Business & Finance

Haiti's history has seen more or less constant upheaval from 1804, up to the recent past. Survivor of 32 coup d'etats, provisional governments, and natural disasters, the most recent set-back was the 2010 earthquake. Port-au-Prince, still a mass of rubble, has 350,000 Haitians living in tent cities today.

The Government of Haiti (GOH) is working non-stop to attract foreign investment and get its economy restored. Many development banks, non-government organizations, and investment initiatives are funding projects to rebuild Haiti. One of the richest investment resources is the Haitian Diaspora. Made up of law, education, medical, science, and information technology fields, it is a bounty of resources Haiti needs to fully recover from its destruction.

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Your appearance is always important when it comes to business. Keep in mind that the way you dress can affect people's impression on you. This is why knowing the proper way to dress at work is essential if you want to project a certain professional image.

Many Haitians deal with businessmen around the globe and it is important to earn their respect. In order to do so, dressing properly and behaving like a professional can actually further your career in the country.

People working in the rural areas in Haiti tend to dress more casually than those in the urban parts. The dress code for both areas might be slightly different but one common thing is that shorts are not allowed in the business world. It is best for men to wear a pair of slacks, a shirt and a tie. Women, on the other hand, can go for a blazer and pants suits or skirt.

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Communicating with different kinds of people, especially in the business world, requires excellent interpersonal skills. Many Haitian professionals make use of eye contact to convey their sincerity and interest in doing business with other parties. Though lower-class Haitians tend to avoid direct eye contact with people they see as superior to them, professionals value this form of communication.

Through eye contact, one can earn the respect of the other party. It also helps a businessman become more persuasive and convincing. A businessman who makes eye contact with his client suggests that he is serious, interested and focused on their discussion. This is important when doing business.

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Men and women hold certain jobs in Haiti. This is because there are jobs wherein women are not allowed in and there are jobs that are solely for them. For instance, men dominate the labor and business market. They are allowed to work as laborers, mechanics, construction workers, and chauffeurs. Even if women are starting to achieve higher class professions, it is still men who often get jobs in schools, politics and medicine. Most school directors, pastors, and spiritual and herbal healers are also men. They are also responsible for livestock and garden care at households.

Women, on the other hand, are more associated with domestic tasks, including cooking and washing clothes. They also kind of dominate the health care sector, where almost all nurses are female. Women are also relied on when it comes to marketing and entrepreneurship. They are active in the fish, green produce and tobacco business industries.

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How would you communicate with Haitian business people? How do you engage them in talks? And how can you break the ice during business meetings? These might be the questions circling your mind when you are about to go on a meeting with Haitian professionals.

First and foremost, greeting business associates during a meeting is necessary as it is a sign of respect. Haitians shake each other's hands to greet one another during a business meeting. This way, you can acknowledge each other. It is also advisable to give out your business card prior to the start of the discussion.

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Haitians do not follow the "clock time," meaning that being late is not that uncommon among them. As a matter of fact, being late in a business meeting isn't considered rude at all. What they see as rude is if you arrive too early. This is because Haitians follow the Caribbean time. They do not say "9am sharp." Rather, they say "around 9am." However, Haitians can still be punctual as long as they were ordered to come exactly at the given time. But in regular cases, being late is not a big deal.

The same goes with business meetings. However, if you will be late for several hours or if you will be unable to come to the scheduled meeting, you have to notify the company or the person you are meeting with. It is proper to make a call and reschedule the meeting than to not show up without any notice.

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Haiti professionals are used to scheduling a meeting ahead of time. Not only this is part of business etiquette, it also allows both sides to prepare for the said meeting. When scheduling a meeting, it is important that you know the business hours in Haiti. Usually, it is best to set the meeting within the businesses hours of 8am and 4pm.

Being punctual is important so that you won't waste the time of the other party by waiting for you. Breaking the ice during the meeting can be done by engaging in small talks. It is common for business professionals to talk about their families first before discussing the matter at hand. Avoid touching on political subjects during first meetings unless you have already established a strong relationship with the other person. This is because politics is a sensitive topic in the country.

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Since the 2010 earthquake that killed thousands of people and destroyed infrastructure in Haiti, entrepreneurs have been having a tough time doing business in the Caribbean nation. However, it does not mean that putting up a business in the country is not a wise decision. There are key sectors that provide good opportunities for businessmen. Among these are the garment, agribusiness and tourism sectors. Opening a business in these industries can lead to success.

Analysts believe that Haiti's gross domestic product can grow in the coming years and this is good for businessmen. Also, there are ways on how to do business in Haiti easier. One can work with non-government organizations so as to combine business and social goals. The good thing about this is that NGOs are knowledgeable about Haiti when it comes to its markets, society, and people.

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The gross domestic product (GDP) is a measurement of how healthy the economy is. The GDP is made up of income and spending totals. The rate is calculated either annually or quarterly, as compared to the previous year or quarter. For instance, if the quarterly GDP is up 1.5%, this means a 1.5% growth in the economy over the last quarter.

The GDP formula is too complex to explain, but it can be simplified for discussion's sake. Calculation occurs by one of two methods. The income model totals annual workers' wages, or the spending model totals annual consumer spending. When both models' totals are compared, they should approximate the same figure.

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Haiti's economy has tumbled, especially after the devastating earthquake in 2010. A lot of infrastructure was damaged, sending Haitians deeper into poverty. However, the country continues to take initiative to improve its economy and business market. As a matter of fact, it remains a free market economy that makes use of low labor costs and tariff-free exports to the United States market.

The country is working to attract more investors so as to prop up its economy. There are top sectors and businesses in the country that provide good investment opportunities. One of these is the garment sector. Haiti showed a significant growth in its exports in the first quarter of 2009. It recorded a rise of 16.1%, much higher than China's growth of 0.3%. Currently, Haiti is considered as the fastest growing exporter of garments to the United States. It has a wide range of clients, including Levi's, Walmart, and JCPenny. Also, half of its garment manufacturers are expected to boost their work force and expand their factories in the coming year.

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