Expansion: Market Entry – Latin America
Your Gateway to Latin American success!
Last month our Country Managers painted a fantastic country–by–country case for the opportunities that exist across Latin America, so there is little doubt that the region presents huge opportunities for companies looking to expand their global footprint. Nevertheless, there are many examples where global brands have vastly underestimated the complexities of market entry into the region, so at BLH we have launched our new Market Entry Service to accompany you through the hazardous process. Across the region we have put at your disposition the professionals, resources and infrastructure to help, so how can we at Biz Latin Hub assist you and your company evaluate and enter the region effectively??
Time is of the essence!
Maybe you are one of the many companies have Latin America on the radar but who still do not have the time or management resource to develop your regional strategy accordingly. Stretched resource can result in poorly informed or ill-prepared decisions that are destined to fail in the medium term.
You should remember that Latin America is a relationship-based culture where developing business and even personal contacts does take time. Many companies arrive on short-term visits expecting immediate results, but are then astonished when they return to HQ and the business is not forthcoming. Furthermore, if we consider the huge distances (both physical and cultural) between markets so diverse such as Mexico and Chile, Colombia and Argentina, developing a consistent market development strategy will take significant time and financial commitment.
One size does NOT fit all…
What may work in Peru will not necessarily work in Panama. The mining or retail sectors will present hugely diverse challenges in each country, and even within each region of a specific market. Many companies see the Spanish-speaking bloc of Latin and South America as a homogeneous market, but this is a dangerously simplistic view even before considering the array of varying laws, rules and regulations that apply. Choosing the right partner combining international credibility yet local knowledge and expertise, providing a proactive and fairly-priced service.
Our Market Entry team has first-hand experience of the challenges of growing companies internationally, both from the private sector and as business consultants assisting other companies in different market, experience that we have combined with local expertise in each individual market. Our clients have continually told us and shown us what they need, hence Biz Latin Hub has developed the following services to complement our already robust back-office functions:
- Enquiry Services: – An Initial 30-minute market consultation service (at no cost) with one of our Market Entry Specialists in order to better understand your needs and objectives within the region and market by market.
- Market Research – Access to on the ground market knowledge and support in order to understand the local market and key business drivers; thereby identifying competitors and optimal routes to market for your products or services.
- Market Development Visit – Maximize your time and effort visiting key market leaders, industry experts and customers with a structured and customized visit program designed by us, accompanied by a bilingual member of our team.
- “Biz Hub” Business Centre Services – Access to secretarial support services, hot-desking space, private office facilities, executive meeting rooms, all with state-of-the-art technology and connectivity for your temporary or long-term requirements.
- Event Management Services – Event and marketing services through holding targeted events, media strategy development and product promotion
- Ad-hoc Consultancy – Let us know how else we could help you! We can leverage our existing Biz Latin Hub experts to help design optimum structures and locate the right professionals to drive your business forward, at both Regional or Local level.
Biz Latin Hub is uniquely placed to help you and your company not only identify your optimal route to market, but we can also support you as you implement your strategy in one or all of the markets where we are present our office network and back-office support.
If you are interested in a free consultation or exploratory conversation regarding our Market Entry capabilities, please contact us on [email protected]
Drafted by: Mr Andrew Wright, Biz Latin Hub Director of Market Entry (LATAM)