Company bridges Maritimes with Latin America
Published Thursday June 25th, 2009
Ivan Barroeta says it's easier for clients to have faith in a company that operates openly and transparently, one that shows it's doing what it was hired for every step of the way - especially in areas as fickle as international trade and foreign market dealings.
He said his company, Buen Dia Software and Consulting, offers local firms that service in a simple way: by posting it on its online network so clients can watch the project unfold in real time.
"From the very beginning to the point they are trading, everything is online and they have access to our plan for them," said Barroeta, the company's director of projects.
"That way they can decide to change the approach. You don't have to wait one year to see what's going on with your investment; you can see in real time online, and you can work together with us developing those relationships to expand your business."
Barroeta, who hails from Venezuela, opened Buen Dia in Fredericton about a year ago at the National Research Council (NRC).
He wanted to help local companies easily, and confidently, trade in Latin America by offering them customized market analysis of which countries they would most likely find success in, and helping them bridge language barriers by translating commercial and technical documents.
Clients can access market research from Buen Dia's webpage, then offer feedback on its direction to ensure the service meets their needs. Marketing communications manager Sheila Davidson said this approach has a huge advantage over having local companies do it themselves.
"Traditionally, when dealing with international trade, you would take your time and money and resources to research an area to see if it's profitable or if it'll take you into bankruptcy to try and get into that market," she said.
"With our company, we do all of that for you. Instead of you hiring someone else to do it, and not knowing what they found until it's already too late to do anything about it, we're giving you the ability to monitor it and change it at any point in time."
She said a small IT town such as Fredericton was the ideal place for Buen Dia to begin offering that service.
"You really get the best of both worlds in Fredericton," Davidson said. "It's an IT hub. You have Knowledge Park and several companies that aren't necessarily very well known. It's a small town that's not so small it can't develop."
She said that potential for growth is something both Latin America and the Maritimes share, as both their governments funnel major stimulus dollars into infrastructure.
She said the mining, gas and wholesale markets in countries such as Peru can offer big opportunities to Maritime companies.
And despite turmoil in the region, she said countries such as Brazil and Panama make for sound investments with 4.5 and 5.7 per cent annual economic growth respectively.
"Given the economic crisis, many North American firms have been receding from South America or holding off until the climate stabilizes," said Scott Keenan, marketing research officer.
"These contracts are not only available, but in late April of this year, many infrastructure projects were brought to a forum in Houston, Texas, to be filled by American companies."
He said that included a US $5.2-billion Panama Canal expansion project, a $3.5-billion exploration project in the oil and gas sector, along with a $1.3-billion investment in wastewater treatment projects in Mexico, the Dominican Republic, Costa Rica and Brazil.
"Latin America, from the point of view of Maritime Canadians, is not the first place you're going to think to do business," Davidson said. "The typical reaction is to all the violence and mafia wars. But it's not that much different if not the same as the Maritimes, in terms of government stimulus that's trying to fight this economic crisis, and the opportunities that gives to businesses.
"Those contracts are sitting there, waiting for someone to take advantage of them. It's all open for business, and we want to be the bridge for Atlantic companies to reach it."
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