Attitudes towards business

“A predisposition or a tendency to respond positively or negatively towards a certain idea, object, person, or situation.” (businessdictionary.com)

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In The World Bank Ease of Doing Business Survey for 2016, Colombia was ranked at 54 out of 189 economies. The country scored highest for the ease of obtaining credit (2nd), protecting minority investors (14th), and resolving insolvency (30th), but fell short in enforcing contracts (180th) and paying taxes (136th).

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The business culture tends to be quite formal in the major cities like Bogotá and Medellín, with a more relaxed attitude in the hot coastal regions. It is always important to engage in small talk before focusing on business concerns, and Colombians also prefer doing business in person; face-to-face meetings are favoured over phone calls or emails.

Colombians are warm and expressive, emphasising the importance of family and friendship, and thus establishing personal relationships and building trust is crucial to a successful working environment. Family-owned companies, or family members working together, are quite common in Colombia for this reason.

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Colombians tend to have a positive attitude towards foreigners, and will always ask one’s opinion about Colombia and how it differs to what was expected. Colombians are eager to help their country escape its global reputation as a place of violence and drugs by welcoming foreigners and emphasising the best of Colombia.

 

Sources:

http://www.expatarrivals.com/colombia/doing-business-in-colombia

http://www.businessdictionary.com/definition/attitude.html

http://www.slideshare.net/LorenaJ1/framework-opportunities-for-trade-latam