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Top 6 reasons to hire in Brazil

by Busines Newswire
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Brazil is a great destination for global companies looking for team expansion in Latin America. It boasts a strategically useful location, one of the world’s top 10 economies, and a diverse population.

All of this is complemented by cost-effective solutions for hiring international talent. The workforce is well-educated with a strong emphasis on engineering, IT, and creative careers, available for work at competitive rates.

With an expanding middle class and rising foreign investment incentives, the country is in a great place to profit from international collaborations such as the powerful BRICS, of which it is a founder member. Brazil offers an ideal environment for companies seeking to innovate and grow.

Country overview

Brazil is the fifth-largest country in the world and home to the seventh-largest population, with more than 215 million people. It is also known as the ‘Giant of South America’ due to its expansive territory.

This country is famed for its natural resources and agricultural output, with soybeans, iron ore, petroleum, sugar, and meat among its most lucrative exports. It has a large industrial base, concentrated around major urban centers, such as the metropolis of São Paulo.

As for education, Brazil has many of the top universities in Latin America, like Unicamp, USP, and so on. Access to higher education is facilitated through governmental grants and federal public programs.

The Brazilian business community is known for its creativity and diversity, while people are generally admired for their resilience. This makes the country a great place for hiring internationally.

Top six reasons to hire professionals in Brazil

1) Booming startup scene

Brazil stands out among the Latin American startup ecosystems, as it is positioned among the top five global economies with the highest startup creation rates. The country has also given rise to more than 13,000 startups in the last ten years.

Additionally, it is the home of 19 privately owned startups worth over a billion dollars, known as unicorn companies. Notably, Brazil is the sole Latin American nation featured among the top global unicorn markets, ranking 10th, after South Korea.

Brazil has had a particular emphasis on the areas of e-commerce, fintech, and foodtech. As international investment flows increase, startups hold the potential to exert substantial influence on the trajectory of the nation’s economic future.

2) Reaching new tech talent

Brazil’s tech workforce is making a significant impact on software firms. This gives access to top-tier professionals, a culture of producing results, and cost-effective investments.

The nation offers untapped pools of highly skilled engineers, many of whom boast credentials on par with their international counterparts. Moreover, the top experts in programming and technology are often enthusiastic about participating in global contexts, viewing it as a crucial step in their professional advancement.

The boundless expansion of Brazil’s technology sector serves as a testament to its status as one of the most dynamic markets in the economy, with ample potential for sustained growth.

3) Cultural and linguistic diversity

The country’s official language is Portuguese, which ranks in the top 10 most spoken languages in the world. Working with professionals who speak Portuguese can give you access to a wide new market.

As for English proficiency, many Brazilians have had access to English learning for plenty of years, as both English and Spanish are taught at schools. University graduates must study English, meaning that professionals will have a reasonable command.

Additionally, Brazil has widespread communities of other foreign languages, such as German, Italian, and Japanese. Brazilian linguistic and cultural diversity brings multiple opportunities when you’re managing a global workforce.

4) Streamlined visa processes

As a huge tourist and business destination, Brazil has relatively streamlined access to visas and work permits. Reforms in recent years have made it easier and easier for foreign nationals to live and work in the country.

Affordable living costs make it easy to reside in Brazil with a work permit for a short to medium period while expanding a business. This makes Brazil a good destination for digital nomads, which in turn increases its culture of international teamwork.

5) Recent labor market and economic growth

Brazil has seen its unemployment rate drop to the lowest level after almost a decade. The country is benefitting from a virtuous cycle driven by the resurgence of robust labor markets that stand out as a recent sign for the strength of its economy.

Many Brazilians are more than ready to re-enter the workforce after they were sidelined during the pandemic years of economic slowdown. As the local market is unable to provide sufficient positions, local workers are seeking global opportunity.

6) Possible expansion to other markets

Brazil serves as a strategic gateway to other markets in South America, sharing borders with most countries in this region and doing brisk trade with them all. This geographic advantage can be a crucial factor for expanding in the continent.

The Brazilian business culture is similar to its neighbors, making it easier to navigate their markets and cultural expectations. It can be a base for operations in Latin America, especially for foreign companies that are new to the region.

Also, Brazil is a part of the Southern Common Market, Mercosur, which promotes economic integration and collaboration. The influence of Mercosur extends to economic, political, and business cooperation, making regional expansion a reality.

Extra benefit: no entity needed

Brazil is known for its complex labor laws which protect workers from being misclassified and not receiving their respective benefits regulated by the constitution. If you plan on hiring Brazilian employees directly, you need to set up a regional legal entity that your local employees can respond to.

However, there are some options for recruitment and personnel management that won’t require setting up your own entity, such as an employer of record. These companies act as legal entities for other businesses in many countries.

A global EOR, for instance, can also help you navigate regulatory complexities, offer regional insight, streamline onboarding, and even provide HR support. Such collaboration allows you to unlock the many benefits of hiring and managing people in Brazil, expanding your workforce efficiently.