-
Essay / How Laws Impact Business in Haiti - 1584
The law is not as essential as the air we breathe, the food we eat; therefore, it is very similar based on its importance. A society secures its natural well-being through peace and prosperity; which, in turn, is guaranteed by the strict application of laws. As a social being, individuals may find themselves facing specific problems that require particular conditions (regulations or rules) to enter into agreements, etc. Therefore, law influences every aspect of life. Laws sometimes serve us as guidelines, preventive measures and also conditions for dealing with people, resolving conflicts, disputes, etc. In business, laws are integrated into almost every process or procedure. Everything must be taken seriously; since there is always a law which defines its power, its criteria, etc. Due to the holistic implication of law in the business environment of any country in the world; Business law has become an important field of study. This is the reason why; This article aims to describe three ways in which laws exert their effects on businesses in a specific country – Haiti. Furthermore, it tends to describe the nature and sources of law; he will give the possible reasons for the law. It also plans to outline the positive and negative impacts of laws on businesses. And then he suggests ways to improve the law. The first way laws affect business in Haiti refers to starting the business; that is to say in the process of creating the company. To start a business in Haiti, Haitian law requires many steps; which has significant impacts on the country's business environment. These laws summarize the process of creating a business into twelve (12) procedures. These procedures last at least 105 days and cost approximately...... middle of paper ......e Haitian Constitution of 1987 and other regulations such as investment laws etc. Although the positive impacts of the laws are considerable; the negatives are also noticeable. Laws are seen as obstacles to the growth of the economy. This is killing the entrepreneurial spirit of the nation. The most effective suggestions would be to liberate the economy, eliminate (bad) laws that hinder the potential of the business environment. Works CitedCorporation., TW (2012). Doing business in a more transparent world. Washington, DC: International Bank for Reconstruction and Development. Foundation, T.H. (2012). Index of Economic Freedom 2012. Accessed April 18, 2012 from Heritage.com: http://www.heritage.org/index/country/haitiJentz, RL (2010). Fundamentals of business law: case summaries. Mason, OH: Southwest, Cengage Learning.