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Brazil Property News: Brazil's small business boom
29th April 2008 05:05
Entrepreneurialism in Brazil is growing as small companies grew by 8.6 per cent in Rio in February, it has been revealed.
The figure - from a study by the Rio de Janeiro branch of the Brazilian Micro, the Small Business Support Service (Sebrae) and Getúlio Vargas Foundation - was released by the Micro and Small Company Indices for the State of Rio de Janeiro (Impe).
According to Impe, the service sector performed particularly well pulling the overall average up with real growth of almost one-tenth (9.8 per cent).
Sergio Malta, superintendent director at Sebrae Rio, said: "These enterprises represent approximately 99 per cent of the enterprises in the state and employ 40 per cent of the official labour.
"That means that micro and small companies are mainly responsible for the net generation of work posts."
People considering buying property in Brazil could be interested to hear the news that suggests the country's small businesses are booming, hinting at an economic resilience in the Latin American nation.
Meanwhile, ANBA reported earlier this month that Brazilian businesses posted their biggest profits last year according to one consultancy company.
Date compiled by Economatica's research of 257 companies showed that the firms posted a profit of 123.7 billion Brazilian reals (£37 billion) in 2007 – the best results in terms of profit over the five years of President Lula's term in office.
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