Many US companies have chosen to expand or start businesses in Brazil. In fact, out of the 15 largest employers in the South American country, four are based in the United States. It’s not just because of the 200 million extra potential consumers to which they can expand their selling reach, either, although that is a huge plus. Here are three more major reasons you’ll find US companies in Brazil, or looking to move there:
1. Huge Growth Potential
Brazil is currently the sixth largest economy in the world, by nominal GDP, and the seventh, by purchasing power. It is soon expected to surpass that. Even while the world was experiencing an economic downturn, Brazil still showed a solid output and domestic performance. The export market still has plenty of room for expansion, and leaders continue to innovate, creating international growth.
2. Market Opportunities for Innovation
The majority of Brazil’s exports are raw materials, leaving plenty of room for entrepreneurial and product-based businesses. The US and Brazil are still focusing on an innovation-centric agenda to deepen commercial relations. Core sections include green technology, business development, and trade facilitation. There is also a focus on services, and small to medium-sized companies that makes the country fertile ground for these US businesses or start-ups.
3. Help Available
Setting up a company in any foreign country can be intimidating, but US companies in Brazil have access to help in local organizations. These local professional start-up businesses will guide you through cultural and bureaucratic issues and rules. They are there to help your company succeed in Brazil.