By Vinícius Luiz
Have you ever considered that the borders of your business can be the only thing standing between the extraordinary potential of your company and the international success?
We often underestimate the vast potential that Brazilian small- and medium-sized enterprises (SMEs) have. Brazil is home to a significant number of SMEs, driving the economic strength of the country. However, although challenging, the business journey in Brazil sometimes limits our view to familiar border. Expanding beyond these borders, particularly to the Middle East, may be key to unlocking a relevant growth.
When looking upon this region, it’s crucial to understand that the Middle East is not just a growing market in itself but a bridge to global markets. The diversity of these nations creates a demand for a wide range of goods and services, thus offering a wealth of opportunities to SMEs.
Despite what you may think, investing in the Middle East is easier than it looks. The business. The business environment in countries like the United Arab Emirates, particularly in Dubai, is favorable to companies of all sizes. Local governments have implemented measures to facilitate the entrance of foreign companies by cutting the red tape and offering tax incentives.
By diversifying horizons, we mitigate risks associated with a single market and expand our growth potential. I cite here a relevant thought of a renowned philosopher, “Diversifying is the path towards resilience, and resilience is the steppingstone for success.”
Business opportunities in the Middle East are vast, and the figures support this promising landscape. Countries in the region import a wide range of goods, from technology to food items. In the specific context of Brazil-Arab League trade, year to date through August Brazilian exports to these 22 countries grossed USD 12.528 billion. Meats, sugar, iron ore, and foodgrains lead exports, showing the diversity of industries that could thrive in this market.
A good example is Orbital, a Brazilian innovation company that has found in the Middle East not just a market but somewhere to export our Brazilian talent to. In our specific case, the expansion to Dubai was marked by amazing findings. Industries like technology, innovation and sustainability are rising, thus creating an environment that is fit for companies that seek not only to expand but to contribute towards a positive global discourse.
By internationalizing their business to the Middle East, Brazilian SMEs not just broaden their customer base but play a crucial role in disseminating the Brazilian quality and innovation across the world, too. This is a way to make the “Brazilian way” become synonymous with efficiency and creativity.
Looking ahead, I invite you, Brazilian businessperson, to seriously contemplate the opportunities that the Middle East has to offer. The numbers speak for themselves – Brazil-Arab League trade is reaching new heights. Therefore, I’d like to ask you, do you really believe your company can’t tap into a market this big?
*Vinícius Luiz is innovation director at Orbital, a company that takes innovation processes to companies.
Translated by Guilherme Miranda
