There are many definitions of entrepreneurship, but it is mainly considered as the “ability to start new businesses, especially when it involves seeing new opportunities” (Cambridge Dictionary).

If you feel a personal connection to this definition, it may be time to take a step forward and become an entrepreneur.

Timeline of Entrepreneurship in Brazil

In Brazil, entrepreneurship began to take off in the 1990s with the support of the Brazilian Support Service for Micro and Small Enterprises and the Brazilian Software Export Society.

Before that, the political and economic landscape did not provide the necessary support for entrepreneurs, and the consequence is clear: until then, there was no significant environment for entrepreneurship in the country, as consistency in this activity was accompanied by incentives and a more prosperous environment for the growth of SMEs.

This process was then intensified by Federal Government investment, which promoted an advancement in the entrepreneurial landscape.

How to Overcome Entrepreneurship Challenges in Brazil

01 – Studying the Market

As “Market” is a broad concept, there is a need for thorough research on market competition and its current state: growing, favorable, static, or risky.

This will define the challenges and opportunities your business may face.

02 – Staying Focused on Opportunities

Being attentive to opportunities is essential for those who want to start their own business. Brazil, as one of the most populous countries in the world, has great potential, as it has a large number of potential consumers to target.

Additionally, Brazil shines as a member of Mercosur, a regional trade bloc among South American countries. Therefore, an entrepreneur can take advantage of trade agreements with countries like Paraguay, Argentina, and Uruguay.

If you are looking for strategic international trade, Brazil may be the best place to invest.

03 – Planning Every Step

As the saying goes, “Rome wasn’t built in a day.” Keep this in mind and plan each step of your project well to develop your strategy and be truly efficient, especially if you are thinking of expanding your products and services to Brazil. However, when necessary, adjust and adapt as needed—no strategy should be immutable.

04 – Being Supported by an Experienced Team in Brazil

The reform of legal codes and regulations for starting and operating businesses in Brazil has not adapted at the same speed as the economy has grown. Therefore, it represents several obstacles for foreign companies.

Having a specialized team to help you understand and close deals in Brazil is essential!

ILM GROUP: Your Business Partner and Consultant in Brazil

If you are looking for a reliable team to support you in your ventures, count on ILM Group.

Aligned with our one-stop-shop philosophy, we offer professional and personalized management solutions, allowing our clients to focus on their core business.

This way, you can count on administrative, accounting, tax, and other services, all aimed at facilitating your business’s success in Brazil.

Our experienced and dynamic team is composed of over 25 executives, economists, accountants, and multilingual auditors who provide fiduciary and administrative services to a growing number of clients.

Discover Some of Our Services

• Fiduciary Services: Foreign companies and entrepreneurs who wish to establish Brazilian companies or acquire a shareholding must appoint a Brazilian resident as their attorney. The general manager (Administrator) of a Brazilian company must also be a resident of Brazil. We represent both attorney and general manager, ensuring seamless operations for our clients.
• Financial Services: We manage clients’ bank accounts, handle payments, and interact with banks, local authorities, and accountants, allowing clients to focus on business expansion.
• Accounting and Auditing: Our accounting team provides financial reports in compliance with national and international accounting standards.
• Technology Companies – Tax Optimization and Market Entry: We help tech and software companies enter the Brazilian market efficiently, optimizing taxes and simplifying operations without complex local structures.