BUSI 1800 Chapter Notes - Chapter chapter 1: Social Insurance Number, United States Dollar, Canadian Dollar
6 Apr 2015
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Document Summary
The business environment consists of the surrounding factors that either help or hinder the development of businesses. Governments can do a lot to lessen the risk of starting and running a business through the laws (also known as acts) that are passed by its elected officials. Businesses need to be aware of the laws that are in place (or may be passed) that will affect their operations. For example, government can keep taxes and regulations to a minimum, thereby encouraging entrepreneurship and increasing wealth. The government can also lessen the risks of entrepreneurship by passing laws that enable business people to write contracts that are enforceable in court. The movement of a country"s currency relative to other currencies also pertains to this environment. Currency movements are especially critical for countries, such as canada, that generate a great deal of business activity from exports.
