In the research I have conducted, I have found many benefits to setting up our factory in Barbados. The intentions of this report is to inform you that setting up a factory here will be rewarding for years to come. We have great amounts of landscape we can use as property for our future factory. Creating a factory here in Barbados will make us plenty of profit with little to no problems. However, one problem may or may not affect our business. It is not a gargantuan problem but it is still disturbing. Regardless of the situation, the good factors outweigh the bad.
One of the many good factors is the economic system. The economic system is a socialist democracy. This means that there are a few government regulations but that does not prohibit people from other countries to set up their own business in Barbados. Barbados is mostly dependent of the trade that happens between Barbados and countries like Nigeria, Russia, and the United States. If our company decides to start doing trades with other countries, we can send products to any country mentioned above. “The government maintains price controls on basic commodities such as rice and flour, transportation, and fuel.” (www.heritage.org), the reason this happens is that Barbados only gets most of their economic stability from the agriculture department. This allows us to have a limited amount of government regulation on a business. We can decide what to pay the workers and what flexibility we should have with their labor accomplishments due to the price control. We have a free business in our hands. The main power source in Barbados is The Barbados Power and Light Company Ltd. They produce enough energy for everyone living in the country. The “customers enjoy the convenience of ele...
... middle of paper ...
...re our workers a positive workforce (www.cia.gov).
Overall, our factory can benefit from many positive things. We can pay our employees at cheap rates and have a peaceful workforce. If we focus on what our business is about, we do not have to worry about the outside problems like trafficking. We can set up a business with reliable energy sources in a perfect country. We can be satisfied with the government regulations on a business and we can definitely make profit in Barbados than in other islands. This country is just like America except that we can make more benefits in Barbados. There is no second-guessing the country. It is a perfect place; the living standards are higher than in other islands. The workers are smart and dedicated. The government is very accepting of people wanting to start a business in the country. Barbados is simply the best option there is.
Despite the threat of malaria and fierce alligators, the economy thrives from the environment. South C...
• A more competitive, efficient and profitable business with less competition in the domestic markets.
...are tourism, bauxite, textiles, and food processing. Jamaica also produces a lot of agriculture, such as sugarcane, bananas, coffee, and citrus.
At this time, the growth of the slave-trade economy in Old Calabar paved the way for countless new houses base...
...ic growth, modest inflation, reduction in government debt and a manageable external position. However growth may slow down in 2004 with low growth in the US economy, the source of 87% of export revenues. There have been many negative Political developments such as corruption within the Dominican Republic however the current president Mejia is taking positive steps to eradicate this widespread corruption. The indicators of welfare in the Dominican Republic have improved significantly over recent years, however the economic developments have not sufficiently trickled down to the poorest segments of the population. In conclusion it is clear from the findings of the report that development is not completely stable within the Dominican Republic. It is relatively well developed compared to the other Caribbean countries however as we have seen, figures can be deceptive.
This means that there are good temperatures yearlong for harvesting crops. It also eliminates the worry of a trade as a farmer only having seasonal application as it would in other climates. Again, it is located near an ocean, which could lead to occupations such as a fisherman, or maybe even sailing a boat that could ship products, or take people on a tour. All it takes are people willing to teach the people of the Dominican Republic these trades.
In the current economic times the development and growth of any economy has come to a near stop or at least to a drastic slow down. The face of the global economic environment has changed and many new countries are starting to change the way their country and the rest of the world does business. One such nation is Brazil, who has turned around their own economic troubles and is becoming one of the fastest growing economies in the world (World Factbook). Brazil has started developing its economy and using the opportunity to achieve a level of respect in the world.
Conclusion: Brazil with the rest of the BRIC nations have a long way to go before their current economic development translates into benefits for the majority of the population. Fortunately, Brazil has great strengths. Thanks to its efficient and entrepreneurial farmers, it is the world’s third-biggest food exporter. Even if the government has made the process slower and costlier than it needed to be, Brazil will be a big oil exporter by 2020. It has several manufacturing jewels, and is developing a world-class research base in biotechnology, genetic sciences and deep-sea oil and gas technology. The consumer brands that have grown along with the country’s expanding middle class are ready to go abroad. Despite the recent protests, it does not have the social or ethnic divisions that blight other emerging economies, such as India or Turkey.
A way to measure a country’s economy is to look at its gross domestic products. This tells the total value of the goods and services that a country produces. In Jamaica, the economy has always been the main problem for the people. It is based primarily on agriculture, tourism, and bauxite mining. The country is very dependent upon tourism, its main source of foreign exchange. Bauxite mining is the principal source of revenue for the country. Most people do not have the opportunity to go to school and also there are not enough jobs for everybody. On the contrary, the United States is wealthiest in terms of economy. They have abundant natural resources, a well-developed infrastructure, and high productivity. Moreover, people have more chances of going to school, and there are more job opportunities for those who graduate as
Unfortunately for the tourism industry of the Caribbean, most of it is controlled by companies located in other countries. With most of the profits going to foreign-owned investments, it leaves the country without control over its very own economy. It is unfair to the Caribbean economy because it leaves the country in the same state it was in during its formal colonization. Even though colonization in the Caribbean is formally over, I believe, in essence it still exists there.
Brazil's economy has a lot of potential. Throughout Brazilian economic history, the government has had an economic policy based on import substitution and it was also trying to switch from agriculture to industry. To insentivate domestic industry, the government established protective tariffs and import quotas. Most of the enterprises were owned by State such as: steel, oil, infrastructure, and others. These firms also received subsidize "long-term credit expand." For these reasons it had been difficult to establish ventures in Brazil.
Tension between expatriate and the locals: mainly due to the cultural differences between them. Also the labour laws of BVI increase job protection to them, it is difficult to lay off an unqualified staff.
What makes economic growth so interesting is that it enables a country to do so much more than they are financially capable of to date, through economic growth a country can also help to lower the countries deficit. To date The Bahamas government have invested millions of dollars into the economy such as new roads and highways, schools, hospitals, hotels etc. If an economy makes an investment it is to improve and encourage growth within their economy. In my opinion economic growth is beneficial to any economy although there are a number of hurdles that must be crossed to really feel and see the economic growth. This research paper is to enable a better understanding of the economic growth and how The Bahamas has grown and investments that they have made to sustain the economies developments.
There are also barriers that limit the potential growth of industries. Such as the lack of adequate infrastructure, the roads and ports are lacking, congested roads with no parking available and electricity shortages. Foreign businesses need to have all this in mind when trying to invest in a country that seems to be very attractive.