Violence stands as a major challenge for businesses, society, and governments at large in Latin America. To get a better understanding of the impact of violence for economic activity, along with the role of the private sector in conflict-ridden environments, this chapter examines the cases of Colombia and Mexico. These are countries that exhibit high levels of violence generated by a complex set of non-state armed actors. Based on a comparative analysis, the chapter discusses the challenges that the private sector in each country has faced, as well as the strategies firms have developed to survive and grow amid a context dominated by insecurity. As such, this chapter contributes to a growing academic literature focused on the implications of violence for business and economic activity.