Discuss About Economic Growth Business Essay Example

one economic sector, such as the export sector and this can be deceptive.

2.2. State with low economic growing

The history of Haiti is alone. It is a state whose people were generated by the snatch and captivity of 100s of 1000s of Africans by Spain and France in the 17th and 18th centuries. Haiti 's people today are the posterities of these slaves. It is said that Haiti is a land of great wretchedness and poorness but it populated by people of astonishing strength and spirit, a spirit that inspires and amazes those who have experienced their unagitated nature.

Several native groups of the Caribbean occupied the island of Hispaniola for centuries prior to its find by Columbus in 1492. It is here, on the island that was subsequently to go the Dominican Republic and Haiti, which he foremost landed. The native population was shortly wholly eliminated through battle and the debut of European diseases and so came bondage.

Haiti was an island of fantastic rain woods and fertile fields necessitating 1000s of slaves to work the sugar cane and other farming industries. The woods were easy eliminated over the old ages by pounding, and therefore exposing the versants to irreversible eroding. Now, Haiti is environmentally devastated, its staying coppice woods are being consumed for cooking fuel.

Spain and France divided Hispaniola in the early 1700 's ; the western 1/3 became Haiti that is ruled by the Gallic. Enslavement of the Africans continued until history took a unusual bend ; the slaves revolted in 1804, making the first black democracy. Unfortunately for the Haitians, the United States still condoned bondage. Haitian freedom could non be recognized in which

they were isolated.

Northern and southern Haiti ab initio developed as 2 separate entities, ruled by almighty Haitian emperors. For the past 200 old ages, foreign commercial involvements have continued to command Haiti 's economic system, making a really little and dominant upper category. Haiti exists as a individual political entity today that experienced tonss of leaders and dictators in which each one replaced by putsch d'etat.

From 1915 through 1934, the United States really occupied Haiti in the involvements of commercial control, killing 1000s of Rebels in the procedure. Today, Haiti has no important wellness attention for its poorest. Food is mostly imported which are donated by the UN and other foreign philanthropic gifts.

For now, things are peaceable, but at least 75 % of Haiti 's people remain unemployed and go on to populate in the poorest state. Haiti is now considered to be one of the `` least developing '' of all the 3rd universe states.

2.3. Problems faced by the state

As we all know, the economic system growing of Haiti has been slow. Haiti is now known as one of the poorest and least developed state. They have struggled with jobs such as uninterrupted political confusion, wellness catastrophes, and environmental want.

To get down with, their jobs when it comes to political relations. Haitian political relations have been argumentative. They have experienced political force throughout the coevals. Haiti has suffered 32 putschs or overthrow. Haiti is the lone state in the Western Hemisphere that undergoes a successful slave revolution. Haiti 's largest slum is in Port-au-Prince in which the United Nation called `` the most unsafe topographic point on Earth. It is besides said that Haiti

is to a great extent corrupt. Every twelvemonth most of the charitable support is taken by functionaries. The political people are besides involved in assorted condemnable concerns. Since 1980 's, the leaders of the constabulary and military have cooperated with illegal drug trade. In the recent old ages, the powerful people were arrested such as Michel Francois, the Chief of National Police were accused of drug smuggling. Until now, most of the people who corrupt and do drug covering are non yet arrested.

Second, there job in the environment, Haiti was an island of fantastic rain woods but the forest was cut down which causes dirt eroding and implosion therapy. Last 2004, over 3,000 people were killed because of the inundation and at the same twelvemonth, a tropical storm killed 3,006 people. Haiti was once more pummeled by tropical storm last 2008. It produced heavy air currents and rain and due to the weak dirt, Haiti experienced monolithic implosion therapy in which it diminished their resources. Recently, a lay waste toing temblor with a magnitude of 7.0 magnitudes smitten and devastated Haiti. It is the state 's most terrible temblor in over 200 old ages. An estimated 316,000 people were killed by this temblor and edifices, places and concerns were destroyed. The Presidential Palace was severely damaged. The Haitian Parliament edifice and National Cathedral were besides destroyed. Equally many as one million Haitians were left homeless.

