I am taking Ecuador as a country to talk about a commence a business. I believe it is interesting to study this country as geographically it is embraced by south America and a home to science and wonders. It is not too famous and having a medium sized economy, so it is another reason why I opt this because I want to know more about this and explore somewhat through this assignment.
Ecuador is situated in the western corner of South America and considered as the littlest nation in South America. Columbia and Peru are another neighbours. Ecuador is situated exactly at equator which is a reason behind its name as well. It is expanded in about ( 283560 square kilometres) It is unique in terms of landscaping as it has plains, rivers, forests, volcanos and high mountains with some highly fertile land for agriculture. It is visibly so beautiful that people considered it as one of the best option to visit. It has moderate temperature which may vary from place to place and time to time throughout the year. It could be humid at one place and dry at other. Coastal areas are affected by ocean currents that cause changes in climate. To sum up, it can be said that usually it has two seasons, rainy and dry. Diverse landscape is astonishing but unfortunately, it suffered from floods, pollution, erosion, volcanic eruption, earthquakes, landslides and other disasters.
Culture: culture is so diverse. People are friendly and love to enjoy their life and celebrate small occasions. They are relaxed and of welcoming nature. Most significant thing is Ecuador’s marimba music and dance. Distinctive dress code of both men and women is a kind of specification to depict their rich culture. It’s official language is Spanish and sharing American dollars as a currency.
Government system: it is a constitutional republic where president is the head of state as well as Government. He is elected for 4 years of time period. There are multi political parties in the nation. There is a smooth democracy going on now a days. Education and health system are strongest a legal bodies have good control over all such factors which are contributing toward the development of economy. Law and order is maintained and people are satisfied with the activities of Government as it functions for equality and human rights.
Business Partners: Ecuador business partners are United States, Chile, Vietnam, Peru, Colombia, China, Brazil.
Other: it is peaceful and safest south american country to visit. Rate of unemployment is negligible and in fact trending toward a decline. There is a large scope for business. Despite of fluctuations, the economy is getting stable. It is known as banana king worldwide.
Benefits of globalisation in ecuador:
Access to foreign culture in terms of goods and services.
Development of science and technology is closely related to globalisation.
Globalisation helps to open new doors for investors to invest in a developing economy.