Employment opportunities are scarce in Brazil because of the existing crisis being witnessed currently in the country as reported by Ricardo Guimarães, a Brazilian entrepreneur who serves as the President of Banco BMG. The labor market in the country does not offer adequate opportunities to many candidates who are less experienced, or where organizations are facing reduction in the rate of hiring employees. For these reason, a large number of people have decided they should work on their own, more so starting businesses. According to Ricardo Guimarães, more Brazilians have embraced entrepreneurship because of lack of opportunities.
Additionally, entrepreneurship seems to provide solutions to their problems. The President of BMG says that Global Entrepreneurship Index research 2016 revealed that Brazil has a promising future in entrepreneurship category, showing significant improvement as compared to past years. Ricardo Guimarães of BMG cites research as a way of proving the potential of entrepreneurial practice in developing Brazil. In his views, Ricardo Guimarães believes Brazil has positive outlook based on analysis and also in comparison to other Latin American nations. Brazil scooped three positions although 15 other countries are ahead of it like Chile, Columbia, Uruguay as well as Argentina. Ricardo Guimarães, President of Banco BMG, said Brazil is exposed to some shortcomings in comparison with other countries, like unwilling to expand and innovate within the entity.
Ricardo Guimarães of BMG noted the need of investing in projects as a way of contributing to the exposure of entrepreneurial skills and talents, because there is inadequacy of skilled labor in Brazil. The executive of Banco BMG also cited the potential of the country in developing new technology as another factor playing critical role to influence entrepreneurial profile. He further stressed that Brazil lacks notable competitiveness in relation to nations that are enjoying the same socio-economic level.
The executive of Banco BMG says that global services provided by small and medium entities in Brazil have not helped the situation at all. In fact, Brazilian entrepreneurs were ranked among the worst investors operating in foreign markets, as published in the Global Entrepreneurship Week, says Ricardo Guimarães. The executive cites the import culture developed in Brazil as the major reason for this because the exchange is in its favor, but he says things have changed hence the need to consider another approach away from the one which has been used for a long time.
In his conclusion, Ricardo Guimarães of BMG said that several barriers must be broken by those hoping to be Brazilian future entrepreneurs. Some obstacles he cited include lack of professional qualification, the government failing to invest and bureaucracy. Indeed, the government has to play its role of assisting entrepreneurs who wants to achieve big dreams in their career.