Should they be political, economic, technological or others? What could be the most relevant ones? Also, which factors are most attractive for the respective businesses - factors of the Bulgarian business environment attracting BZ businesses and investments and vice versa?
There are several factors that could affect the economic environment of business. These are, among others, the following:
1-Political factors
2- Economic factors
3- Social factors
4- Legal factors
5- Technological factors
6- Environment factors
In my opinion, the two most relevant factors are political and legal factors.
Thank you for your response! Indeed, political contexts and cooperation are crucial to boost economic bilateral relations. A prerequisite is the Mercosur and other bilateral memorandums.
The World Bank’s Doing Business project provides objective measures of business regulations and their enforcement across 190 economies: economies are ranked on their ease of doing business, from 1–190; the rankings are determined by sorting the aggregate scores on 10 topics, each consisting of several indicators, giving equal weight to each topic. Details are at http://www.doingbusiness.org. (Data for the Bulgarian economy is at https://www.doingbusiness.org/en/data/exploreeconomies/bulgaria.)
Thank you for your response! Yes, we are taking into consideration synthetic indexes, incl. the WB, WEF and other ones.
Thank you for your response, Samia! Right! It is a kind of basic requirements.
There are many factors as culture, politics, economy but I think governments' policies affected mostly, for example, Colombian domestic laws are affecting a lot Panamanian exporters specially the once re-export from dutty frees areas such as Colon Free Zone. Local governments established barriers to protect their products instead WTC. Measures of the WTC aren't enough and several time ignored to prevent free commerce.
Jorge Morales Pedraza mentioned almost all of them and you can categorize them as the SSTEP-factors (social, sustainable, technological, economical/financial, political/legal) and make them easy to memorize. And you make a matrix of them by categorizing them further as internal or external factors.
Which of the factors are most important?
For bilateral business activities the regulations, everything will fail if there are no good business regulations in place, see:
https://www.worldbank.org/en/news/immersive-story/2018/10/31/doing-business-2019-a-year-of-record-reforms-rising-influence
Which factors are important for doing business between Bulgaria and Brazil?
I would approach the Embassy of the countries, if there are, for information of the Chamber of Commerce of both countries. Or do some research.
Here are some comparative data about both countries:
https://countryeconomy.com/countries/compare/brazil/bulgaria
As highlighted by most scholars, among the factors include: economic, political, social, technology, legal etc. They are populary referred to as the external environment
Concerning the references, it seems that there is almost no similar research done by scholars. Do you know such researches?
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