Last, there economic job, Haiti is the poorest state in America. Haiti is falling behind other low- income developing states. About 80 % of the population was populating in poorness. Haiti has 50 % illiteracy and most of the college graduates

immigrated to other state. Due to poverty, the kids in Haiti are forced to work as an unpaid family retainer. There is a high degree of unemployment and underemployment, and the attendant defeats have led many immature people to fall in packs, in which some appears to be involved to condemnable elements such as drug sellers.

2.4. Recommendation to the state

Some of the jobs that Haiti has encountered are evitable and some are ineluctable. The job in political relations which is the corruptness and the dealing of drugs are based on the people that are in power. We can non state that all the powerful people are perpetrating offenses. We merely have to believe who are worthy of the power and the people who wo n't mistreat it. As for the political leader, the people in Haiti choose you because they trust you so you must make what are the right thing and what will be the good thing for your people.

The job when it comes to the natural catastrophe is ineluctable. The harm has already done. We can merely avoid the figure loss of life. We must fix for the possible catastrophe that might happen. We must ever be watchful and listen to the intelligence so that we will cognize what will come. Erosion and implosion therapy can be prevented ; we can get down by seting trees and by non cutting the forest because this is one manner that can assist the people in Haiti. Other states gave assisting assistance by donating money to Haiti, you can get down by reconstructing houses and concerns.

Poverty is the most common job faced by about all the

state. If both the people in Haiti and the political leader aid each other, the economic growing of the state will be high. Therefore, the state will hold low poorness and less people who are unemployed.

3.0 Decision

`` No affair how rich or abundant a state 's natural, human or agricultural resources are, if the authorities or the individual running the state is non competent, honest and concern about its people 's public assistance, economic growing will be in a slow gait. '' It means that the economic growing of a state does non merely base on its natural resources or the merchandise that it produces but it besides depends on the relationship of the people and the authorities.

Economic Growth is of import, one ground is because it helps in cut downing poorness and reduces unemployment. Economic growing is indispensable to better authorities 's budget shortages. If economic growing additions, it improves public service like instruction and wellness attention that is of import for the people. Having a high economic growing benefits us in a manner that there is a higher income which enable consumers to bask more goods and services. The money can besides be spent on protecting the environment.

States with slow economic growing like Haiti, does non intend that they will hold slow economic growing in the hereafter. It can alter as the clip past, it is merely in our custodies and the custodies of the authorities to alter it and do the state a better topographic point to populate in.

1.0 Introduction

`` You have to believe anyhow, so why non believe large? `` A This statement is harmonizing to Donald Trump. Most of us

know who is Donald Trump ; he is one of the successful concern work forces in the universe. How did he go successful? It is by his finding, difficult work and as to what he said, he thinks large. We can besides be successful like Donald Trump. It is merely in our custodies on what way we will take.

In get downing a concern, we have to see a batch of things such as what will be the type of our concern. We have to see what we will bring forth, how we will bring forth it and for whom we will bring forth it. But now, the concern universe is broad. There are tonss of competition and merely one incorrect move ; it can destruct everything that you work so difficult for.

The concern universe is something that we risk and in which we can derive net income. There are different types of concern. Business is non merely about deriving net incomes but it is besides about the merchandise that the consumers need and the satisfaction of the consumers.

In this assignment, it will explicate what a private concern is and the assorted types of concern organisation bing in the private sector.

2.0 BODY

2.1. Private Business

The private concern are owned and operated by certain people. They are working for and they are trusting on the concern for their support. Their aim is to bring forth net income.

