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Perceptions on Doing Business in Latin America: Cautious Optimism For Future Growth and Opportunities

Perceptions on Doing Business in Latin America: Cautious Optimism For Future Growth and Opportunities

In June 2020, the Biz Latin Hub team launched a survey asking for information about individuals’ perceptions about doing business in Latin America. In June 2020, the Biz Latin Hub team launched a survey asking for information about individuals’ perceptions about doing business in Latin America. We received a range of responses from 75 business owners, executives, government officials and other specialists operating in over 40 countries worldwide. 57.3% of respondents are considering expanding into the region in the future, with many expressing cautious optimism at economies' abilities to bounce back after the COVID-19 pandemic. Find out what the key takeaways from our survey indicate about people’s perceptions on doing business in Latin America. Perceptions on doing business in Latin America: who took part? 75 people responded to the Doing Business in Latin America survey. Of our respondents, nearly half (48%) were business owners, operating in Latin America and across other regions of the world, including the United States, Europe, Asia, the South Pacific, and the Middle East. 29 respondents (38.6% overall) were business owners operating in Latin America. Many survey participants were operating across more than one country. Of all respondents, 66 people (88%) noted they were working or operating their business within Latin America, and 39 respondents (52%) were operating outside of the region. A third of all respondents were running or working in a company that operates in 5 or more countries, and 16% of all respondents claimed to be operating across 10 or more...

Register and Protect Your Trademark in Central America

Register and Protect Your Trademark in Central America

Registering your trademark in Central America protects your intellectual property from competitors. A trademark is defined as a unique sign that distinguishes your product or service from others. Once registered, you must take certain steps to protect your trademark regularly. Central America is comprised of 7 countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Central America is comprised of 7 countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Together, these countries amount to a GDP of US$268.65 billion and a population of 45.524 million people. Registering a trademark in Central America is essential to remain competitive and build a unique brand in the market. Unknowingly misusing an already existing trademark can lead to legal and financial burdens. Be sure to understand how to register a trademark in six of these Central American countries. Likewise, it is also crucial to understand how to manage your exclusive rights to ensure no third parties are using designs identical or too similar to your own. This includes conducting trademark searches, demonstrating commercial application of your trademark, and renewing it when necessary. Benefits of protecting your brand with trademarks Registering your trademark comes with many advantages, including: Protection of the trademark in the country of registrationRight to file legal action against those who violate the use of your trademark for their commercial benefitRight to restrict the import of goods that use registered trademarks that infringe...

How to Conduct a Trademark Search in Central America

How to Conduct a Trademark Search in Central America

Conducting a trademark search in Central America is the best way to protect your business and distinguish it from other companies. It is a crucial pre-emptive step before applying to register a trademark when expanding your business in the region. In this article, we will help you understand all aspects you need to consider to conduct a trademark search in Central America appropriately. Classify your business to conduct an appropriate trademark search in Central America To start a trademark registration in Central America you need to consider the following elements:  The name or brand you want to registerThe product/service you're providing to conduct your business. The registration of a trademark might not be successful if your company/product name is similar to others. In some countries, just the name similarity prevents the registration of the brand. The conflict between two identical trademarks would be a huge setback in the process, as it will take much more time to be completed.  Before applying for a trademark, you need to know how your business is classified according to the Nice Classification. Before you begin: understanding the Nice Classification System Understanding the Nice Classification System is particularly important. It outlines a system of products and services eligible for intellectual property protection, adopted by a significant number of countries worldwide. The Nice Classification System allows users to specify their business activities and therefore, the market that will be covered by their trademark. The Nice Classification System...

Biz Latin Hub Expands: Leading Market Entry and Back-Office Services in Guatemala

Biz Latin Hub Expands: Leading Market Entry and Back-Office Services in Guatemala

