CALVINDOL
VIP Contributor
One of the most important sector of a country's economy that totally affect the growth and development of that particular economy is definitely the business sector. When an economy's or country's business sector is booming, such country is considered to be rich financially, on the other hand when an economy's or country's business sector is not booming, a whole lot of bad can definitely plague such economy or country. There are so many reasons why some countries have poor result in business, however some of these reasons and causes would be explained briefly below:
* No infrastructure: due to the lack of social amenities and infrastructure in a particular economy or country, the business welfare can totally be hindered in a lot of ways, in the sense that the transporting and movement of raw materials from where they are being excavated to where they are to be transformed into finished goods will definitely be cumbersome and burdensome, as a result of lack of infrastructure like good roads and motorable surroundings.
* No or less qualified personnel: countries with poor result in business have less or no qualified personnels, who are experienced and trained in all areas of business management and leadership. This is so because, there is no facility-fortified business institutions and commercial tertiary schools, ready and capable to teach or tutor business interested individuals down to qualification.
* Lack of government financial supports: many individuals want to establish businesses and enterprises of their own, however the problem of insufficient and inadequate capital are preventing them from doing this as they should. And the worst part is that the governments of some countries and economies do not support their citizens financially to establish businesses and to promote the development of the business sector. The building of business banks and financial institutions for business funding, could be a changing innovation.
* No infrastructure: due to the lack of social amenities and infrastructure in a particular economy or country, the business welfare can totally be hindered in a lot of ways, in the sense that the transporting and movement of raw materials from where they are being excavated to where they are to be transformed into finished goods will definitely be cumbersome and burdensome, as a result of lack of infrastructure like good roads and motorable surroundings.
* No or less qualified personnel: countries with poor result in business have less or no qualified personnels, who are experienced and trained in all areas of business management and leadership. This is so because, there is no facility-fortified business institutions and commercial tertiary schools, ready and capable to teach or tutor business interested individuals down to qualification.
* Lack of government financial supports: many individuals want to establish businesses and enterprises of their own, however the problem of insufficient and inadequate capital are preventing them from doing this as they should. And the worst part is that the governments of some countries and economies do not support their citizens financially to establish businesses and to promote the development of the business sector. The building of business banks and financial institutions for business funding, could be a changing innovation.