Open a business requires a prior investigation process in which you learn about the procedures that the government of your specific city requires for each type of business, licenses, permits, times, working conditions, tax requirements, registration costs, etc. Everything is essential to start your project on the right foot.
However, it is no secret to anyone that conditions for entrepreneurs they can vary from one country to another, making the routes to achieve the desired success more or less favorable. Here is a summary of a very interesting analysis carried out by Latin Business Chronicle in which the factors that differentiate some countries from others in terms of their climate to undertake and that we should definitely know.
The report analyzes and summarizes at least 9 determining indices for invest in a business in Latin America:
Education Index
It has to do with the levels of schooling, quality of education and levels of illiteracy in each city.
Entrepreneurs Index
It specifically measures the factors that directly influence the setting up of a company such as: amount of procedures and paperwork to start a business, number of days that this procedure entails, registration and registration costs, ease of accessing credits and availability of venture capital .
Globalization Index
It has to do with the ease of importing and exporting as well as the tourism issue and in general with the conditions that facilitate business interaction with other countries in the world.
Infrastructure Index
In this index, 4 fundamental elements are considered for the development of any undertaking: availability of water, electricity, transport and technology, which have to do with: quality of roads, telecommunications, sea and air ports, customs efficiency, etc.
Labor Index
This directly reflects everything related to government policies for minimum wages, regulations on compensation, layoffs, work hours, wage setting, vacations, etc. As well as the platform for the management of employer-employee labor relations, unions as well as occupational health and safety.
Safety Index
Specifically, it has to do with the issue of public safety and how each government is dealing with crime to ensure an adequate business climate for the entrepreneur.
Tax Index
It is basically a measurement of government policies in relation to tax rates, times required to comply with payments and ease of declaring and making them.
Technology Index
A measure of great importance that has to do among many other things with the number of personal computers, mobile telephony, Internet penetration and training in the use of computer technologies.
Tourism Index
This measures a very important factor such as the number of tourists who visit a given country and how this number directly affects the economy through the income of foreign currency.
* The index was prepared based on data provided by the World Bank, UNESCO and the World Economic Fund.
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