Starting a business has always been a tough feat, but going down the Entrepreneurship route can also be extremely rewarding to those who are successful. Every region of the world provides aspiring entrepreneurs with different opportunities, and each region differs in a variety of factors. While the general concept of entrepreneurship is more or less the same, the way that it is approached really depends on the location. With the rapid developments in the South American economies over the last decade, staying on top of opportunities and the general landscape of the market is essential information for entrepreneurs. As such, there are certain aspects and trends in particular for entrepreneurs to consider in the South American market today.
- Growth of Entrepreneurship
Countries are starting to invest more into programs targeted toward individuals who are aspiring towards a path in entrepreneurship. The South American countries have realized the value that entrepreneurs will bring to their economies and the overall economic growth. EEPs (Entrepreneurial Education Programs) are found throughout South America, and the governments have started to increase funding for such programs.
Trade agreements make the ease of doing business much easier, and MERCOSUR is the trade agreement that is of the most important in South America. For the full members: Brazil, Argentina, Paraguay, and Uruguay, this allows for free trade within those countries. The rest of the continent, excluding Venezuela and French Guiana, are associate members of the trade agreement, and while they don’t have completely free trade, there is still a reduction in tariffs. With all this in mind, life for entrepreneurs who are looking to expand into neighbouring countries will be that much easier because of this trade agreement.
- Social Media
Within the South American market, social media has a larger foothold on the population than you would initially think. Although much of the population grew accustomed to the internet after other developed economies around the world, social media is one facet of the internet that has taken an extremely strong hold on the population there. It is so influential, that this region has the highest daily media consumption in the world, and this has consequently made the population much more prone to purchase products that are promoted through this medium.
- Social Responsibility
From a geological standpoint, South America is the most biodiverse continent in the world. With the continuous deforestation of the Amazon, being socially responsible is even more important here than it is in other regions around the world. Surveys have found that consumers in South America are more concerned about climate change in comparison to any other group of consumers. As such, this trend continues to grow in this part of the world, especially as South American governments continue to allow deforestation to continue.
As a whole, the entrepreneurial outlook is very intriguing for the reasons aforementioned above. While there are many positive attributes to this region of the world, it can still be troublesome, especially when it comes to aspects of the business where the entrepreneurs may not be as competent. Third-party logistics is an industry that has grown as of late, and it is a trend that entrepreneurs are utilizing more often when they don’t have the expertise in specific areas of the business. MBE is one of these third-party solutions, and they have a proven business model that provides shipping, fulfilment, print and marketing solutions. Especially as entrepreneurs look to expand outside of their country, MBE already has an extensive worldwide network that they can utilize to help achieve this. The combination of all these factors really puts MBE in a great position to help entrepreneurs navigate through the South American market.
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