See full version: What are the Best Places for Doing Business in the Caribbean
Puerto Rico’s high rating came in large part to strong ratings in areas including resolving insolvency, getting credit and starting a business. It scored poorly in areas including registering property, dealing with construction permits and paying taxes.
The factors include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency, among others. more
That means the ranking reflects Puerto Rico’s regulatory environment, not its debt-riddled economy.
The World Bank has released its 2016 Doing Business report, and there’s a familiar place at the top of the Caribbean region: Puerto Rico. here
Among independent Caribbean countries, Jamaica is the leader, ranked 64th in the world for ease of doing business, followed by St Lucia at 77th, Trinidad and Tobago at 88th in the world and Dominica at 91st in the world. here
News Americas, NEW YORK, NY, Fri. Nov. 2, 2018: The World Bank Group this week released its latest global ranking on Doing Business for 2019 and only 3 Caribbean countries managed to rank about 100 globally out of a total of 190. So which Caribbean nations are the best to do business according to the World Bank? Here are the top 5 for 2019:
Coming in at second regionally but 75 th globally is Jamaica, which showed improvements in the areas of Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property, Resolving insolvency and Getting credit. The one area it declined in was ease of paying taxes. more
1: Puerto Rico
The Caribbean is one of the most beautiful, pristine places in the world, and many people dream of living and owning a business there. If you are a Caribbean native or will be new to the area, you can start a variety of lucrative businesses.
Thousands of tourists are drawn to the Caribbean every year, which inevitably means there are many people who return home with gifts for family and friends. Opening a Caribbean gift shop is a sound business idea -- it is a needed service. Try to differentiate yourself from other tourist shops by offering authentic merchandise instead of only selling generic items such as T-shirts, key chains, and mugs. If you can, offer items made by local artists and crafters. Examples of items you can include in your Caribbean gift shop: artisan jewelry; postcards made from art prints by local artists; music CDs of local bands. more
A popular trend is destination weddings, or getting married in a faraway location. One of the most sought-after destination wedding locations is the Caribbean, making a destination wedding service a smart business to start. You can offer wedding planning, or help couples who decide to get married on the spur of the moment during vacation get the necessary paperwork they need, an officiant, and a location.
Editor’s Note: Some of the information below may be out-of-date. The Florida Keys and the U.S. Virgin Islands were heavily impacted by Hurricane Irma and Hurricane Maria. Please visit caribbeantravelupdate.com, fla-keys.com or the specific hotel’s website for updates.
To start a business on an island, answer these questions: Are there lots of expats on the island? Can you find reliable help? If yes, then you’re first step after landing on the island is to make connections by volunteering at local events. These places make the most sense for all of the above.
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