Technology and tools for analyzing large volumes of information used by large corporations to make business decisions are also available to businessmen and small companies.
Finding the best location for a new sales point, finding the areas where potential customers move and analyzing their purchasing power and their behavior as consumers are just some of the things that can be done today with the help of new technologies.
Guatemala was the only country in the region that improved its position in the global ranking monitoring businessmen's conditions for doing business, while the others went backwards.
The World Bank released the results of the Doing Business 2020 report, which measures the regulations that favor or restrict the development of business activity in different countries.
As one of the measures that the Costa Rican government plans to implement is that it will no longer be necessary to have all the requirements to open a business certified, and only an affidavit will be necessary.
The government will implement a regulatory moratorium that will prevent the creation of new procedures, requirements or procedures to obtain permits, licenses or authorizations, which will apply until May 2022, according to an official source. This would be one of the guidelines that are part of the government's actions to lead the country to economic recovery.
Costa Rica and Panama are the economies of the region where businessmen find it easier to develop business, followed by El Salvador and Guatemala, and in the last two places, Honduras and Nicaragua.
The World Bank announced the results of the Doing Business 2019 report, which measures the regulations that favor or restrict the development of business activity in different countries. Doing Business consists of quantitative indicators on business regulations and the protection of private property rights, comparable in 190 economies.
With the amendments to the Commercial Code, it is now possible to register a limited company on the Mercantile Registry site and registration of individual merchants will soon be available.
The changes to the regulations becameeffective at the end of January, and among the most important modifications were the reduction of initial capital for the creation of a company, going down from Q5 thousand ($681) to Q200 ($28).
With the entry into force of the reform of the Guatemalan Commercial Code, from today a company can be incorporated with $28.
The modifications that already apply were published in the Diario de Centroamérica on October 31, 2017. Among the most important changes is the reduction of initial capital for the creation of a company, going down from Q5 thousand ($681) to Q200 ($28).
Find out in which country of the region it is easiest to obtain a construction permit, where the least taxes are paid, where a creditor is more likely to recover a debt, and where minority investors are most protected.
The World Bank has presented its Doing Business 2018 report, which measures regulations that favor or restrict business activities.Doing Business is made up of quantitative indicators measuring business regulations and the protection of private property rights that are comparable in 190 economies over time.
Salvadoran industrialists claim that with the presidential veto of the administrative simplification law, the country has lost a valuable opportunity to improve the already deteriorated business climate.
EDITORIAL
With the veto of the Administrative Simplification Act, the Salvadoran government is sending a clear message to the business community and to society in general: There is no interest in paving the way for the private sector to generate more jobs and, consequently, more wealth and socioeconomic development.
With the reform of the Commerce Code approved by Congress the process has been simplified and costs reduced for inscribing a corporation, among other changes.
Main changes in the new Commercial Code:
- A business may be incorporated with ($28) Q200.Each shareholder must pay, at least, 25 percent of the nominal value of each share subscribed.
In El Salvador, the private sector is putting pressure on President Sánchez Cerén to sanction the recently approved administrative simplification law, which promises to facilitate procedures for doing business.
Eliminating unnecessary procedures that represent operational costs for users, reducing administrative procedures and removing requirements not required by law are some of the benefits that companies could obtain if the new law is approved.
Knowing how to laugh at yourself is a virtue that every entrepreneur in Costa Rica should have, even though it might all end in tears.
This is what Alfonso Carro does in his article on Crhoy.com: laugh at himself, at the same time bringing to light the helplessness felt in light of the deteriorating conditions for investment in an economy such as Costa Rica, which was once number one in Central America.
Companies have to allocate up to 15% of expenses to security services, as a result of the growing violence in the country.
A company wishing to operate in Guatemala has to allocate between 8 to 15% of its expenses to security in order to keep operating. The figure was provided by Victor Guillen, manager of purchases, imports and exports at Dagas, and published by Elperiodico.com.gt, who revealed that his company earmarked Q250 thousand ($32,000) per month for the security of its plants, trucks and workers.
The average time for the region is 28 days and the average cost is 48% of GDP per capita, a far cry from OECD average time and costs which are 9 days and 3.4% of GDP per capita.
Using data from the Regional Economic Report 2015, an article on Prensa.com outlines that "... Of all the countries in Central America Panama is the place where starting a business requires the least paperwork, time and cost. "Setting up a company in Panama it takes six days, through five different procedures, with a cost equivalent to 6.4% of gross domestic product (GDP) per capita (about $764).
The country which used to stand out in the region because of its good relative level of economic, social and educational development, is accelerating its march downhill in terms of productive competitiveness, income distribution and training.
A World Bank study has evaluated regulations which exist in 22 cities in the region for starting new business, registration, construction, and border trade.
From a statement issued by the World Bank:
Doing Business in Central America and the Dominican Republic 2015 compares business regulations in 6 Central American countries (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama) and the Dominican Republic. In addition to the capitals, the study collects data related to 15 subnational locations regarding regulations that affect 3 stages in the life of a small to medium-size domestic firm: starting a business, dealing with construction permits and registering property. The study also analyzes the indicator of trading across borders, considering 7 main ports and 3 secondary ports. Moreover, it includes a gender perspective based on the study of laws and regulations that impose differential treatment for women.
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