Living in Peru : your everyday companion

Steve Jobs, founder of Apple, began his work in a garage. Erasmo Wong started his empire with 50 square meters. According to the Global Entrepreneurship Monitor, Peru has more entrepreneurial spirit than any other country.

All companies begin modestly. It is only when they begin to think big that they become global players.  To do this, the founder often has to overcome what I call the “51% syndrome.”

In many cases, a company’s retained earnings and its capacity to take on debt restrict its ability to finance expansion into new markets.

This is why it is often necessary to open the company to other investors/venture capital funds and/or float the company on the stock market to find the resources needed to grow on a global scale.

Family businesses are very prominent around the world. They range from small convenient stores to large conglomerate multinational companies like Walmart, or they are centuries old like Zildjian, which was founded in 1623. Peru is not absent of such a plethora. Most of the corner stores, or rather ‘bodegas’ in our neighborhoods around Lima are family run businesses. However, at the other extreme, the largest bank and largest insurance company in Peru are family owned businesses. In either case, family businesses provide well needed services to all levels of society and for all sectors of the economy. Family-owned businesses are vital for the health of an economy, especially here in Peru.

by
Iana Málaga Newton

The Ikeda family dominates sales of the Peruvian chicken and turkey markets

Talking with Alberto Ikeda, production manager of San Fernando, is like receiving a lecture about poultry; about the smallest of chicken having the most meat; about genetically selected hybrid species; about the fact that in restaurants only females are served as grilled chicken.

by
Omar Azañedo Sayán, deputy manager of the Trade Center, AmCham Peru

Although the external crisis and its consequences obscure the entry into force of the Peru - United States FTA, there is no doubt that the entry into force of this trade agreement brings us great opportunities to expand the range of our agro-exports and to seek new market niches for our products.

courtesy of
CONTACT, review from AmCham

The Peru - U.S. FTA generates a number of competitive advantages that must be taken advantage of. Despite the current economic situation (international financial crisis), it should not be forgotten that the U.S. is the largest importer of goods, followed by Germany, which imports a little more than half of what the United States imports; it is also the world’s third largest exporter after Germany and China.

article courtesy of "Contact"
review by AmCham Peru

In 2008, Peru exported US$1,912,690 million in the agro-industrial sector, an amount 23.3% higher than in 2007, in which this figure came to US$1,550,695 million. It should be noted that the United States is the main destination of our agro-industrial exports, accounting for 30.7% of the total (US$587,021 million); far below as a destination is Spain, with 12.2% of the total (US$233,608 million). In third place are the Netherlands with 10.2% (US$195,293 million). These countries account for 53.1% of the total, which is to say that three countries account for over half of our agro-industrial exports (see figure).

Info provided by the
American Chamber of Commerce of Peru (AmCham Peru)

Courtesy of

Eleven years ago, the Peruvian ranking of exports was obviously dominated by minerals and low added value products, nevertheless, since the preferences adjusted and we could access a variety of different markets, star products like asparagus and textile manufacturers became the top 50 and ever since, many non traditional products are following their footsteps.

Such is indeed the case of artichokes, that to this day represent one of the 5 basic non traditional products exported by our country after asparagus fresh and canned, as well as evaporated milk and paprika chili pepper.