Biz Latin Hub is now offering multilingual and multidisciplinary market entry and back-office services in Guatemala. Guatemala has demonstrated consistently positive GDP growth since 2009, and serves as a strategic hub for businesses operating across the Americas. Growth in certain Central American economies in recent years has attracted a number of foreign companies to the region, especially those interested in manufacturing, technology, and establishing trade channels to both Northern and Southern markets. Within the region, Guatemala has demonstrated consistently positive GDP growth since 2009, and serves as a strategic hub for businesses operating across the Americas. In December 2019, the Global Entrepreneurship Monitor identified Guatemala as a country with high entrepreneurial spirit and Established Business Ownership. Biz Latin Hub’s Managing Director, Craig Dempsey, says, “as a market leader for end-to-end market entry and back-office services in Latin America, we couldn’t overlook the potential for international business community in this entrepreneurial nation.” “Guatemala is a top economic performer in Central America, and offers a number of incentives to help businesses thrive. We are excited to be able to support our clients entering this emerging market.” Explore our full range of market entry and back-office services in Guatemala Founded in Colombia in 2014, Biz Latin Hub now operates across 16 countries in Latin America and the South Pacific. With our team of legal, accounting, payroll and trade specialists, we can offer end-to-end support for foreign...

5 Tips for US Companies Doing Business in Guatemala

5 Tips for US Companies Doing Business in Guatemala

Find out benefits and opportunities for US Companies Doing Business in Guatemala. Guatemala's size and economic potential offers one of the best options for business expansion into Central America. Guatemala is the third-largest country in Central America, with just over 17 million inhabitants. Its main location for commercial activity is Guatemala City. The official currency of Guatemala is the Quetzal, and its strength offers a significant advantage when expanding into the country from abroad. It is important to have the option of diversifying investments and sources of income, and Guatemala offers key advantages to business. As a US company doing business in Guatemala, use these 5 tips to optimize your experience and achieve long term success. Around 70% of the population in the country is under 30 years old and in the last decades, the number of English speakers has increased significantly. 1. Find talented staff Guatemala is rich in cultural history and custom. The country's workforce is well-educated and open to new opportunities. The government holds a positive predisposition to collaborate with foreign businesses. In addition, it is important to take into account that a large proportion of Guatemalan nationals manage a fluent level of English. Around 70% of the population in the country is under 30 years old and in the last decades, the level of people speaking English has increased significantly. When hiring in Guatemala, rest assured in the availability of enthusiastic, qualified staff. Foreign employers who are not familiar with the local employment regulations...

Manage Your Business Risks with Due Diligence in Panama

Manage Your Business Risks with Due Diligence in Panama

Managing your business risk with due diligence in Panama while doing business is a key aspect for having an operational company.  Foreign executives face various challenges when entering in a new country. Language barriers, different legal frameworks and cultural expectations can be difficult to understand. Therefore, business owners choose to buy operational companies to start doing business immediately.  Due diligence in Panama as in other countries offers certainty about operational aspects of the company you’re managing, buying or merging. Undertaking due diligence activities will certify the health of the company and if is convenient for starting a business.  The main objective of carrying out due diligence in Panama is to reduce risks by analyzing the operations of the company and validating they comply with local legislation and institutional authorities. Executives need to consider that a sanction from an institutional authority affects the economic growth of the company and even bankrupt it. Why is due diligence important in Panama? Panama is an attractive country for foreign business due to its diversity, strategic location, and business opportunities. Panama is an attractive country for foreign business due to its diversity, strategic location, and business opportunities. According to the General Comptroller (Contraloría General de la República) in 2019 there were 26,000 registered companies, which represents a 4.6% increase in relation to 2018. Furthermore, there were 299 company merges.  Buying an operational company is a common practice...

How to Register a Trademark in Belize

How to Register a Trademark in Belize

Registering a trademark in Belize brings many advantages to a business, as it protects the distinctive signs their consumers recognize them by. Belize has established as one of the largest economies in Central America with a stable currency and pro-investment governmental policies. For companies that expand their business operations to Belize, registering a trademark is essential in order to remain competitive and build a unique brand in Belize’s market.A registered trademark in Belize grants you full protection, control and exclusive rights to your intellectual property. The article outlines significant steps to register a trademark in Belize.  Where to register a trademark in Belize The applicant can either choose the online or the in-person procedure. The Belize Intellectual Property Office (BELIPO) is the National Intellectual Property Registry for Belize. This office is in charge of the intellectual property legislation and the promotion of such in Belize. Through the BELIPO, the applicant can submit the application to register a trademark in Belize and hence, obtain a trademark registration certificate. Trademarks in Belize According to the Trade Marks Act (Cap. 257), a trademark is a unique graphic sign distinguishing a company's goods and services. This signs may consist of words, personal names, designs, images, numbers or the shape of the goods and/or their packaging. This definition of a trademark also includes following: Collective mark: Is used to distinguish the goods or services of members of an association from the goods or services of...

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