peoples of this Amazonian country await your big idea.
As one of the world’s go-to locations for raw materials as well as advanced energy, infrastructure, and manufacturing sectors, small and big business enterprises from the BRICS countries, and Africa specifically, will find Brazil too enticing to ignore.
Very importantly, too, being the second-largest enclave of black people in the world, African businessmen and women will find Brazil welcoming, hospitable, and receptive to new business possibilities.
Land, Sea, or Underground, Brazil is filled with opportunities
From Fortaleza to Rio, Brasilia, São Paulo, and all around the other 22 states that make up the federating units, your business interest will find a home or mutually beneficial partnerships anywhere you go around the 8.5 million square kilometre country.
Brazil is beyond Samba, soccer, and immaculately white beaches, it is the business hub that drives most other economic activities in Latin America.
Although Portuguese is its official language, businessmen and women who converse in English and other languages do not have a significant problem communicating with the locals.
Beyond its incredibly long coastline, diverse ecological systems, and unique wildlife that have attracted adventurers and settlers for over 300 years, Brazil has become a force to reckon with when it comes to technology and innovation.
Specifically, the Brazilian government is ratcheting up investments in the science, technology, and innovation sectors because of the major disruption the New Digital Age brings with it.
The oil and gas, renewable energy, and other energy sources remain one of Brazil’s most important sector that has attracted some of the significant tranches of investment in recent years.
Being a net exporter of electricity and home to one of the world’s most respected energy companies, Petrobras, Africa surely has a lot to learn and gain from in Brazil.
More sectors and industries to explore
Beyond energy, ICT, defence, mining, and aviation, Brazil is also a regional leader in the services sector.
Its rapidly expanding Fintech, education, and tourism sectors should get global investors excited just as its many startups await new franchisees.
Brazilian business enterprises have taken advantage of the county’s huge and educated population to establish some of the world’s most successful and dynamic outfits.
For instance, Embraer employs almost 20,000 workers to manufacture and sell aerospace and defence aircraft to private and government customers all over the world.
Similarly, Vale is a powerhouse in the mining sector just as JBS and BRF control a significant stake in the global food processing business.
There are other companies like Braskem, a chemical producing giant, Oi, a leader in modern telecoms manufacturing, and hundreds more.
These business outfits are successful and proof that the Brazilian economy is alive and well.
The people; the economy; and the possibilities!
It is no surprise, then, that the London-based Legatum Prosperity Index (2018) ranked the country 65th out of 149 countries analysed.
Put in context, this ranking makes Brazil the most prosperous of all the BRICS countries scrutinised in 2018.
Relative to its size, location, and population, the current political stability (after the 2018 political transition) is a sign that the country is poised to grow steadily, going forward; all other things considered.
Posting a US$3417 GDP per capita and, according to economic analysts’ econometric models, the Latin American giant’s GDP is expected to stand at 1.70% at the end of 2019 and grow at 2.40% in 2020
While not where it should be, given its massive natural and human resources, Brazil has proven to be a work in progress; a nation open to new investments and progressive business partnerships.
After successfully hosting (and raising the standard of) the FIFA World Cup and Olympic Games in 2014 and 2016, respectively, South America’s largest country has shown the world that it has the technological and Human Resources to compete at the highest level.
Whether led by the left-leaning Workers’ Party or an ultra-right-inclined party like the ruling Movimento Democrático Brasileiro party, there is a rare (or nonexistent) interference in private business dealings, making the country very accommodating for local and international business owners.
Are there any challenges?
There is no debating the fact that there could be complications that can arise when investors and business owners attempt to enter a new market – in Brazil or anywhere else in the world.
Whether interested in buying from or selling to Brazil, investing in its many companies, or becoming a franchisee of one the dozens of services companies, acquiring the right negotiating and contractual skills, first, is critical.
Also, prospective business adventurers must consider the cultural barriers that may become clogs in the wheels of progress if not carefully handled.
The BRICS Institute has identified these likely challenges and has put together a team of experts who understand how to do business in Brazil.
Come 3 December 2019, the institute will be hosting businessmen and women from various sectors who desire to do business with Brazil but do not know how to go about it.
BRICS for business
Coming off the back of its resoundingly successful immersion of happy business leaders from Africa to China, the institute has proven that it has the network to create global business synergy.
The recent Chinese experience also proves that the institute possesses the capacity to help local enterprises initiate international business transactions, thanks to many BRICS bilateral and regional agreements.
The scheduled Business in Brazil conference is expected to expose participants to the relevant business laws, rules, and regulations they need to know as they chart new waters.
Also, participants will gain insights into the nature of state-owned enterprises, structural bilateral relations, and a broader overview of opportunities in various sectors, among other topics.
Two hundred and nine million people thriving in such a vast, vibrant, and increasingly expanding economy is an inviting prospect African business enterprises should look to take advantage of, relying on the BRICS bloc’s effort to open up more opportunities further.