Menu toggle
Business in Brazil

Business in Brazil

The fifth largest country in the world – with a population of approximately 190 million – Brazil is a booming business destination which has attracted the likes of Rolls Royce, BP and Shell; in fact part of the 400 of the 500 largest companies in the world who operate out of Brazil.  Boasting one of the world’s most rapidly developing economies (the sixth largest in the world), the opportunities for Brazil remain largely untapped; a perfect chance to branch out and stake a claim on one of the biggest and most exciting business economies in the world. 
 
Brazil has a strong industrial and consumer core, its high population yielding a strong workforce and demographic which can be utilised to help sustain and grow a business.  Culturally, Brazil is inclined towards European practices which make it an easily identifiable and recognisable gateway destination to operate from in South and Central Americas. 
 
Brazil is home to multiple business centres in addition to its two most famous tourist-commercial locations Rio de Janeiro and Sao Paulo, cities like Belo Horizonte, Recife and Campinas all helping to bolster Brazil’s emergent economy.  Reasons for the cities’ economic popularity include infrastructure (Campinas has its own international airport and is a short distance from Sao Paulo), traditional business hubs (the city Rubeirao Preto hosts the annual “Agrishow”, one of the most important agricultural trade shows in Brazil) and landmark municipal facilities (Santos Bay is the largest dock in Brazil and has helped foster a thriving trade industry in the region). 
 
Though Brazil is an emergent star in the business world it still poses some challenges for prospective companies.  Ongoing tax reforms are being made to ensure that Brazil maintains corporate interest with flexible taxation, though the system still currently retains a relatively high taxation rate.  In addition to this Brazilian companies stress importance on individual interaction rather than corporate, which can prove difficult at times.  This issue is assuaged by a more informal attitude to meetings and interactions in Brazil, as well as the ability to appoint representatives to negotiate deals (a prevalent method of negotiation). 
 
Business visitors are advised to learn some level of fluency in Portuguese, or alternatively seek out the assistance of a translator.  Personal interaction often hinges on a group culture, so it is crucial that visitors avoid embarrassing members of the group – in particular it is a taboo to criticise a person publicly.  As businesses are hierarchal in Brazil representatives are not often used and cannot offer decisions in business, as emphasis is placed upon individual interaction rather than company.  This also means that in negotiations you will be expected to keep the same “team” throughout your interaction.  Brazilians are an extremely friendly people and it is not uncommon to be invited to a home; if this occurs it is customary to bring a flower or small gift, though be sure to avoid black and purple as these are mourning colours and may cause offence.

Share this article:

Subscribe to newsletter

close

Subscribe to our newsletter

Sign up here and get the latest news and updates delivered directly to your inbox

You can unsubscribe at any time