Legal business environment in the world and in Latvia.

Essay by Renatik_2003 January 2004

download word file, 11 pages 4.3



Worldwide situation4

Starting a Business4

Enforcing Contracts5

Closing a Business6

Situation on the Latvian Market8

Present Situation8

Business Development Policy10

Conclusions and Recommendations13




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 Latvia's 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...