The Entrepreneurs

Things You Need To Know Before Doing Business With Brazil

  • Written by News Company

If you’re looking for a country to expand your business into, Brazil might just be the answer. As an economic leader in Latin America and part of the developing markets of the BRICs nations (Brazil, Russia, India, and China), it’s a market you won’t want to ignore. Considering doing business in Brazil? The experts at REVIEWBOX have put together everything you need to know before you get started.

Know your currency

Brazilian business people usually think in terms of US dollars, so it’s important to clarify to avoid any confusion. You could be in for some heavy losses if you agree to buy something in what you think is Australian dollars, but your business counterparts agreed a price in American currency.

Developing a business relationship

When it comes to doing business deals in Brazil, personal contacts can play an important role. If you don’t have a mutual acquaintance to help you build relationships, then you’ll need to work on developing a sound business plan and long-term strategy. It’s important to address key points such as initiating a local business presence, understanding Brazil’s tax system and potentially localising the manufacture of products in the future. You’ll need to visit the country regularly to cement relationships, as it’s rare that deals are completed by letter or telephone.

Dressing the part

Similar to Australia, the dress code for business meetings in Brazil is that ties are not often required unless it’s with a law firm, financial institution or for senior executive meetings.

Making your meeting on time

If you’re coming to do business in Brazil’s vibrant financial centre, it’s worth doing your research on how to get around São Paulo before you arrive. The city is huge and traffic can add hours onto your journey time, especially during rush hour and the rainy season of January to March.

Getting your finances in order

As an Australian investor, you’ll legally allowed to invest in the Brazilian financial and capital markets. Any foreign funds from someone not living in Brazil can be either be invested in fixed or variable income instruments that are offered on the financial and capital markets, which is exactly the same as any resident investors. The country also has a notably complex tax system, with one of the highest tax rates in the world and tax rates that vary across different states and municipalities.Yet there are different types of incentives programs available for Australian-based companies looking to establish businesses in Brazil, especially in the oil and gas sector.

Know the business risks

Investigate the Brazilian market thoroughly, and seek professional advice on potential risks associated with entering the market before you begin establishing business relationships. Australia’s laws and penalties associated with the bribery of foreign officials applies overseas, and you can be prosecuted in Australia if you take part in poor business practice.

https://pixabay.com/photos/city-building-architecture-urban-2278497/

Image by:Ikedaleo

Pixabay

Aussie mum helping to save Australia's r…

Angela Skrinos, is one of the country’s most powerful fashion icons, yet one of the least known. Founder of Raglan Fashion Warehouse Sales, Australia’s leading group of warehouse sales outlets...

6 Must-Know Studio Lighting Tips and Tri…

Light is a fundamental element in photography. It has the key role of bringing photos to life. It also generates effects that make images more interesting. Additionally, lighting defines and enhances...

5 Tips to Increase Your Business Profits

Often, the success and growth of a business depends on its profit margins. Increasing profits can be a quite challenging task, for both small businesses and firmly established ones. In...

Enjoy Secure Trading Of Bitcoin Cryptocu…

The Bitcoin Aussie System is a ground-breaking way to invest in Bitcoin, it is basically an algorithm that auto-trade for users who are investing in bitcoin payments. Here the user...

Event Horizon - 3 Tips To Ensure Your Co…

Whether it’s in your business or personal life, the role of the host is often a stressful one!  Every host wants to leave a positive, lasting impression on their guests...

Things You Need To Know Before Doing Bus…

If you’re looking for a country to expand your business into, Brazil might just be the answer. As an economic leader in Latin America and part of the developing markets...

Advantages of Starting a Business in Mex…

While Mexico might not be the first place that springs to mind when most Australians think of setting up and running a business, the ideal might not be as far-fetched...

Fertile Future: Why Sydney Continues to …

When we have such an expanse of beautiful land, and Australia continues to be associated with 'the bush' and rural areas, it can come at a surprise to some that...

Read more to improve your trading perfor…

If you are not prepared with a proper trading plan, the executions will not return profits. Instead, you will experience big losses from the trades. As Forex trading business deals...

MixMarvel successfully builds up the com…

Following a successful series of roadshows in Melbourne, Perth, and Sydney, MixMarvel has paved the way for the development of blockchain-based games in Australia. During the roadshows, MixMarvel not only...

e-Commerce is Growing in Australia Thank…

Australia and other regions nearby have been experiencing a major shift in online business. Some economists are calling this a major boom for e-commerce, and it is all thanks to...

Top 5 Ways To Make Your Website Content …

When you want to make your website content as relevant as possible, you must ensure that you have taken several steps to improve the way you write, change the keywords...

4 ways to market your business online

When small businesses get started, many rely solely on traditional forms of advertising, but the online marketplace provides a better and easier to highlight your brand. Once considered a new...

The Trolley Tactician - How Supermarkets…

Supermarkets are a tactical minefield of strategic elements designed to make you spend more whilst you are there. Getting people in the door is only part of the marketing battle...

3 Ways Your Business Can Use Drones

Australia has a wealth of businesses, both small and big, who help to contribute to a booming economy. There are thousands of businesses across the country, all in different industries...

The Top Five Myths About Being an Entrep…

Do you remember the last time you heard someone refer to themselves as an ‘entrepreneur’? It was most likely a contestant on a reality show, thinking because they have three phones...

Protecting your Super Changes (Latest Up…

Superannuation may not be a sparkling dinner conversation, but that should be. Many of us ignore our superannuation, but as we have come to the end of the financial year...

An Introduction to Forex Trading

Forex trading has become more popular in recent years. And the internet has been a major driver of its growth. The foreign exchange market, known as the Forex market for short...

5 must-try foods from around the globe

Indulging in new culinary experiences is a luxury, namely because it can be an expensive endeavour. However, if you are someone who likes to try new and wacky meals, then...

SEO to Market Your Business

Today, operating a good website is a basic part of establishing and growing your business. Once your site is up and running, you need to incorporate all the best techniques...

Choosing Flat Top Tipper Trailers

A tipper trailer can be a great asset when you need to transport bulk goods or remove rubble etc at regular intervals. Compared to standard tippers, the flat top tipper...

The Weirdest Guinness World Records

We have all dreamed of making history at one point or another. Outliving the mortal coil and being remembered for something truly amazing has been the desire of many. The...

Bill Shock - 4 Steps To Take If You Get …

Paper usually can’t punch you in the stomach, but an unexpected bill can. These powerful blows can manifest in the form of medical bills, car repairs, a broken phone, or...

Understanding Security Token Offerings (…

The market appetite for compliant crypto currencies with very high quality is only slated to grow further and that is great news for the STO model that can significantly impact...