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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...

Why Expand with a PEO in Australia?    

Why Expand with a PEO in Australia?    

Australia has made headlines due to its record of uninterrupted years of economic expansion among developed countries. Although there has been some de-acceleration in recent growth, the country has reached nearly three decades of continued positive development. Expanding to Australia is an appealing investment due to the country’s rich natural resources, education, and tourism. Australia’s economy is low-risk, and the workforce is educated and highly-skilled. To tap into this workforce, you can seek the support of a Professional Employer Organization (PEO). A PEO in Australia will empower entrepreneurs to link in with the country’s many international trade deals through skilled Australian staff that makes the country a great place to expand to.   We outline how PEOs can help you enter this exciting market. Professional Employer Organizations (PEO) in Australia PEOs partner with businesses through a co-employment model. Businesses retain control of all employees, but employees legally appear on PEO registries for compliance purposes. Additionally, PEOs provide payroll, benefits and human resource services. These employment organizations help interested parties to enter a new market. PEOs will ensure full compliance with the country’s employment legislation, offering cost-efficiency during company formation and ongoing human resource-related operations. In fact, according to a recent study performed by market observers, the average cost savings from engaging with a PEO is US$1775 per year, per employee. On top of that, it is reported that outsourcing PEO generates lower...

Opportunities for Business in Costa Rica in 2020

Opportunities for Business in Costa Rica in 2020

Though a small country in territorially, Costa Rica is committed to constant growth. 2020 projects a positive outlook for economic performance, setting Costa Rica as a pinnacle for investment opportunities in Central America. The government supports various initiatives to develop tourism, investment and national policies conducive to positive economic and social growth of the country. Business confidence is reflected in the increasing foreign direct investment in Costa Rica, which has significantly spiked this year. Costa Rica holds a strategically advantageous geographic location, with ease of access to major economic powers in Northern and Southern America through comprehensive maritime logistics facilities. We outline key areas in which we expect to see an increase in commercial opportunity for Costa Rican business in 2020. Business Opportunties in Costa Rica in 2020? Tech-savvy population supports innovative business International interest in Costa Rica’s tech scene surfaced around 22 years ago when Intel set its sights on the country and started operations within its borders. This put Costa Rica on the map for facilitating multinational companies’ activities. Though the above-mentioned aspects made Costa Rica an attractive destination for this investment, the key drawcard was the country’s highly trained and comparatively more affordable workforce. Tech businesses considering their expansion options require highly specialized skills, and Costa Rica was one of few countries in Central America who could offer the skills Intel needed. For 2020, Costa Rican universities...

Best Practice for Establishing a Company in Mexico

Best Practice for Establishing a Company in Mexico

Mexico is a key business destination in Latin America, thanks to its strategic location, strong trade relationships, and flourishing market made up of innovating industries. With an immense local population of around 126 million (second in the region behind Brazil) and increasing average household wealth, the consumer population is highly responsive to new products and services. This regional powerhouse poses a highly advantageous platform for entrepreneurs looking to do business locally and across Latin America. We explore the best way to establish your business and become an integral part of the economy’s bright future. Establishing a Company in Mexico - Seven corporation types There are many legal aspects to consider in order to establish your company in Mexico. First and foremost, you must choose the legal entity (business type) you want for your commercial activities. According to article 1° of the Mexican General Corporations Law, there are 7 classes of corporations.  Four of these can be established with variable capital: Sociedad en nombre colectivo (collective company) Sociedad en comandita simple (simple limited partnership) Sociedad de responsabilidad limitada (limited liability company or LLC) Sociedad por acciones simplificadas (simplified stock company) Sociedad anónima (public company). The other two options available to business owners are: Sociedad en comandita por acciones (limited shares partnership) Sociedad cooperativa (cooperative company). The most common choices for foreign businesses in Mexico are Sociedad anónima and Sociedad de responsabilidad...

