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On January 1, 2027, PIS and Cofins cease to exist and the CBS takes effect at its full rate. For Norvia, the reform is a test of organization: those with planned data, processes and cash flow get through the transition with adjustments, not surprises.

The Ibovespa rose 7.7% in a day and the dollar fell to R$5.00, but short term fundamentals did not change. For Norvia, the market priced a scenario, and decisions made on the day’s headline tend to be expensive.

According to Sebrae, 52% of Brazilian small businesses used AI in the survey period, versus 21% in the United States. For Norvia, using AI is the easy part: the advantage appears when the process changes, which 46% of Brazilian businesses had to do.

Green figure 9.2m on a black background, with the headline “companies in default in Brazil” and a subtitle on credit becoming a cash tool, with Norvia’s circular brand graphic.

Brazil currently holds a combination of economic fundamentals that is rare by recent standards. For Norvia, only one piece is missing, the trajectory of public debt, to unlock a structurally lower interest rate cycle, regardless of who wins the election.

Entrepreneurs often point to a lack of capital as the main obstacle to growth, but the more common bottleneck is the lack of structure to receive that capital. For Norvia, structure comes before the check.

Only 7% of Brazilian family businesses make it to the fourth generation, and the most cited cause isn’t a lack of capital, it’s a lack of governance. For Norvia, the right time to structure succession is always before it feels necessary.

Congress approved Redata in record time, with an estimated R$5.2 billion tax break to attract AI data centers to the country. For Norvia, the real opportunity for entrepreneurs lies in the supply chain around that investment, not in competing directly with big tech.

Brazil’s GDP grew just 0.5% in the second quarter, less than half the prior gain, as households felt the weight of high interest rates. For Norvia, this kind of slowdown separates those who built cash discipline from those who were simply counting on the rate cutting cycle.

Large corporations are cutting thousands of positions citing artificial intelligence, while small and mid-sized companies are moving the opposite way and still intend to hire. The 2026 data points to a more nuanced reorganization than the headlines suggest.

Gold went from a historic record in January to a drop of more than 25% by June. The 2026 cycle shows the metal hedges well against some risks and poorly against others, which changes how a position should be sized in a portfolio.

After the agreement with the European Union, Mercosur is now negotiating with Canada, with 60% of the text already concluded. Each new deal reduces relative dependence on any single trading partner, including the United States.