Find out the main points for anyone considering opening a new business in 2023
According to data from the Business Map Panel, there are around 20 million active companies in the country, of which 2.7 million opened in 2022. Brazil is among the most enterprising countries in the world: it went from 13th to 7th place in the world ranking of entrepreneurs, on a scale of 50 countries.
The fact is that the health crisis, caused by the Covid-19 pandemic, has caused these numbers to rise. In 2021, for example, a report from the Global Entrepreneurship Monitor (GEM) 2021, produced by Sebrae in collaboration with the Brazilian Institute of Quality and Productivity (IBQP), recorded that almost 10% of the adult population runs a business in the country.
“Many factors triggered by the pandemic ended up influencing many to undertake: the home office and the possibility of being able to balance the dishes between personal life and work; the insecurity in relation to unemployment, caused by the crisis; digital transformation, among others,” says the CEO of market4uEduardo Cordova.
expert advice
The entrepreneur gives 6 tips to those thinking of starting a business in 2023.
- 1. Study the market
To choose which branch of business to undertake, many only think about what they like to do, this too is certainly important, but we need to analyze together which problem we are going to solve, first if it actually exists and how big your market is
- 2. Landmark
Look at your competitors for what they do, how they do it and see what differentials you can offer with your business. Benchmarking, contrary to popular belief, is not about copying the competition, but about seeing if there is room for a new business in the same segment or possible gaps in the industry.
- 3. Very consistent business model
It’s useless just by undertaking, you have to make money with the business, right? Having a well-defined and designed business model will make you understand how, how long and what is the action plan to make a profit.
- 4. Study your target audience
Where? What does he do? How much would you be willing to pay for your service or product? You ask these questions relentlessly until you find all the answers.
- 5. Invest in marketing
In any business startup the budget isn’t that big, we know, but set aside a bit to advertise your business: by hiring a local digital influencer or agency to talk to your audience. Also, building a website and being present on social media is essential these days.
- 6. Start and be brave
Don’t wait for it to be perfect to start and don’t wait for the right time, otherwise you will never create your business. We always correct mistakes in the process – the important thing is to start with the bare minimum to make the business work.
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Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
