South Florida event discusses opportunities of Brazilian expansion

February 22, 2013
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Brazilian Expansion

The benefits of doing business in Brazil are becoming increasingly evident, so more United States organizations are meeting to construct strategies concerning how to approach potential business opportunities in the country.

Last week, Martell Innovation, a strategy and planning consulting firm, organized an event at the Wharton Club of South Florida to discuss sales opportunities and cross-border operational challenges that could face companies planning to expand into Brazil. More than 100 people - ranging from executives to entrepreneurs and community leaders - attended to express their interest in South America's most attractive market.

According to a Martell Innovation press release, the event was sponsored by a number of companies such as American Airlines and Giraffas - organizations that have already experienced success in their Brazilian expansion efforts. Speakers stressed the importance of looking into Brazilian operations now, as key events such as the upcoming World Cup and Summer Olympics will likely spur greater growth in the coming years.

The words of Maxine Martell, CEO of Martell Innovation and event coordinator - resonated loudly with the local attendees. Martell suggested that while Brazil's growth can help companies across the U.S., those benefits will be felt even greater in southern Florida.

"As Brazil's wealth grows, its cross-border business with the U.S. will continue to increase dramatically, particularly with South Florida," she said at the event. "Brazil is already Southeast Florida's largest trading partner."

Of course, it's important that companies understand the legal process prior to Brazilian expansion. Without gaining firm knowledge of the country's business laws, organizations could run into trouble as they set up shop locally or partner with Brazilian firms. Luiz Silva, one of the event's speakers who owns several retail shops in both the U.S. and Brazil, warned attendees to be aware of the country's unpredictable business laws.

However, by working with a Brazilian lawyer, companies will gain the tools and knowledge they need on the legal end to proceed with their business efforts.

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