São Paulo has a population of more than 10 million. Rio has more than 5.6 million and Belo Horizonte has 2.1 million people. Those three cities are part of the Endeavor Index list of cities that are offering foreign businesses growth in 2016. Endeavor is a Brazilian organization that helps entrepreneurs identify the necessary ingredients for a solid business environment. Some of those ingredients are an expanding infrastructure, an innovative and creating city government, access to capital markets and a decent regulatory structure.
Endeavor listed 32 Brazilian cities that are prime candidates for foreign businesses that want to establish roots in Brazil. The top five cities are São Paulo, Recife, Florianopolis, Campinas and Victory. All of those cities are experiencing tremendous growth in spite of the recession that has crippled the country. Those cities have everything that investors want when a country is trying to recover from a recession, according to the Vice President of BMG Bank, Marcio Alaor.
Marcio Alaor is familiar with the business structure in Brazil. Alaor has played a part in his bank expansion plan, and he has also been a part of establishing a new marketing plan that included a partnership with the fifth largest bank in Brazil. As the bank’s director, Alaor has invested in several foreign business ventures, and all of them have been successful. BMG Bank is now the most recognizable family owned bank in the country, and Alaor is a sought after speaker.
When S&P downgraded Brazil’s debt to junk status, foreign investors left the country in a hurry. The downgrade and the exodus exacerbated the country’s economic issues, but the Endeavor Index list shows that there are cities in Brazil that are thriving and growing every month. Even though the country is down, cities like Florianopolis and Recife are performing better than expected.
São Paulo will always be the focal point of business, but the other cities on the list are more attractive when all the business requirements are analyzed.
Business in Brazil is coming alive again, and Alaor believes 2016 will be the year the country starts to recover from the recession. The Endeavor Index shows all the business tools are in place for cities to welcome new foreign investors with open arms. All that’s needed is a little government help, and some positive press articles to bring more foreign money back to the eighth largest economy in the world.