When it comes to choosing a country to conduct your next business venture, many astute entrepreneurs are looking to Brazil and, in particular, Rio de Janeiro.
A bustling hub of business and pleasure, it’s a city that attracts over 5 million tourists every year, a figure sure to increase in 2014 as Brazil hosts the FIFA World Cup, and again in 2016 when the Summer Olympics come to town. Thanks to these two major world sporting events, not to mention a stunning landscape and tropical climate, Rio is on the cusp of becoming a major player in the business world.
In preparation for this massive increase in tourism figures and overall interest and awareness in Rio, savvy business owners are making their move right now. Don’t get left behind in the future rush for partnership with Cariocas (people of Rio). Take a look at this informative infographic, brought to us by Capita Translation and Interpreting, on how best to approach striking up a business deal in Rio.
First up –what opportunities for investment currently exist in Rio? As a major financial and service centre, Rio offers several healthy industries ripe for investment. It’s dominated by the service sector, with banking and entertainment key components of the city’s economy, and massively influenced by tourism with Rio ranking as Brazil’s top tourist attraction (for both foreigners and Brazilians). But the Capita Business Guide to Rio infographic rightly points out that transport, consumer goods, energy, construction, metals and mining are also extremely active industries and certainly worth exploring as avenues of investment.
Having all the figures and a healthy dose of business acumen will get you some of the way when doing business in Rio. What Capita really hone in on here is how to successfully work your potential Brazilian business partners by understanding their culture and how they, as Cariocas, prefer to conduct their business. It’s recommended that you spend the time (and probably money – work these into your schedule and budget) to build a rapport. As it says in the infographic: ‘Doing business here is worthwhile but complex. Expect to put in the hours to build a good relationship with your business partner. Without winning their trust, you may struggle to get off the ground!’ This trust can be won by following a few simple but essential measures. Strike up conversations by talking about family and children, music or, if you’re into it, football, but perhaps steer clear of the minefield that is their relationship with Argentina, politics in general, as well as poverty, religion and the rainforest!
For the full run down of business tips and cultural no-gos, including how to get started, what to wear and how to avoid things falling apart, take a look at the infographic!