Partner Article

Brazil proves a tough nut to crack

Expanding overseas is a feat that every ambitious business owner wishes to accomplish, writes Sam Ellis, Finance Director, Muc-Off.

Although a small company, we are already well established in over 40 countries worldwide and have achieved great success in overseas markets.

Nevertheless, one particular territory has proved particularly difficult to crack, despite us already having a presence there.

Brazil is a country that offers huge potential to corporations from across the world and, as a bourgeoning economy, it offers a wealth of opportunities for entrepreneurs and small businesses.

Several months ago I decided to find out whether there was any assistance available to companies like mine who are faced with language barriers, complex legal systems and lack of local, on-the- ground contacts. After only a little searching I was fortunate enough to find and secure a place on a trade mission to Brazil through the UKTI and the Santander Breakthrough Programme, which is designed to help small businesses grow and gives them a step into a new market.

Being on the ground in Brazil was a fantastic and eye-opening experience. The ability to meet our contacts face to face helped us understand the market in much greater detail and develop connections with people who can help our business flourish.

While further developing our relationship with our existing distributor, pre-arranged meetings with four new contacts helped us to show off our new car product range which we are yet to introduce into the country. Furthermore, the trip provided us with the perfect opportunity to understand the complex Brazilian tax system and learn how we can overcome potential hurdles.

If you are wondering how you can expand your business during challenging economic times, I strongly recommend you look overseas and take advantage of a host of untapped markets and new growth opportunities. Following my trip, we are now looking forward to developing our new offering in Brazil and this boost will come through not just existing trade relationships, but a much more in-depth understanding of business operations in an emerging economy.

This was posted in Bdaily's Members' News section by Muc-Off .