Have you heard of the term “due diligence?” It’s the investigation of care that a reasonable business (or person) is normally expected to take before entering into an agreement or contract with another party. Typically, due diligence concerns making an informed decision thanks to quality information found out, including costs, benefits and risks.
Do Your Due Diligence Before Doing Business in Latin America,
If you plan to do business in Latin America (including Mexico), due diligence is crucial. The region is known for bribery and corruption. That said, there are more “whistleblowers” lately, who are trying to expose corrupt officials involved in things like tax evasion. Are the whistleblowers taken seriously? Yes and no. The culture of Latin America is not easy to change, and corruption is actually deeply entrenched in the region.
Have some regulatory changes been made by certain countries to help decrease corruption in Latin America? Yes. That said, it’s important that you do due diligence before signing any contracts with a business in Latin America. You want to make sure your deal is financially viable.
Discover Who You’re Doing Business With
Ideally, you want to discover more information about a company’s operations– who have they done business with in the past? Did they conduct business legally or illegally? Would joining forces with a certain company be a good thing for you or not?
Latin America Due Diligence Consultants
It’s not easy to find out information about some Latin American companies; SMG Consulting of Pembroke Pines, Florida, can help you with risk management and investigative solutions. When you work with SMG, you get a clearer picture of both dangers and opportunities in your industry thanks to first-hand knowledge of the countries and communities you’re interested in.
Be proactive and hire SMG Consulting for due diligence purposes. After all, each year employees are caught having embellished or fabricated qualifications and experience– you want to know that what they’re telling you is the truth– or not!
For more info, please email SMG Consulting at info@smgconsultingservices.com.
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