New Fiscal Incentives Promote Buenos Aires’ Hospitality Industry

New Fiscal Incentives Promote Buenos Aires’ Hospitality Industry

Argentina is a regional hub of international activity, with a booming tourism sector and strong export channels. In 2018, the country’s GDP reached US$518.75 billion. A significant proportion of that was thanks to its foreign visitor population. Hospitality-focussed companies looking at their expansion opportunities in Latin America no doubt understand Buenos Aires’ reputation for tourist appeal. Leading the region in liveability, Buenos Aires is a hive of cultural and commercial activity. Recent incentives touted by the government to promote hospitality operations were introduced somewhat quietly, but should not be ignored. We explore a new promotion regime for hotel business in Argentina, and the benefits available to willing investors. Financial Incentives - Tourism in Argentina Argentina pushed Brazil out of first place and became the top tourist destination in South America in 2017. 6.7 million holidaymakers touched down in Argentina’s two international airports during that year, compared to Brazil’s 6.5 million. This was a record for receptive tourism in the country, according to its Minister of Tourism Gustavo Santos. The tourism sector, encompassing many different industries, injects so much money into the economy that it’s often among Argentina’s top 5 revenue generators. In 2017, tourists spent a total of US$5.4 billion enjoying the country’s vast geographical and cultural landscapes. Reflective of the country’s overall appeal, Argentina’s capital, Buenos Aires, was ranked by the Economist as the best city to live in Latin America. As a cultural hub, the city...

How Technology Can Reduce the Cost of International Expansion

How Technology Can Reduce the Cost of International Expansion

If you are a visionary local entrepreneur looking to expand your business globally, then you’re probably trying to figure out the most cost-effective option for doing so. Thankfully, all businesses and consumers have one of the most powerful international business expansion tools at your disposal: the internet. Thanks to technological growth, it is easier and more rewarding now to reach out to your prospective global clientele. With many social networks growing into massive marketing platforms - Twitter, Facebook, and Instagram, for example - finding international markets for your products or services is now more achievable and costs less. Besides that, technology has brought forth smartphones and tablets that have in turn brought more internet users online. These users are constantly making note of existing gaps in different markets, making their unmet needs clear, and freely displaying their interests and product preferences on social media. With the right idea to address these gaps, a well-thought-out strategy for your new business, and a meticulous execution plan for its launch, your chances of success are almost guaranteed. On top of helping with launching logistics, technology also plays a big role in minimizing other important business expenditure. This includes, but is not limited to, legal, localization, advertising, and translation costs. Learn more about how technology can reduce the cost of your international expansion. 1. Technology and International Expansion - Improved legal services One key challenge businesses have to contend with in the pursuit of...

Why Invest and Do Business in Indonesia?

Why Invest and Do Business in Indonesia?

Currently the sixteenth largest economy in the world, Indonesia continues to become an increasingly popular choice for savvy entrepreneurs wanting to break into Asia. Market observers expect Indonesia will become the world’s fourth-largest economy by 2050. Entering into the market sooner rather than later will offer significant returns on investment. Moving early enables you to capitalize on the growing market potential before your competitors enter the mix. With an economy that has grown more than 5% per year for the past 10 years, it's clear why Indonesia is a firm favorite among foreign investors. Below, we share just some of the reasons why you should consider investing and doing business in Indonesia in 2019. Do business in Indonesia's growing sectors As one of the world’s fastest-growing economies, Indonesia offers significant opportunities for businesses in a wide range of sectors. The country plans to complete construction on 15 new airports by the end of 2019 and add another terminal at Soekarno-Hatta International Airport in Jakarta by 2021. Businesses in the construction sector can capitalize on the demand for experienced contractors, technicians, architects, and project managers. The country’s education sector is another of unprecedented recent growth. With over one third of a million schools and universities, the country has the fourth largest educational system in the world. The sector not only requires new teachers, but more resources, training, technology, and construction to educate the next generation of Indonesians. Tapping into the market and entering...

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