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How to create a favourable business environment
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[QUOTE="Holicent, post: 267155, member: 76163"] A business environment is a collection of key factors that create opportunities for businesses to thrive. These factors include regulations, policy and legislation, infrastructure, the supply chain and market forces. Creating a favourable business environment can help you to grow your business by increasing your competitiveness. You need to make sure that you are operating within the laws of the country where you are based, as well as complying with any local regulations. Achieving a favourable business environment requires more than just creating policies and regulations. It also requires a willingness to make compromises, and a willingness to listen. When it comes to foreign investment, investors want to know that local companies will be able to compete against the global giants. They want to feel comfortable with their investments in the country, so they invest more. That creates even more jobs, which means that there are more people who need things like healthcare and education services — services that have become essential parts of the economy. There’s a virtuous cycle here: A positive business climate means more investment, which leads to an increase in exports, which leads to higher wages and salaries paid by local companies and their employees who are able to compete on a level playing field with foreign competitors. It’s important for governments to understand this dynamic so they can make informed decisions about policies that will help create favourable business environments for both foreign investors and locals alike. [/QUOTE]
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