Our world is changing at a remarkable pace. As technology continues to advance, savvy investors and businesses are thriving in the global marketplace. While Asian countries attract plenty of attention, Latin America is often overlooked.
For the right business with the right plan, this region is an untapped source. If you’re looking for opportunities to scale and expand your business, consider the potential here.
These are the top 3 reasons to do business in Latin America:
1. Natural resources: This area is rich in iron and copper mines. The iron here makes up one fifth of the world’s supply, while copper makes up one fourth. Businesses dealing with manufacturing steel would benefit tremendously.
And let’s not forget the large supply of fresh water and fisheries there. An abundance of anchovy and shrimp is available as well.
2. Increasing government stability: In an effort to attract more international investors and businesses, many of the governments have implemented programs aimed at simplifying business dealings and hiring workers.
3. Distance: Instead of shipping supplies and products from Asia, the relatively close proximity of Latin American countries shortens the time needed for supplies and products to move between one place to another.
Saving time equals saving money, obviously, but it also means fresher items and products moving more quickly.
There are a other important factors to consider when doing business in Latin America. For starters, it’s crucial to hire a competent local liaison to smooth the way. Also, it is vital to be able to communicate in the local language. Because of this, many investors and business people who are looking to start ventures in Latin America are taking the time to learn spanish online with the help of a native coach.
As long as the governments in these countries continue to work with investors and interested companies, Latin America remains a critical player in the global economy.