“`Brazil is not for beginners,´ Tom Jobim once observed. For foreign investors, the words of one of the country’s greatest 20th-century composers and songwriters and the force behind bossa nova, Brazil’s lyrical fusion of jazz with homegrown samba, have never resonated so soundly.”
The Financial Times has written an excellent article which encompasses the experiences of Brazilians and foreigners working in Brazil, and how they are facing, and overcoming, the economic challenges taking fold in the country presently.
Below are some of the highlighted quotes, which describe some of the main points of discussion throughout the article. There is a lot more useful and relevant information presented as well:
‘The recession represents opportunity’
“In their words, Brazil is one of the last great markets of its size that is being ignored by most of the world. These entrepreneurs are drawn, often from the most developed economies, by Brazil’s vast and comparatively new urban middle class, estimated at more than 100m people. Many in that class have a taste for the spoils of consumerism and an appetite for technology and social media.”
“The recession represents opportunity. The weakening of Brazil’s currency, the real, against the dollar has made the country more affordable for investment and recruitment than the US and many other countries.”
‘Brazil remains a buyer-beware market’
“Business incentives aside, expatriate entrepreneurs are also lured by Brazil’s warmth and glamour. After all, none of the other big Bric economies (Russia, India and China) offers beachside neighbourhoods in large cities with the ambience of Ipanema or Copacabana.”
“Brazil remains a buyer-beware market, as Jobim understood instinctively. Yet despite the pitfalls, many global citizens build successful companies.”
‘Embracing the language is important, even if we do butcher it’
“He is anxious not to overdo cultural stereotypes, but Bell reckons that the New Zealanders’ Anglo-Saxon traits of planning and organisation, such as pasture management, have blended well with Latin characteristics such as creativity. “Embracing the language is important, too, even if we do butcher it,” says Wallace.”
‘It is the job of entrepreneurs to solve problems others do not want to tackle’
“However, there is a sense that Brazil’s hardy entrepreneurs relish the challenge presented by profound change. DeMello captures the mood. He says it is the job of entrepreneurs to solve problems others do not want to tackle.”
“`If you know how to execute and you have the stomach to deal with the idiosyncrasies of operating in Brazil, and you have the investor backing … the opportunity is huge because all these things make up a barrier to entry [for others],´ he says.”
To read the entire special report presented by The Financial Times, click here.