Cultural Insights: Understanding Best Business Practices and Cultural Differences in Latin America

South America is a region with diverse cultures, languages and traditions, but despite these differences, you can find similarities across business etiquette in most countries.

We have to bear in mind that International Business is about more than deals and strategy: Understanding local Business Practices and Culture is a key factor that is often left unconsidered in global business plans. Whether you’re looking to expand your business, secure a partner or gain market knowledge in Latin America, BusinessHub Consultants is your guide to the LATAM business landscape.

4 core elements of Business Culture in Latin America to jumpstart your learning:

1. Hospitality

Though diverse, Latin American countries are widely known for hospitality and a warm welcome. Greetings may vary from the handshake of the Western world. In Chile for example, women are greeted with a kiss on one cheek while men shake hands.

2. More Relaxed Concept of Time

Business runs on a schedule in Latin America, but time is viewed more as a framework than a finite beginning and end. This can manifest in the business context through extended social lunches or meetings that go past their allotted time.

3. High Value of Relationships

Family is a treasured part of life in Latin America and you’ll find that in many cases, that social value extends to the office as well. Enjoying the company of your colleagues is an important consideration in workplace happiness so companies take care to treat employees like family and coworkers are often friends outside of the office.

4. Different Modes of Communication

Whatsapp is a key method of communication in Latin America. Whether you’re getting in touch with colleagues about a business proposal or booking a restaurant reservation, Whatsapp is definitely recommended for your time here.

BusinessHub Consultants International Business Coaching

BusinessHub Consultants ensures our clients have a robust understanding of Business Practices in Latin America, from regulatory and compliance, to everyday business etiquette.

We offer international business coaching as an independent service or adjunct to our other international business development offerings. Our clients are grateful for our local expertise. Alex of Applied Medical Technology commented, “We have officially signed a Distribution Agreement with one of the Colombian leads you found. This business relationship would not have been possible without the hard work and assistance of your team throughout our partner search and even after the B2B meetings had concluded. The quality of potential partners that we received back from your team (in both Argentina and Colombia) and the input during the B2B meetings is a cut above the other foreign contractors that we’ve worked with for these types of projects”.

Our team has led over 2,500 government agencies and companies through successful business development in LATAM. Explore our full range of LATAM business consulting and advisory services and reach out to info@businesshubconsultants.com for a free consultation.