Business Enabling Environment
Businesses do not exist in a vacuum. They operate in an environment that includes cultural and professional norms and customs, laws, regulations, policies, international trade agreements, and public infrastructure. These can either facilitate or hinder private enterprise. And these environments are increasingly global, from treaties, trade agreements, and international standards at one end, and local policies, permitting, taxation, and regulations on the other. All of them govern the functioning of the private sector.