Business Tips - Haiti Observer Blog

Miami Bayside Foundation presents Small business training at no charge. Sharpen your entrepreneurial skills while learning how to prepare to acess capitals. Attend a minimum of 8 out of 10 classes to receive a Certificate of Completion.

Session 1: Understanding your business

Session 2: Establishing your Business

Session 3: Developing your Business Plan

Session 4: Understanding Financial Statements

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Houssa phenomenon is popular among Haiti businesses. This phenomenon is believed to have occurred when businesses suddenly and mysteriously lose money. There are many instances and stories told about certain Houssa people coming in to a store and buying something. They will pay in cash and get change from the seller. However, once they are gone, the seller would notice that they lost money and that their earnings do not add up. Many businesses experiencing losses blame it on the Houssa phenomenon.

However, is it really the main cause of losses? There are others questioning the truth behind the Houssa phenomenon, citing other possible reasons why businesses might have lost their sales. Mismanagement of the business is one reason. There are businessmen who fail to record all the transactions that happened in the day. Instead of recording it on paper, they try to keep the transactions in their memories, which they can forget at the end of the day.

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Doing a business in Haiti involves a set of laws and regulations. Starting a business is not something that can be done instantly as it requires permits, planning and processes. However, because Haiti wants to make opening a business in the country easier and more efficient, the authorities have made some changes in the country's regulatory system. This way, businessmen might fast-track the opening of a business while making sure that all regulations are followed.

One of the changes involves the publication of Articles of Incorporation (AOI). Currently, such publication can be done two months earlier than usual because the office of the prime minister or the president no longer has to vet the AOI. A new law, on the other hand, has been implemented to improve the application for credit in the country. The new law enables businesses to use a wider variety of assets for collateral.

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The Second hand Clothe market in Haiti is where people can buy second-hand yet branded clothes from the United States at a cheaper price. Also called Pepe, many Haitians prefer use clothes because not only it is more affordable but also it is stylish, modern and has a high quality. Though the demand for pepe products is high, not everyone is happy with it. There are businessmen seeking to ban the import of second-hand clothes from the United States, saying that the trade is hurting other industries and making Haiti a "trash can."

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Business incorporation in Haiti comes in different types. It has categories and each one has its own standards and regulations to follow. Each company starting a business in the country must register its operation and determine which type of business incorporation it will undertake. To know more about it, here are the types of business incorporation in the country.

Limited Liability Corporation in Haiti involves three shareholder partners and board members. However, at least one of the board members must be a Haitian citizen to make it an eligible business. When it comes to obligations, each partner has a role to play depending on its contributions. Branch of a Foreign Public Limited Company, on the other hand, is a type of business incorporation that must be registered at Haiti's Book of Commerce. It should also be filed at other government business agencies involving the fiscal and social sectors.

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With a new approach to new businesses, the Haitian government hopes that doing business in the country will be easier and more efficient. The government has been taking steps in adjusting the country's business system with a new proactive approach. It aims to help smooth out the process of starting a business in Haiti, as well as attract more investors to boost the economy. Unnecessary bureaucratic requirements that prolong the process of doing a business will also be scrapped with the new approach.

This approach applies to industrial and commercial companies that employ a maximum of 50 workers. The companies that have a capital that is 10 times Haiti's per-capita gross national income are the ones covered in this approach.

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The location of your business can make or break its entire operation. Many Haitian businesses close down because it is in the wrong location.

Have you ever seen a Haitian business open, whether in the Diaspora or Haiti in a beautiful location and doesn't last three Months? Many time, the investor did not do an analysis of the environment as to who comes her, for what purpose.

In order to help you out, here are some tips about Business location you may want to keep in mind before opening your next business to serve the Haitian public.

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Starting a business is never easy as it requires time, effort, and expertise. As it is the case with many other communities, many start-up Haitian businesses fail even before they reach the first-year mark. Those that managed to operate for more than a year, on the other hand, find it a real challenge to get past the five-year mark. More often than not, most Haitian businesses fail within five years, except for those being kept on life support.

This is my advise to my Haitian friends, if you are planning to open a business, you should know the reasons why entrepreneurs fail in order to avoid the same mistakes. One of the common reasons is the lack of proper planning. Before setting up a business, it is necessary to come up with a plan involving all aspects such as finances, management, location, services and possible problems and solutions.

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A month commonly chosen for closing out a business is January and if you are keen on making purchases then a few tips for going out of business sales will need to be considered. If the tips are followed then a good amount of money can saved. The first and foremost thing to do is start shopping early. When the discounts offered are huge, the sales are higher.

A lot of items get sold out and the items that are left behind will not be of very good quality. It is on the floor samples that the best deals are offered. You will need to check if it is worth the bargain basement price it is available as it is available in an open box. Once the product is purchased, you are stuck with it.

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Criminal law defines the act of kidnapping as the taking by force a victim, and keeping them illegally imprisoned. In the U.S., a considerable number of child kidnappings occur as the result of a custody battle. If the child gives their consent to be taken from the custodial parent, and the child is considered competent, certain jurisdictions do not define it as a kidnapping.

The U.S. kidnapping law derives from Britain's common law. In 1932, Charles and Anne Lindbergh lost their child to a kidnapper. The outcome of this world-wide publicized event was the passage of the Federal Kidnapping Act, giving the Federal Bureau of Investigation (FBI) the authority to investigate kidnapping incidents. This federal law states if the kidnapper takes the child beyond state borders, the crime can be federally prosecuted.

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