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Legal Environment of Business in Bangladesh

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Legal Environment of Business in Bangladesh Legal Environment of Business in Bangladesh 1 Legal Environment of Business in Bangladesh A Report On “Legal Environment of Business in Bangladesh” Course Title Legal Environment of Business Course Code LAW-234 Submitted to Abeer Khandker Lecturer Faculty of Business Administration ASA University Bangladesh Submitted by Name ID Hosnain Ahmed 092-12-0002 Riyadh Ahmed 092-12-0003 Mahmudul Hassan 092-12-0006 Tasmia Kamal 092-12-0017 Nafisa Halim 092-12-0021 Sanjida Akter 092-12-0024 Habiba Sultana 081-12-0220 Date of Submission: 20th April, 2011 2 Legal Environment of Business in Bangladesh Table of Contents …show more content…

A tort is a civil wrong, such as fraud or negligence. Tort law is designed to protect individuals from physical and mental harm, and to protect property interests and certain other economic interests and business relationships. Every business manager should be aware of the legal environment in which their business operates. Business law will introduce employees to the legal environment by discussing such topics as procedure of starting business, procedure of continues business & procedure of ending business. 4 Legal Environment of Business in Bangladesh Legal Procedures to Starting a Business Entrepreneurs in Bangladesh do not need to put up any minimum capital to start a business, but that is about all the relief they get. Bangladesh has a worldwide rank of 68 on the ease of starting a business. The process requires 8 procedures taking 37 days at a cost of 88% of income per capita—a decline from 94% in 2005. Within the region, only Bhutan and India make start-up more burdensome. The greatest obstacle is cost, which is higher in Bangladesh than in any other South Asian country. Only Nepal (where start-up costs 79% of income per capita), Afghanistan (67%) and India (74%) are in a comparable league. Elsewhere in the region it takes less than 22% of income per capita to start a business (table 2.2). Within Bangladesh start-up takes 30 days in both Khulna and Bogra and 37 days

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