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Commonly Asked Questions about Caribbean Business Forms

Production is the process of combining units of inputs (natural, man-made and human resources) to create output (goods and services) capable of satisfying human needs and wants. Productivity is the increase of output from each unit in the production process.
Other ways in which SMEs contribute to the Caribbean economy include workforce skills upgrading and innovation and technology changes. Beyond generating economic benefits, regional SMEs also provide solutions to social and development problems such as food security.
Forms of government assistance to business, including institutions for lending capital, training and technical assistance, research and information centres, subsidies and grants.
Capital is one of the basic factors of production along with land and labor. It is the accumulated assets of a business that can be used to generate income for the business. Capital includes all goods that are made or created by humans and used for producing goods or services.
(ii) Ways in which governments in the Caribbean attempt to regulate business activities: In the Caribbean, governments regulate business activities by setting price controls such as a price ceiling so that consumers will not be subject to high prices for certain essential Page 12 12 commodities.
Typically, there are four main types of businesses: Sole Proprietorships, Partnerships, Limited Liability Companies (LLC), and Corporations.