Step 2: Take Your Time to Identify the Most Attractive Markets

by | Jul 11, 2019 | Knowledge Center | 0 comments

“Which country is the most attractive market for my expansion in Latin America?” – 

“What is the best strategy to enter and conquer this market?” –

“How do I find the right partner to support my business in Latin America?” –

“What are the costs and risks involved in our market entry and how can we control them?”

If you are in charge of expanding your company’s presence in Latin America you will inevitably be confronted with questions such as these. And you will have to come up with the right answers. Every case might result in a different answer, yet there are some generally valid points that every company or investor should keep in mind when planning to do business or invest in Latin America.
Here’s what I have learned in 9 years of advising and supporting foreign companies and investors as Market Entry Specialist in Latin America:

Step 2: Take Your Time to Identify the Most Attractive Markets 

Once you are ready to enter Latin America, make sure you choose the right markets to enter. Latin America may be seen as a homogenous economic region by outsiders, but markets in the region differ significantly in regards to population, level of economic development, ease of doing business, regulatory obstacles, tax burden etc.

Do your research, talk to your contacts that have done business in the region, contact the investment promotion agencies of the countries of interest, read up on their economic and political situation. 

With 33 countries in Latin America and the Caribbean, this is a lot of work and probably not very effective. Using the help of an expert in the region can speed up this fact-finding process and guide you to the right decision. After all, sometimes the obvious choice like Mexico or Brazil is not the best one on second thought. It can be preferable to enter a smaller, ‘easier’ country first, gain experience on a small budget, make ‘cheap’ mistakes, learn your lessons at less risk and then expand to the bigger markets.

Our market intelligence helps you identify the most attractive markets by analysing different countries and their characteristics (consumer base, price levels, sales channels, competition, cost drivers, landed cost calculations, import and regulatory requirements, etc.). Base your decision on solid facts instead of blindly ‘following the herd’. 

Following the 9 steps during your market entry process will bring you a big step closer to success. At Ongresso, we help you unlock the potential of Latin America by assisting you with successful market entry and long-term growth in the region. 

Contact us to set up a free consultation to talk about how we can help you succeed in Latin America. Follow our social media at Linkedin and Facebook.

Daniel Breitenmoser is the Founder and CEO of Ongresso, a Market Specialist in Latin America who assists foreign companies with market entry and the achievement of long term success in the region. In his 9 years in Latin America, Daniel has helped an extensive list of clients across a variety of industries understand local business culture and implement their business model. His passion is to share his knowledge with like-minded people to jointly unlock the potential of Latin America. Originally from Switzerland, Daniel has found his new home in Medellin, Colombia. 

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Ongresso Colombia

Medellín:
Cra. 41 # 9-60 Office 202
Phone: +57 (4) 501 73 78

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Cra. 7 # 116-50

Phone: +57 317 441 0629

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