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Embrace Guatemala’s Business Etiquette when Expanding in Central America

Embrace Guatemala’s Business Etiquette when Expanding in Central America

Understanding Guatemala's business etiquette could increase the possibilities of success when doing business in the country. Business etiquette creates an overall picture of a company, which radiates onto the market and thus has a significant impact on entrepreneurial success. Learn about the most important aspects foreign executives should consider in regard to Guatemala’s business etiquette.  Guatemala's business etiquette by Hofstede Business etiquette includes the norms and values that shape human behaviour in corporate environments. It involves internal and external communication, social engagement, employee motivation, and, last but not least, economic goals.The Dutch social psychologist and anthropologist Geert Hofstede is one of the best-known representatives in the field of business etiquette. He created a model of four cultural dimensions - power distance, collectivism vs individualism, masculinity vs femininity, and avoidance of uncertainty - commonly used in the analysis of business culture. To understand Guatemala’s business etiquette, we will analyze each Hofstede's cultural dimension and the scores given to Guatemala based on this .  Guatemala’s business etiquette has the second-highest power distance worldwide. Power distribution in Guatemala   Power distance defines how the less powerful members of organizations expect and accept unequally distributed power. Scoring 95, Guatemala’s business etiquette has the second-highest power distance worldwide. This means that decision-making processes run from “top to bottom” and...

6 Steps to Liquidate a Company in Guatemala

6 Steps to Liquidate a Company in Guatemala

As business projects may don't always go as planned, foreign executives might want to liquidate a company in Guatemala. In some cases, this decision can be due to reasons related to the market conditions, product demand or political environment. However, regardless of the reason why you decide to exit the market, you must follow a formal liquidation process. Steps to liquidate a company in Guatemala 1. Inscription of dissolution agreement The first step to liquidate a company in Guatemala is to sign a dissolution agreement. In this step, the General Assembly of Shareholders meets to hold an Extraordinary General Meeting of Shareholders, where they make the decision to dissolve and liquidate the company. To exit the market in Guatemala, you must follow a formal liquidation process. At this point, a liquidator and a special executor will be appointed. The latter will be in charge of carrying out the dissolution process and undertaking other essential tasks, such as: Formalize the agreements made by the General Assembly of Shareholders.Grant the deed of dissolution of the company and register it before the Mercantile Registry of Guatemala.Carry out any other activity agreed by the Shareholders Assembly. Both the dissolution agreement and the appointment of the special executor must be registered at the Mercantile Registry of Guatemala. 2. Company dissolution deed The next step to liquidate a company in Guatemala is to grant the dissolution deed. To do this, you must go to a notary public in Guatemala, who will be responsible for preparing the company's public deed of...

How to Form an NGO in Guatemala

How to Form an NGO in Guatemala

Find out how to form an NGO in Guatemala to support social causes through nonprofit activities.  Guatemala continues to experience economic stability with a GDP growth rate of 3.6 percent in 2019. Moreover, the strategic location and a great number of natural resources place Guatemala as a country with great potential to develop socially and economically.  The Guatemalan government is dedicated to promoting the creation of NGOs in the country by offering benefits to interested parties. The Guatemalan government is dedicated to promoting the creation of NGOs in the country by offering benefits to interested parties. This is part of a wider initiative to improve social welfare in the country. Forming an NGO in Guatemala would benefit you and the social development of the country. Furthermore, executives must consider that Guatemala has an estimated growth of 4.4% for 2021, offering an increasingly attractive market to establish an entity.  Why establish an NGO in Guatemala In Guatemala, there are many opportunities to improve the social environment, and forming an NGO is the perfect method for doing it. Some areas of action that needs the support of private and public entities in Guatemala include:  Education Planning for families living in povertyCombat malnutrition Housing Environmental protection. Forming an NGO in Guatemala allows people to manage donations and start initiatives in order to accomplish social objectives.  Types of non-profit and non-government organizations Guatemala The constitution of the NGO is regulated by...

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