Despite Brazil's economic and political dull context, the country remains an attractive destination for local and foreign entrepreneurs as confirmed by many expatriates living in Brazil. While some pinpoint the weak and unstable economy – due to which many foreign companies have closed their offices – many still believe in the country's bright future.
Investment opportunities do exist in Brazil, according to current expatriates. A look at Expat.com's Brazil Forum will convince you – everyday people inquire or share information about the benefits of moving to Latin America's most popular country. Although there's still much to be done, it seems like expats are optimistic regarding Brazil's economic revival. But where are these opportunities and how can one find them?
Automotive: A Brazilian passion
There's more to Brazilian life than football – automotive has recorded a significant growth over the years while automobile maintenance has been set aside. In some parts of the country, you won't even find car tyres, let alone spare parts. It's likely that Brazilians have their own set of priorities given the high cost of living, and car maintenance does not seem to be part of the list. However, due to the income inequality part of the population earns a good living.
Luxury industry: Services and products for the wealthy Brazilians
All Brazilians are not affected in the same way by the economic crisis. According to a World Bank report not many people earn high wages in Brazil, but those who do aren't really concerned by the past years' income drop. In fact, a large number of the population enjoys a great purchasing power with an average of USD 41,000 per year.
Wealthy Brazilians tend to seek more services that used to be out of reach – ranging from international food, housekeeping services, and professional movers to personal services, gyms, etc. From an expatriate's point of view, these wants and needs seem to be constantly growing.
Mobile and Internet service providers, for instance, are enjoying greater competition with the rising demand. Connectivity is now more than ever a necessity for Brazilian citizens with thousands of mobile phones being sold every day.
IT experts and entrepreneurs are also encouraged to boost e-commerce. Also, more opportunities are coming up in the luxury industry – from gold trade to the sale of jewelry. What could make a woman happier?
Renewable energy: The promised land
Brazil has been known as the land of sun and samba. But it may well be the land of the future if people worked together to make it a better place. Actually, foreign investors are currently thinking about investing in renewable energy with projects such as the installation of solar panels. Until now Brazil hasn't been able to capitalize on its high level of sunshine almost all year round. For a greener – and a less traffic-congested Brazil – the introduction of bike rental (a popular service in major cities in the world) could turn out to be a blessing.
Getting to know the local culture
If you are looking forward to investing in Brazil, it's better to start by getting to know the local codes and culture. Expat.com members in Brazil highly advise inquiring on the local lifestyle as much as on the labour market and industrial relations. If you have any questions, feel free to ask them on the Brazil Forum.
Consider building your professional networks before moving. Feel free to ask your contacts for help if need be. Remember that word of mouth is considered as a powerful tool when it comes to looking for opportunities in Brazil.
Respect of hierarchy is also prevalent in Brazil's work culture where micromanagement has become the norm. In all cases, professional relationships are likely to differ from what you are used to in Western countries.
It is equally important to set up a business plan before actually getting started in Brazil. You may have to schedule a few recognition trips that can help you decide which field and area would be of interest to you to invest. You may also have to learn Portuguese which is the official language and a must for your company's success.
For further assistance, don't hesitate to contact local business networks and organisations such as your country's Chamber of Commerce and Industry in Brazil.
Setting up a business in Brazil can seem quite challenging at first but if you follow the right steps and get help from the right people, nothing can come in between you and your goal. Expat.com seizes the opportunity to wish you all the best!
