One of the most critical skills for business professionals in today’s interconnected world is proficiency in English. Multinational corporations span the globe, and stock, commodity and currency markets are so deeply entwined that a shift in one major asset can trigger ripple effects across continents. In this environment, English has become the de facto business language through which global information flows.
In the Latin American region, the need for business-level English is particularly urgent. According to the EF Education First English Proficiency Index, many countries across Latin America continue to register low to moderate proficiency levels. Additionally, a study by OCCEducación found that 80 % of job listings in Latin America require a proficient level of English, while only approximately 20 % of professionals meet that standard. Given this gap, and the increasing pace of foreign investment into the region, there is a strong imperative to boost business-English competence among workforces throughout Latin America. Doing so will enhance cross-border communication, reduce operational friction and enable international companies to establish and scale in the region with fewer language-based obstacles.
To explore how this dynamic plays out in practice and why building multilingual, cross-border capability matters for expansion, see this profile of my journey from the army into building multinational businesses on Medium: From the Army to Building Multinational Businesses: My Entrepreneurial Journey. For further insights on global expansion and leadership in Latin America, visit CraigDempsey.com.
What is Business English and Why is it Important?
Business English is language related to international trade and commerce with a specific focus on business communication or business related issues. It is used by business people and employees who need to use it in connection with their daily work or business related activities. Given that the use of business English can be applied across all industries and is frequently being used as a common corporate language, it is considered that learning business English is one of the most important skills for individuals working in an international environment.
One key area where there is a necessity for business English is that of back office services. A critical aspect for foreign entities that wish to establish a presence in Latin America is that they must have the ability to communicate effectively with the business professionals performing their legal, accounting and administrative work. Lawyers, accountants and business professionals must be able to convey the local laws and practices in a manner in which foreign companies will understand and in most instances, this will be in English. It is therefore extremely important that the gap between the demand for back office service professionals that speak English and those that have the ability to speak English is reduced.
In Colombia, companies such as Bogota Business English are aiming to solve this problem by providing business English courses focused on a corporate level. They also conduct intensive business English courses and corporate English courses and have successfully taught business English to numerous corporate executives, lawyers, accountants and back office professionals to date.
Biz Latin Hub can assist you doing business in Latin America & the Caribbean
At Biz Latin Hub, we provide integrated market entry and back office support to investors throughout Latin America and the Caribbean, with offices in more than a dozen countries around the region and trusted partners in many more.
That unrivaled reach means we are ideally places to support multi-jurisdiction market entries and cross-border operations.
Our portfolio of services includes company formation, accounting & taxation, legal services, bank account opening, and hiring & PEO.
Contact us today to find out more about how we can support you.
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