2.2. Types of private concerns

2.2.1. Exclusive Trader

Exclusive bargainers or Exclusive Owners or can besides be called as the `` one adult male show '' . They are the people who enter into a concern with the usage of his ain money as

a capital although the capital is low in which he as the proprietor has to do the determination entirely. It is considered as the simplest, oldest and most common type of concern. In puting up this concern, a less formal process is required. The concern personal businesss are kept confidential. Besides, he will be able to salvage clip on doing determinations for the concern. The net income is shared by oneself. The exclusive bargainer can function the costumier personally but he has to work for a long hours. Sometimes, his illness can take to concern troubles. There is besides limitless liability. The enlargement for the concern is besides limited and there is a deficiency of continuity. The providers can give high sum of merchandises.

2.2.2. Partnership

In a partnership, 2 to 20 people are working together with a common purpose. Spouses are people who contribute capital within the concern. Their purposes is to accomplish larger graduated table through increased capital, shared duty, cut down competition and shared experiences, accomplishments, expertness and thoughts. In come ining into a partnership concern, there is a Partnership Agreement and Partnership Act 1890. A Partnership Agreement must be made in order to settle any dissension in which its specify the partnership name, concern reference, continuance of partnership, nature of concern, capital part, responsibilities of spouses, proviso of wages, distribution of net incomes and losingss and the methods of deciding a struggle. In the Partnership Act 1890, it will be used when there is absence of Partnership Agreement or there is any aspect non specified in Partnership Agreement in which it specify the equal distribution of net incomes and losingss, involvement on capital

part is non allowed, there is equal rights for all spouses and no wages allowed that the histories must be kept on concern premises. There are two types of partnership ; these are the ordinary and limited partnership. In ordinary partnership, all spouses are ordinary who have unlimited liabilities in which limitless liabilities mean the spouse have to bear all losingss. There must be permissions from everyone in doing a determination and there is an equal right. In the limited partnership, everyone have limited liabilities but at least one ordinary spouse must hold unlimited liability. The ordinary spouse pull off the concern which means merely the ordinary spouse can take portion in the direction and the limited spouse can inspect the partnership 's fiscal records and give advice.

In a partnership concern there is more capital, hazard are shared by more than one individual, strengths are shared such as experiences, accomplishments, expertness and thoughts, less revenue enhancement load and the concern is kept confidential. The net income shared in partnership is called net income and loss. But the job in partnership is that there is an limitless liability. The clip is wasted in doing a determination ; the figure of spouses is limited within 20 people. There might be dissensions between spouses and the decease of one spouse may do disintegration of concern. Some of the grounds for disintegration of partnership is when one spouse dies, insolvent, unsound head which can be physically or mentally, the purpose is achieved, the continuance of partnership terminals and new Torahs are made.

2.2.3 Limited Companies

A limited company can either be limitless or limited liabilities. The limitless liabilities means that the

individual or spouses have to bear all losingss that both his concern assets and personal assets would be acquired by the creditors while the limited liabilities means that the concern spouses or stockholders ' liability is limited to the sum contributed as capital. Merely his concern assets and the sum contributed can be acquired by the creditors. It can either be limited by portion or limited by warrant. The limited company is established under the Regulation of Companies Act ( 1948 - 1989 ) . The capital parts are in the signifier of portions and the people who contribute capitals are known as stockholders, they are the proprietors of the company and they have limited liability. The ownership and direction of the company is separated. The company is managed by board of managers ; they are the individual who was elected by the stockholders. The board of managers is headed by a president who is titular caput of the company. The board of managers is responsible for the control of the managers ' meetings and they are the one stand foring the company 's involvements in external personal businesss. The pull offing manager is responsible for implementing board policy and the day-to-day running of the house. The net incomes addition will be distributed in the signifier of dividends. The two types of limited companies are the private limited and public limited companies.

