Ships from Portugal arrived on the central coast north of Rio de Janeiro in the early 16th century. Now, Brazil is the only country in South America that speaks Portuguese, and one of the ten territories that consider it as an official language worldwide.
Slavery in Brazil lasted for 300 years, and it imported some 4 million Africans to the country. Making it the last country in the Americas to abolish slavery, in 1888.
Beside the hard past, Brazilians are known for being friendly and happy. Music is a vital part of everyday life in Brazil. Its cultural richness and its abundant innovation are based on the strong and spectacular racial miscegenation evident in the culture of the country.
In the summer during Carnaval, big cities host massive parties in the streets when the sun comes down. Meeting locals and tourists in one place, dancing and laughing together with the sound of drums on a fast- paced samba.
SMEs (Small and Medium-sized enterprises) play an important role in Brazil’s economy, accounting for 62% of total employment and fostering social inclusion. Although Brazil has a strong network of startup incubators and accelerators, according to a report, there is scope for growth and innovation-led investments in the Brazilian SMEs that you can fit in.
The Federal Constitution gives preferential treatment to SMEs in tax and labor laws. For example, Brazil implements different tax regulations for supporting the survival of SMEs.
After facing one of the worst recessions in its history, Brazilian consumers are now more cautious and conservative. 3 out of 4 consumers are dedicated to saving more, actively looking for the best discounts and competitive prices for goods before making a purchase.
Almost 35% of Brazilians are loyal to brands but prefer to buy the most affordable or cheapest goods under the trusted brand. Almost 21% of consumers are willing to trade-down or switch brands for savings, as opposed to the global rate of 12%. This provides a huge potential for competitive goods, especially because Brazilian consumers do not tend to switch back, after the trade-down.
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