How awesome would it be to hear from one of the world’s greatest investors about one of the world’s up and coming economies? Well wish no more, because that is exactly what you will get when you speak of Igor Cornelsen. He is a wizard of investing, and he is now speaking on all matters related to the Brazilian economy.
The big issue in the country as of late has been around the politics of that area. The President of Brazil has shown that she is not willing to move very far away from the populist politics that have shown zero economic growth in the area. It is something that is troubling to investors because they want a more conservative leader in the area who can really juice things up.
There have also been some scandals in the business world in Brazil that have had many turning away from that market in disgust. However, they may be doing so too early. As it turns out, there are many more who are willing to step in and soak up the money that can be made in an emerging economy such as this one. The country has some 200 million or so people living there (making it the 5th largest by population and size on earth). It is certainly not the kind of place that one should overlook.
He says that one should connect with the native people in that land, be prepared for red tape (regulation), and know about the restrictions around foreign currency.
On the first point, it is always a good idea to connect with the base of people that you wish to sell to. However, many overlook this in their excitement to start working in a new market. That is a big mistake, but one that can be easily corrected with patience. Always be patient and learn about the market before jumping into it.
The red tape part may be difficult to get around. Brazil has a lot of regulations that are designed to protect consumers, but often hinder businesses in the process.
Finally, the foreign currency restrictions are a big one. It is vital to study these restrictions and attempt to work with them in order to get your money into play in the country.