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Understanding El Salvador’s Business Etiquette

Understanding El Salvador’s Business Etiquette

Starting a new business can be a challenging experience, especially when doing it in a foreign country. The clash of cultures can become an obstacle if you don't understand how people of different nationalities do business. Therefore, when incorporating a company in Central America, it is vital to understand and embrace El Salvador's business etiquette. Effective communication with a Salvadoran Effective communication is essential when trying to impress business partners in El Salvador. Effective communication is a key to understand El Salvador's business etiquette. When approaching Salvadoran people, don't be surprised if they talk about their friends, family and food as much as they talk about business. However, note that Salvadorans will openly express their interests and business objectives, so you must be clear and specific with your business goals, processes and requirements. Furthermore, you must keep constant communication. Salvadorans will want to talk about specific dates and details, once they have a general idea of the project they want to undertake. There are other effective ways in which you should communicate with a Salvadoran, these include: While shaking hands, use the appropriate greeting for the time of day: "Buenos días"(Good morning), "Buenas tardes" (Good afternoon), or "Buenas noches" (Good evening).El Salvador is a formal culture where only close friends and family use first names.It is important to refer to people by the appropriate honorific title (Señor or Señora) and their surname until invited to move to a first-name basis. Punctuality is key...

New Law Set to Boost E-commerce in El Salvador

New Law Set to Boost E-commerce in El Salvador

Latin America has welcomed a number of technological revolutions in recent years, including online business activity (known as electronic commerce or ‘e-commerce’) and financial technology or ‘fintech’ innovation. With El Salvador right at the forefront, this development consists of introducing and implementing new technologies to perform activities and services such as transactions, purchases, sales, finances, and many others. These enhanced services allow people, businesses and banking institutions to save on money and time to capitalize on the convenience offered by the online commercial world.  The only drawback is that this explosive development has meant governments don’t necessarily have the right legal frameworks ready to nurture and regulate such trends as fintech and online business. A new law recently introduced in El Salvador has the primary intent of supporting e-commerce business. Regulation supports growing E-commerce in El Salvador Increased technological and digital capacity for South and Central American countries has opened up a new channel for businesses that’s rapidly growing, as millions of customers in the continent come online through greater use of mobile and other electronic devices.  Fintech activity surfaced in El Salvador a few years ago, although currently there are not many significant actors in this space in the country. In addition to banks, some fintech start-ups appear to be taking their first steps and are succeeding domestically. With the emergence of a new fintech sector, the country has already taken steps to formalize a regulatory...

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