Barriers to Brazilian Startups’ Global Expansion

Brazil has emerged as a key player in the global startup ecosystem, driving innovation and venture creation in Latin America. As internationalization becomes an essential strategy for business scalability, expanding beyond domestic markets has become a priority for Brazilian startups (BSs). However, multiple barriers hinder this process, slowing or even preventing their global expansion. This study significantly advances and updates the notably scarce body of knowledge on the internationalization barriers faced by Brazilian startups by offering a comprehensive, stakeholder-driven perspective. Using Leonidou’s (2004) framework as an analytical foundation, it systematically identifies and categorizes these barriers. Through in-depth interviews with 26 key stakeholders in the Brazilian startup ecosystem, 14 barriers were identified, with five particularly relevant: (i) “identifying foreign business opportunities,” (ii) “shortage of working capital,” (iii) “inadequate/untrained personnel,” (iv) “lack and/or inefficacy of home government assistance/incentives,” and (v) “different foreign customer habits/attitudes.” Recognizing these barriers is a crucial first step toward fostering solutions. Entrepreneurs can leverage the study’s findings and practical recommendations to gain a deeper understanding of these barriers, formulate strategic responses, and implement effective overcoming efforts.