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CONTENTS Introduction3 Worldwide situation4 Starting a Business4 Enforcing Contracts5 Closing a Business6 Situation on the Latvian Market8 Present Situation8 Business Development Policy10 Conclusions and Recommendations13 Bibliography15 Annex16 Introduction The present paper is aimed at analysing the importance of legal business environment when starting-up a business especially a small or a medium-sized entreprise thus limited liability company The analysis consists of two integral parts the theoretical basic information and the real-life examples of countries around the world in terms of business regulation The business environment in Latvia is described in comparison to other countries Moreover the paper provides the information on how the situation has been changing over the past years and how it might and will change after Latvias accession to the EU Certain statistical data is included in order to make the information more explicit The paper is prepared for general public However it will be especially useful for those who are planning on starting a business in Latvia Moreover it concerns local entrepreneurs as well as foreign investors who intend to enter the Latvian market Finally governmental institutions may be interested in the analysis of the situation in Latvia After the current situation is analysed appropriate conclusions are drawn and adequate recommendations are provided In the course of preparation of the paper certain official representatives where interviewed and official reports from the Ministry of Economics the Ministry of Finance and the World Bank were studied as well as numerous recent press publications were used as information sources for the present report Worldwide Situation Starting a Business When Starting a business there are certain procedures which are oficially required by the state in order for the entrepreneur to operate in the market legally They include obtaining necessary permits and licenses - and completing the required inscriptions verifications and notifications - to start operation The indicators which are the most important when comparing regulatory environment across the world are the following
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