Legal Business Environment in the World and in Latvia
Conclusions and Recommendations
The aim of the present paper was to analyse the importance of legal business environment of the market where the company is operating. The special litterature was studied in order to get familiar with the topic. Appropriate statistics were found and analysed. The data acquired was that on the overall situation in the world and specifically in Latvia. The indicators for different countries were compared and general tendencies traced.
The study done provides for the following conclusions:
1.Regulation in less-developed countries is more cumbersome in all aspects of business activity.
2.Business regulation pattern is closely related to the legal origin of the country.
3.Excessive regulation has a perverse effect on the people it is meant to protect.
4.Latvian SME sector is not yet highly developped.However, its growth is considered to be quite rapid, which makes the market attractive for investors.
5.The Latvian government is working and will continue to work with the institutions of the EU in order to improve the business environment and to remove certain regulatory and administrative barriers from SMEs.
Taking into account all the information and conclusions provided, the following recommendations were generated:
1.When choosing a country for the business establishment, a foreign investor should conside Latvia because of its great potential for growth in the sphere of small business and the fact that it is comparingly easy to start a business in this country.
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