As the seventh biggest economy in the world, it's no surprise that Brazil is receiving a lot of attention from exporters around the globe. For UK engineering and manufacturing firms keen to venture into this expanding market and develop their business in Brazil, opportunities exist in a wide range of sectors.
The Brazilian way of doing business can be challenging for British firms. Some of the frequent challenges are around bureaucracy, a complex tax system, employment legislation, under-developed infrastructure, language challenges, and fitting in to a different culture.
But help is at hand. A new Brazil Business Hub is being launched on 29 January 2015, at the GTMA’s Manufacturing Resource Centre, Alcester, Warwickshire, B49 6PU.
The Brazil Business Hub is a one stop shop for engineering and manufacturing sector companies looking to do business in Brazil.
The project is a partnership initiative between UK Trade & Investment (UKTI), the GTMA - a trade association representing engineering and manufacturing supply chain companies, and Commercial Doctor - a specialist consultancy with extensive experience in helping companies break into the Brazilian market
As well as putting firms in touch with relevant commercial services, the Brazil Business Hub will also provide a gateway to UKTI’s services including the Passport to Export programme for new exporters, Gateway to Global Growth, for more experienced exporters and the Overseas Market Introduction Service (OMIS), which puts firms in contact with key contacts overseas.
From initial advice, through to in-depth and long-term assistance in finding partners, engaging with major projects and setting up manufacturing operations, the Hub will assist firms optimise their potential for success in Brazil.
UKTI Regional Director, Paul Noon says: “Brazil is now one of the major opportunities alongside China, India and the USA, for companies looking to expand into world markets.
"However, Brazil is not a place to make a quick sale. Doing business in Brazil takes time, understanding and perseverance.
" Just as with any new market, firms need to do their homework and minimise risk by seeking the help of experts such as at the Brazil Business Hub and UKTI who will help firms learn how to make the most of Brazil’s warm welcome to foreign businesses. With the right approach more UK companies will be able to make the most of this huge market opportunity.”
Philip Gray, MD, Commercial Doctor says: “The Brazil Business Hub will place Brazil firmly on the map for UK firms. We are proud to be basing the hub at the heart of the UK’s engineering and manufacturing supply chain.
"The increasing dependence on engineering solutions for Brazil’s continued development provides an excellent opportunity for UK companies, which enjoy a world class reputation for sophistication, quality, safety and value.
“A key tip for doing business in Brazil successfully is to foster personal relationships - the human element is crucial in Brazilian business culture. We are looking forward to sharing our expertise to help firms in the UK succeed in Brazil.”
Several major UK engineering businesses are already present in Brazil including JCB, IMI, BAE Systems, Babcock, Rolls Royce as well as Jaguar Land Rover which is currently setting up a manufacturing plant in the State of Rio de Janeiro.
The Hub will also assist Brazilian companies to engage with industrial partners and technology sources in the UK.