What if your new business could flourish if you simply started it somewhere else?
Or, have you ever given a thought to expanding your operations to South America?
Many owners begin startups in their own backyard, but there are plenty of opportunities for doing business in Peru.
Keep reading to discover five significant benefits of starting a business in Peru!
1. Booming Economy
One great reason to open a Peru business is their economy. Put simply; it’s better than ever!
At 5.5% annual growth, Peru is the swiftest growing economy in Latin America. For a business hoping to make a quick start, this is one of the best places for a startup!
Fortunately, the country has a market that matches the economy.
2. Large Market
You simply have to look around Peru to discover a simple secret. This market is absolutely huge.
There are over thirty-two million people in Peru, and the country represents the third largest market in Latin America. For businesses hoping to quickly expand and build a brand, this represents an unparalleled opportunity.
The large population and healthy economy combine to create high levels of consumer confidence. There is a lot of disposable income floating around the country, so a startup can profitably flourish while also building a global brand.
3. Low Inflation Rate
Inflation is typically the “x” factor when it comes to evaluating an economy. If the rate is high, it will eventually undo an otherwise healthy economy.
Fortunately, this is another significant benefit of doing business in Peru. The inflation rate for the country is at 3.6%, making this the second-lowest inflation rate in the entire region.
During a time when the economy seems uncertain in other countries, Peru is a very safe bet for any startup. The business gets all the benefits of places like North America but with far lesser risk!
4. Investors Are Welcomed
So far, we’ve focused a lot on the economic numbers of Peru. However, some business owners hesitate to open a business somewhere else because they worry about the cultural climate.
In Peru, this is a non-issue. The country actually welcomes foreign investors, seeing them (and rightfully so) as a sign of their own growing economy.
Generally speaking, the locals are very friendly and very talkative. This creates an atmosphere that is not only welcoming to outsiders but one that also presents different opportunities for the sale and marketing of new products.
5. Easy to Start
The final reason for doing business in Peru is that it’s very easy to get started!
Government organizations such as the U.S. Commercial Service in Lima are ready to help your business get started. And organizations such as the Biz Latin Hub Group are ready to provide regular info to help your new business thrive!
Doing Business in Peru: The Bottom Line
Now you know why you should be doing business in Peru. But do you know the next step to take?
At UpGifs, we provide a perfect blend of both lighthearted comedy and actionable business tips. To see how we can help your startup sizzle, be sure to check out our business posts today!