Doing business in an unfamiliar country or part of the world is a challenge for any entrepreneur. But the most experienced investors know that success depends on building solid relationships with locals and surrounding oneself with trustworthy advisors. Doing business in Brazil is no exception. Sporting the largest economy in Latin America, yet the second most difficult country in the region to do business, Brazil is one of those places we come to love to hate. In a country known for bureaucracy, delays and red tape, foreign investment continues. The economic and political stability of the country, together with its sheer market size and continuing growth, seem to cause many to overlook the inherent difficulties. If you're thinking about doing business in Brazil, make sure you come prepared: know the law, know the language and know the culture.

Know the Law

When doing business in a foreign country, the first thing you need to know is the law of that country. What can you do and what can you not do. The laws in Brazil are quite different from the laws in the United States, and they are also quite different from the laws of other countries in Latin America. Make sure you are up to speed on Brazilian law by hiring a Brazil law firm or legal consultant who can guide you on the issues you may face. Your legal advisor should be someone you trust to help you navigate not only matters of law, but also matters related to your business operations. A good corporate and contracts lawyer is an asset you cannot afford to leave behind. Again, surround yourself with people who will look out for the best interests of both you and your business.

Know the Language

It's hard to imagine doing business in the United States without knowing English. Sure, English is different because it is "the international language of business." It will allow you to get by when doing business in Brazil and practically any other country in the world. But speaking the local language, in this case Portuguese, will do nothing but open up more and more doors for you. There are expressions and ways of doing business that are best expressed in the local language. Even just a few words, for example "hello" or "thank you", will help you meet locals and assimilate into the local culture. After all, language is a part of a country's culture, and understanding a country's culture is imperative to operating a business in such country.

Know the Culture

There is a lot to be said about someone who understands other cultures. When it comes to doing business in Brazil, knowledge of the Brazilian culture is a must. Take the story of Kentucky Fried Chicken (KFC). Ask any Brazilian when the last time they ate any food with their fingers was and they will likely tell you never. Then comes American fast food giant KFC. And just about as fast as it arrived, it left. KFC has in the past had great difficulty in penetrating the Brazilian market because Brazilians are not accustomed to eating chicken with their hands. Doing business in Brazil requires an understanding and appreciation for the Brazilian culture. It's something that must be lived and learned. With the help of a local advisor, you can avoid major cultural snafus and focus on what matters most - growing your business.