Retail Business In Colombia Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Abstract:
Colombia is located in Northern America which has a total size of 1,141,748 km2. The country shares a border with Panama which is on the northwest, with Venezuela and Brazil on the east and Peru on the south. The total population living in the country are around 49,364,592 which makes it the third most populous country in the world and the main language spoken in Colombia is Spanish. The majority of the population consist of Mestizo and Whites which are around 86% followed by blacks which are around 10.6%. The religion of Colombia is Roman Catholic which is around 79%.Colombia was ranked 53rd in the World Bank for starting a retail business in the country. There are both opportunities and challenges for starting a retail business in Colombia.
Opportunities
There are several factors which makes Colombia an attractive location for starting a retail business. The first favour is that there are only a few procedures for starting a business in Colombia as the business is first required to register by the registry of commerce, obtain a bank account in the country, authorization for invoices, register the employees for public health and severance fund. The trading regulation of the Columbia also creates an opportunity for starting abusiness as it occupies a strategic and strong trading point location for exporting goods as it has many ports build near the ocean and many routes connecting worldwide(The World Bank, n.d.).

Retail Business In Colombia Harvard Case Solution & Analysis
The most products which are exported from Colombia are Coffee and spices. The total time period required for clearing goods for exports by the customs authority is around 36.0 hours which is considered a low time period for conducting exports. There are total 11 trading documents required for exporting the good in which some of the common documents are the following:
• Commercial invoice
• Bill of Lading
• Exporting license
• Certificate of Origin
• Packing List
• And few others
A recent agreement has been approved between the U.S and Colombia by the name of U.S-Colombia Trade Promotion Agreement in which there were several trade barriers removed for U.S good entering the Colombia Market. The reason for the agreement is due to the Colombia exporting bulk quantity of grain to U.S while some countries of U.S exports many production materials in Colombia. The agreement has caused Colombia to gain duty-free from importing goods of construction equipment, aircraft parts, fertilizers and among various other sectors. The agreement has several other benefits which are providing opportunities for the Agriculture sector, increasing textile access, small business exporters and importers and reducing the cost of the materials(United States Trade Representative, n.d.).
The culture of Colombia also plays a positive impact on starting a retail business in the country. First, it is important for understanding the culture of Colombia for starting a business as in some cities such as Bogota and Medellin the culture is formal as people prefer to do business through face to face rather than doing on phone calls or on emails.......

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