Essay On Cuba Business - 978 Words

An International Perspective on Cuba Business Nicholas C. Bolick For companies looking to expand their markets and entertaining the idea of doing business in Cuba, international managers must understand the unique set of advantages and disadvantages that this country represents before committing to that course of action, U.S. companies must first realize that the business embargo that has been in place for decades, and indeed despite loosening og parts of the embargo by the Obama administration, the future of those steps or even more business friendly thawing are not givens with the Trump administration. Most American companies simply will not be able to setup business in Cuba until congress lifts the Embargo. For those†¦show more content†¦Another potential legal hurdle is the fact that instead of corporations in Cuba, there are mostly cooperatives, these co-ops are worker-owned and have legal standing. It then becomes a necessity for companies to absolutely do their research o any legal risks, before deciding on Cuban business. Perhaps the daunting aspect of the Cuban business, would be the investment of the Cuban government. The government is a Marxist-Leninist single party state that has been ran by the Castro family since its revolution. Another governmental fact is that all broadcast media is owned by the government. The fact remains that when doing business in Cuba, you will basically have one customer; the Cuban government. The government is also getting more and more selective about what foreign investments it allows because of cummese loans and our subsides from Venezuela Latest indications are President Raul Castor will step down in February 2018, to be succeeded, by Miguel Diaz Canal who would be Cuba’s first civilian leader since 1959. However, it remains to be seen if substantial reforms, which are needed to accelerate the formation of a private sector. It is critical for international managers to understand that the embargo has had a definite effect on technology and infra-structure. When considering this market, it is necessary to understand that until 2008 cell phones and computers were not allowed to be owned. Further, in 2011, only 25% of people in CubaShow MoreRelatedConducting Business In Cuba Essay1825 Words   |  8 Pages Conducting Business in Cuba Isiah Ramos Randolph Community College Conducting Business in Cuba Conducting business here and abroad including Cuba requires thorough research, planning, financial support, legal process, and any other obstacle or problem that will come with it. Cuba since opening its door to the United States can be one of the place to conduct business. 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