2.2.3.1 Private Limited Business

In the private limited, there are 2 to 50 stockholders in which the shared are usually owned by little group of people that are normally household members. The portions are non traded in the stock exchange and the transportation or disposal

agreement of portions needs the consent understanding of all other stockholders. All the stockholders have limited liability. The company history must be audited and made populace which means the people will cognize whether your company is doing net income or non. The advantages of holding a private limited company are that it can be set up easy ; there is a larger sum of capital. There is an confidence of continuity which the pull offing manager manages the concern. Larger graduated table concern brings economic systems of graduated table. There is limited liability. But there are besides jobs that you can meet in private limited such as heavy revenue enhancement load. The revenue enhancement that you have to pay is your single income revenue enhancement and corporation revenue enhancement. The capital accumulated is less than public limited companies. In portions reassigning or disposing off, you need permission to other stockholders. The audited history must be sent to the Register of Companies.

2.2.3.2 Public Limited Business

The populace limited company has at least 2 stockholders. Unlike the private limited, the portions are traded in stocks exchange. Permission is non necessary in reassigning or disposing of portions which mean you can sell and purchase portions anytime. The history must be audited and made populace. The benefit of public limited concern is there is a greater sum of capital. The economic system of graduated table is achieved. There is limited liability. The continuity is assured because the stockholders and company are different entities. The failing of public limited concern is the complexness set up processs and direction. The audited history must be published. There is a higher revenue enhancement load.

The board of managers might mistreat or misapply the power because they are the 1 who is pull offing the company. And there is a hazard of coup d'etat by other companies.

2.2.4. Franchising

Franchising is 'ready brand ' concern which means that the concern already exists. In franchising, two people are involved that is the franchisor and franchisee. The possible proprietor or franchisee wages to utilize the name, merchandises, and services of the franchisor who receives a ball amount and a portion of net incomes of the concern.

The franchisor is the individual giving the grant which provides a well-known trade name together with proficient and administrative preparation. The advantage of being a franchisor is that you can spread out your concern without capital investing. There are benefits from the parts to operating expenses and runing costs from the franchisee. The franchisee may be contracted to buy certain goods from the franchisor. But there is besides some jobs being a franchisor, it will be hard to command franchisees. The image might be influenced which means the repute of the whole company might be ruined because of one franchisee.

The franchisee is the individual to whom the grants is given which undertakes in return to sell merely the franchisor 's merchandises and conform to specified criterions. The benefit of being the franchisee is the merchandise is a proved merchandise which means the consumers already know this merchandise. There are preparations in all facets of the concern, aid and advice with administrative affairs. Your concern will be a portion of a well-known group. The job is that, the franchisee may experience that the restraints place upon them such as what

they can sell, their hours of work, pricing policy and layout of the store which means that there might be disagreement between the franchisor and franchisee about the what the contracts says.

3.0 Decision

`` Whenever you see a successful concern, person one time made a brave determination '' by Peter F. Drucker. In every concern, we have to do certain determinations. We do non cognize whether this determination will be good or bad for our concern but we have to seek. We may neglect but failure is portion of our life. No 1 succeeded that ne'er fails. It is merely in our custodies whether we will go on or we will give up. You will meet many jobs in the concern universe but these jobs should n't halt us. We will be able to win by our difficult work and finding. Different types of concern agencies different features but they are alone in their ain manner. Businesss had taken hazard to last in this competitory market, to accomplish economic systems of graduated table and to derive net incomes. Although exclusive bargainer has the least capableness in lasting in the concern universe due to the little capital of the concern but it inclines to be on top. Partnership may hold troubles or statements in covering with determinations but because of the experiences, accomplishments, thoughts shared by the spouses, they will be able to work out whatever job that they might meet. Limited company which can either be private or public limited, it is of import in the industry because it can bring forth universe production that the people get benefit for. Lastly, franchising, it is a celebrated

concern because the merchandise are proven to the consumers. These are the type of concern that people would usually hold. In the universe of concern, we have to retrieve that failure does non intend that have to give up easy ; it is merely one of the things that will assist us to win.