Recommendations tips for doing business in Peru

As business opportunities in the Peruvian market are varied. These include construction, architecture and engineering services, suppliers for the mining of goods and services, higher education services, software, and ICT industry, gourmet products, as well as packaging, packaging, and labels for agribusiness. Therefore, it is not surprising that foreign companies that wish to enter Latin America are targeting Peru.

To start a business in Peru, a contact network must be created, that is, establish an agenda of meetings with the main actors linked to the market or niche of interest, with which you can explore not only the possibilities of the business but the network of contacts associated with this. Thus, having a local partner is essential when entering the Peruvian market.

The Peruvian entrepreneur to establish business with foreign companies take into account the quality of the products, delivery opportunity (speed of service), competitive prices, compliance in quality, quantity and delivery date, supplier certifications (ISO, HACCP), absence of intermediaries

Recommendations tips for doing business in Peru

Business appointments are made two or four weeks in advance and must be confirmed. The meetings do not start at the set time, so I recommend adding the phrase “exact time” in invitations and other communications; However, it is advisable to attend the appointments at the agreed time, as a sign of seriousness and respect.

Business meetings are usually from 9:00 am to 12:00 pm, appointments are also accepted in the afternoon from 3:00 pm to 6:00 p.m. Lunch hours in the country are from 1:00 pm to 3:00 pm, and meals from 9:00 pm to 11:00 pm

Protocol and form are highly important factors during the initial phases, linked to the first approaches. The usual way of greeting is the handshake to the presentation and farewell for both men and women. Hugs, claps or kisses on the cheek (in the case of women) are used when you have a friendly relationship. The Peruvian businessman before entering into specific business matters usually comments on his gastronomy, culture and tourist places.

Negotiations generally begin with those who hold the highest positions within the company, whether private or public; However, sometimes middle-level people can negotiate, mostly representatives of a technical nature, but those who define the business are the ones with the highest charge. In a commercial negotiation, “bargaining” is often used, which is present in both large businesses and in everyday life.

The Peruvian negotiator, speaks a lot and shows mastery of the topic that summons him, a concept that is part of emotional management, of power tactics if you want, that allows them to set inflexible positions at the beginning, and then show interest or disinterest in a variable way, calm or anger, and then close the negotiations. To complete a negotiation, avoid confrontations when negotiating with your Peruvian counterpart, you have to be very soft in the ways of the tone of voice or gestures.

Finally, in the case of conducting business with the State according to law, it is mandatory to have an agent or legal representative.

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