Doing Business with Peru

PaulSourcing: Ten Commandments for Doing Business with Peru

The PaulSourcing agency has prepared ten recommendations for doing business with Peru for Czech entrepreneurs interested in business relations with Peru. In 2020, it was supplemented with 4 current tips.

4 recommendations for entering the Peruvian market during the coronavirus pandemic situation:

1. Contacting the foreign office of PaulSourcing First of all, contact the foreign office (ZK) of PaulSourcing Lima – introduce the company and the product. This information will be used to search for potential business partners using a paid database. To search and compile a basic long list from a company, you will need the HS codes of the products you plan to import to Peru or contacts that you have searched for yourself, but the companies do not respond to your e-mails.
2. Selection of suitable business partners After we have sent the long list, we recommend that you go through the list of companies thoroughly and determine which companies you would be interested in, of course we can contact all the companies on the list. In the list, focus on the size of the company, expertise and possibly also on experience with exporting. The ideal partner in Latin America is a medium-sized family-type company. These companies will support you with the greatest enthusiasm. Of course, ZK Lima can help you with knowledge of the local market according to the specifics of your company, but from the industry point of view, the decision is only up to you.
3. Approaching companies After selecting companies from the list and sending the catalogs in electronic form in Spanish, ZK Lima will start approaching companies. First of all, he prepares a cover letter with a description of your company and product and sends it to selected addresses. Subsequently, after some time has passed, he contacts companies by phone and ascertains interest in the product. However, this step is very difficult due to the current situation in the country, because at the moment no one answers the work phones very much – these are rather exceptions. Most companies currently either do not work at all, or only in a limited home office mode – fortunately, this does not apply to e-mail to a greater extent.
4. Preparation of materials The PaulSourcing foreign office in Lima recommends that a Czech company interested in exporting to the Peruvian market should take advantage of the current situation and focus on the preparation of appropriate materials in the Spanish language, such as catalogs, presentations, references, websites, etc. These are key things for any future success – then we recommend patience.

The Ten Commandments for Trading with Peru

1. Language Communicate in Spanish. Spanish will take your business relationships to a higher level than perfect English.
2. Promotional materials Have promotional materials ready in Spanish. To start, at least put one page in Spanish with information about you and your products or services.
3. Personal approach Personal approach and personal dealings. In Peru, business is based on personal sympathy, the product and business terms are decided only in the second phase.
4. Visage Clothes make a person. Your presentation is the business card of your company and work.
5. Criticism Do not criticize local conditions! If you don’t like something, say so diplomatically. If it doesn’t affect your business, don’t mention it at all.
6. Patience Take your time! Indeed, patience brings roses.
7. Cultural Awareness Learn about Peruvian history and culture, the locals will appreciate it.
8. Gifts Small gifts with a reference to your company or the Czech Republic help establish an emotional relationship with a business partner.
9. Problem Solving Problems are to be solved. Offer the counterpart a comprehensive solution to his situation, including alternatives.
10. PaulSourcing The official support of the PaulSourcing agency or the embassy will give you higher credit in Peru when dealing with a partner and especially with the state administration.