Ebook (IBNB)

Together with other communication specialists and consultants, I helped to produce the Tech Trade Ireland Brazil e-book: a report on Irish-Brazilian business, which addresses and contextualizes commercial relations in the tech services field between the two nations. The e-book is available in its original English, free of charge, on the IBNB website.

The report begins by examining the cultural relationship between the two countries, noting that Ireland is a popular destination for Brazilians aged between 25 and 35, looking to study English. It then discusses the commercial opportunities that Brazil offers in the field of tech services, as the fifth largest online market in the world, and suggests ways in which Irish companies can take advantage.

Silicon Republic ran a story and interviewed me about the kind of techn service demands Brazil needs, and how Irish companies can capitalize on a fast-growing market. The English-language article is available on the Silicon Republic website, and we have reproduced it below for those interested in learning more.

Silicon Republic Article

Can Irish tech companies capitalize on the Brazilian market?

By: Jenny Darmody

Many Irish tech companies are looking to the UK and Europe for expansion. But could there be more untapped potential far away? While Irish tech companies are becoming major players on the global stage, there are still pockets of the world that remain largely unexplored. While Irish companies naturally look to the more traditional markets of the UK, Europe and the US, a recent report highlights growth opportunities in Latin America

A recent survey by the Toluna research platform found that only 6% of technology companies surveyed are providing services in Brazil.

However, with Brazil being the fifth largest online market in the world, the opportunities for Irish technology to enter this market are enormous.

A report commissioned by the Irish Business Network Brazil (IBNB) found that 30% of companies active in Brazil report revenues of €500,000 from the country per year. The report estimates that these companies could be earning a total of between 6.6m and 9.8m in annual revenue from Brazil.

Brazil needs technology services

“Even in the midst of the Covid-19 pandemic, most respondents predicted that Brazil’s demand would grow over the next two years,” the report said.

Richard Fenning is IBNB secretary and SEO manager at B2W, one of the main e-commerce operators in Brazil. Unsurprisingly, he said that B2W saw an increase in digital activity during the blackout periods, but that customer demand for fast delivery and robust logistical networks could be challenging in Brazil.

“There is a huge need in Brazil for more efficient technological services. Irish companies and start-ups can take advantage of the current global climate to try new things and explore the largely untapped potential in Brazil,” he said.

While the Brazilian technology landscape remains largely untouched from an Irish business perspective, other reports also highlight its potential. In 2017, a Deloitte report on global fintech hubs found that Brazil had more fintech startups than any other country in Latin America.

According to Ireland’s Latin American Trade Council, trade between Ireland and Latin America grew exponentially between 2005 and 2017, from €1.3 billion to €6.4 billion with this growth expected to continue.

“Operating costs are higher in Brazil than in many other markets for many reasons – security and complicated tax systems are just a few examples. The absence of a double taxation agreement between the two nations can be a headache for Irish companies that trade directly with Brazil”, says the report.

“There are cultural nuances that need to be considered before a company invests resources in the market. This is not limited to market research to analyze demand for goods or services – it is necessary for companies to have a thorough technical, legal and cultural understanding of the market before significant resource engagement.

” One potential way to tackle this challenge is to tap the Brazilian talent pool within Ireland. According to the Department of Business, Trade and Employment, Brazilian workers make up more than one in 10 people who offered a work card in 2020.

The only other country that has provided more labor to the Irish market since 2018 is India. While it’s not clear from the data how many of these work permits fall into the critical skills category that would include ICT skills, there is potentially a large talent pool there for Irish tech companies to tap, which could also help them to reach the Brazilian market.