Jamaica is the best country to start business in Caribbean and Latin America

21 August 2018 Consultancy.lat

The Jamaican economy has been ranked fifth overall in a global study of the regulations and requirements necessary to start a business. The study – conducted by Reboot Digital Agency using data from the World Bank Group – found that Jamaica’s start-up economy has also improved over the past year.

Jamaica has been named as one of the best countries in which to found a business according to the British SEO firm. Reboot Digital Agency’s recent study analyzed 119 countries and ranked them on a number of criteria including the number of procedures (i.e., licenses and permits), the time it takes, and the costs for a small-medium sized limited liability company to start up and formally operate in the country’s largest business city.

Jamaica came out in fifth place with a score of 97.3%, up 0.57 on the previous analysis. In the top spot this year was New Zealand with a near perfect score of 99.96, followed by Canada, Hong Kong, and Georgia. The rest of the top 10 was made up of Singapore, Australia, Ireland, South Korea, and Kosovo. 

Kingston has been dubbed the Caribbean’s leading tech and outsourcing hub, boasting a number of start-up initiatives and incubators. The Jamaican capital was recently named Nearshore City of the Year at the Nexus 2018 event held in San Francisco earlier this year. The award solidified Kingston’s status as the next king of outsourcing in the Caribbean. 

“Jamaica has been working at this for a long time, and we have one of the greatest BPO [sectors] in the world,” Claude Duncan, Vice President at JAMPRO Trade and Investments Jamaica said. “We are on a mission to let people know that Jamaica is more than tourism.”

Jamaica is the best country to start business in Caribbean and Latin America

The ranking drew on data accumulated in regards to the ease of which a business can be created, with regards to government red tape, costs, and procedures necessary. Business regulation is important because it can either discourage entrepreneurs to enter an country if too complex or promote a country “where the rules governing start-ups are accessible, transparent and predictable,” states the report.

“This, in turn, benefits the economy, boosts capital investment and job creation, and generates more choice for consumers. Proving the economic and political benefits of improved business regulation undeniable.” 

According to the World Bank Group’s Doing Business 2018 report, Jamaica has made “starting a business faster by reinstating next-day service for company incorporation.” The Caribbean nation has also made it easier for companies to trade across borders thanks to reducing compliance for importing and exporting by implementing a digital customs data management platform.

Shai Aharony, managing director of Reboot Digital Agency, comments: “[The data] hints we are heading toward a rich, multi-cultural time in business, which will no doubt encourage us to venture to areas anew, to start-up or network. Some may even argue it will become essential to do so. I’m sure we will see continued change in the sector as businesses reform and push beyond old boundaries.”

Related: Tudor Consultants to open BPO service center in Kingston, Jamaica

Top consulting firms in Brazil for restructuring and turnaround

23 January 2019 Consultancy.lat

A new analysis of surveys among clients on track record / engagement satisfaction and management consultants on reputation has identified Brazil’s top consulting firms for restructuring and turnaround services. 

Companies in Brazil facing financial and operational difficulties, including rapidly deteriorating commercial performance, liquidity concerns, loss of key management / clients or refinancing risk, can according to data sourced by Consultancy.lat best place their faith in ten consulting firms specialized in restructuring, turnaround and crisis management. These ten consultancies are: Alvarez & Marsal, FTI Consulting, G5 Evercore, Moelis & Co, Rothschild, KPMG, Laplace Financas, Pantalica Partners and RK Partners.

When companies fall in financial distress, executives need to move swiftly to stabilize the business, while working towards a more long term strategy for sustainable strategic, operational and financial change. Working alongside debtors, lenders, shareholders and other stakeholders, consultants support with solving short-term liquidity requirements and action-planning to quickly preserve value and address potential risks to stability.

With stabilization in place, broader restructuring plans are designed and executed, including activities that enable cost optimization, operational restructuring, improved cash and working capital management and asset / debt restructuring. In the case of (potential) bankruptcy, restructuring consultants work with shareholders, debtors, creditors, regulators and other insolvency stakeholders on executing the administration or bankruptcy process – the procedures differ per country.

Top consulting firms in Brazil for restructuring and turnaround

In Brazil, the bankruptcy law covers three main proceedings. The first proceeding (‘bankruptcy’) is the actual process of liquidating a company’s assets in order to pay off debts. This involves selling all property and goods to meet the debt’s requirements. The ‘court-ordered restructuring’ proceeding has been put into place to help the company restructure its debts while carrying on its day-to-day operations (only applicable for companies that have been in business for at least two years). The third bankruptcy proceeding, ‘extra-judicial restructuring’, involves a private negotiation between the debtor and the creditor. Restructuring and insolvency consultants typically team up with lawyers to mediate between the two parties – if however no consensus is reached, the judge takes over the process.

Top restructuring consulting firms

Brazil’s list of top consulting for restructuring and turnaround services includes three advisory players that operate globally. Alvarez & Marsal (A&M) is one of the most well-known names in the restructuring landscape, which it for a large part owes much for its key role on the Chapter 11 bankruptcy case of the collapsed banking giant Lehman Brothers. Globally, Alvarez & Marsal has over 3,000 professionals in 50+ offices, including a Latin American presence in Brazil (Rio de Janeiro) and Mexico (Mexico City). Rival FTI Consulting is with a headcount 4,700 employees worldwide larger than A&M. Both consultancies provide a range of management and economic consulting, financial advisory (corporate finance and restructuring) and technology advisory services.

KPMG is one of the Big Four accounting and consulting firms. Its Restructuring & Turnaround practice has over 1,200 professionals worldwide. The Brazilian team operates mainly from the firm’s national hubs in São Paulo, Rio de Janeiro, Recife, Brasília and Belo Horizonte.

Four of the industry’s top players are local Brazilian consultancies. G5 | Evercore is one of Brazil's largest independent financial advisory services firm, operating bases in São Paulo, Rio de Janeiro and Recife. Formerly known as Arion Capital, São Paulo-based Laplace Finanças provides a wide range of financial advisory services to private sector and private equity clients, including restructuring and turnaround. Pantalica Partners, also located in São Paulo, has completed more than 70 restructuring engagements in Brazil with a restructured debt value of over $25 billion since inception in 2014. RK Partners specialises exclusively on turnaround and crisis management offerings, and in recent years played a role in the turnaround of among others Bom Bril, Rossi, Bertin Energia and Property Brasil.

Completing the list of Brazil’s best consulting firms for restructuring and turnaround services are the advisory arms of three international investment banks. New York headquartered Moelis & Company was founded in 2007 and today employs over 750 employees in the Americas, Europe, the Middle East, Asia and Australasia. The company serves the Latin America region through its locales in São Paulo and Mexico City. Lazard and Rothschild rank among the globe’s most prestigious investment banks – they both provides financial advisory and asset management services to corporations, governments and non-profit institutions. Lazard was founded in 1848 in the US, while Rothschild – which is owned by the Rothschild family, one of the wealthiest families in modern world history – was established in 1838 and is currently headquartered in Paris, France.

Related: Consulting market of South America grows 4% to $2.6 billion.