The series of Credit Congress educational sessions focused on international business did not stop with those on Canada and South Korea, covered in NACM's blog last week during Credit Congress. A trio of session, presented in conjunction with FCIB, covering three other key nations also drew interested audiences and rav ressions.
Like the session on South Korea, Kyle Choi, Esq. of Bluestone Law Ltd. also led the “Doing Business in China” session focusing on opportunity, cultural nuances and the often overlooked yet critical topic of population breakdowns. “Some people are worried about not having enough population growth,” said Choi, noting that this is a remarkable sentiment to be felt in a country comprised of 1.3 billion residents. Referring to China’s one-child policy, he quipped, “in 10 to 20 years, we’re going to have huge aging population issues.” Choi went on to warn that China’s meteoric growth could soon become a thing of the past as the nation tries to grapple with inflationary concerns.
“Doing Business in Brazil,” was especially well-attended session under the direction of native Brazilian Octávio Aronis, of Aronis Advogados. The interactive session included significant discussion on collections in Brazil, a topic that has frustrated many companies and credit professionals involved in Latin America’s hottest market. “Based on collecting over there, I think it’s much better if you hire somebody in Brazil to do your collections,” said Aronis. “This is the best procedure. You send them to the local professional, and he knows the law. I wouldn’t be wasting my time with overseas collectors.”
Hiring a local also became a hot topic during the final session of the five-part series, one focused on Chile. Christian Laborda Mora, of Laborda Abogados & Asociados LTDA, said credit professionals/businesses who do not sweat the small stuff when dealing with Chilean businesses often simply don’t get paid.
“Basically, the bank executive will not provide you information if you have a problem; Also, culturally, you’re likely to offend when the bank tells the representatives from the company that you were investigating them,” he said, noting it’s part of why employing someone who knows the business and communications culture there is a near necessity. “You probably should hire a Chilean lawyer. There are often good results even when we just send a letter. People don’t like receiving a letter from the lawyer and, if they see the letter is coming from Chile, they know you’re serious and think ‘I could face problems.’”
More coverage from the “Doing Business In…” series will be featured via a variety of NACM platforms including the summer edition of the FCIB newsletter and the July/August edition of Business Credit.
Brian Shappell and Jake Barron, NACM staff writers