Barbados and Business

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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.

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