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An Analysis of the Business Environment of Three (3) Caribbean Islands

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AN ANALYSIS OF THE BUSINESS ENVIRONMENT OF THREE (3) CARIBBEAN ISLANDS

There are probably more small countries in the Caribbean than anywhere else in the world, with some countries smaller in total size than a large US city, and with as few as 20,000 inhabitants (Ferguson, 2007).
The area commonly known as the "Caribbean" is located between the continents of North and South America, and east of Mexico. The Caribbean islands loop up in a quarter circle from off the coast of Venezuela (starting with Trinidad & Tobago, then Grenada, and so on) and ending up not far from southern Florida (with the Bahamas and Cuba). The Caribbean has an interesting and sometimes troubled history, and with the different colonial influences (English, French, Spanish, even Portugese and Dutch) there's a vibrant mix of cultures and business environments (Ferguson, 2007).
The business environment is constantly changing as time goes by. There are several factors that affect the aspects of the business environment such as benefits, costs, and risks of conducting business. Other factors that the business environment are issues that affect operations, which includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors and technological developments. There are several Caribbean islands however throughout this paper I will only analyse the business environment of three (3); Barbados, Bahamas, and Cuba.
The United Nations Development Programme (UNDP) has ranked Barbados as No. 1 on its Human Development Index in the Caribbean and Latin America. Barbados enjoys a high standard of medicine and health services overall. When it come on to education Barbados has an exceptionally good educational system that comprises free primary, secondary and tertiary levels of education

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