As your daily, online companion to doing business, Entrepreneur.com.ph has been encouraging aspiring entrepreneurs to finally put up their business and helping startups and existing entrepreneurs to grow their business.
Going into business has always been considered as one of the more prudent ways to create wealth and boost financial security.
However, a major consideration in putting up a business is the economic climate. Another is the government\\\'s role in creating the ideal environment for a thriving business community.
But just how important are the cuntry\\\'s economy and government policies are for an aspiring entrepreneur? Do they have anything to do with running a small coffee shop or a food stall?
Albert Kong, chairman of the International Development Franchising and Licensing Association of Singapore, said macroeconomy and government policies play an important role in a small business\\\' operation. Kong and Winston Lim gave their list of five conditions that make a country ideal for entrepreneurship:
1. Less Red Tape
Red tape is a perennial problem in government, regardless of who is in power. However, the Department of Trade and Industry is taking steps to further streamline the numerous requirements and signatures needed to get a business permit.