The purpose of this paper is to introduce the new global business venture from Team VBMB. This venture is to be named Island Security Inc. From security systems to security guards, Island Security Inc. will be ready with the most comprehensive protection systems available to handle all of the customers security needs. Both personal security issues and public event security issues will be provided by Island Security Inc. In today’s world security is on the minds of individuals as well as corporations looking towards the global market place to pursue new ventures , Island Security Inc will be on the forefront of the security field in the Fiji Islands and South Pacific region .
Over the past 20 years, the Fijian economy had an annual growth rate of 2.7%. (CIA-World Factbook, Feb. 8, 2007). Their economy has been doing poor due to the high cost business environment. The qualities of their infrastructure are not even up to standards and doing business with the communication company and their airport are very expensive. The financial and legal systems are hard to access without a high cost. The tax rates on companies are 31%.
Fiji’s commercial legal framework is outdated and can not support modern business transactions. Fiji’s business laws require procedures that incur high transaction costs for business and increase the risk of enforcing business deals. The legal system requires a broad range of costly licenses and registrations, particularly for the locals. The problems of delays arising from investment approvals have been documented in several other Asian Development Bank (ADB) reports. Recently a joint World Bank/FIAS initiative has begun to tackle the problems of regulation and delays in investment approvals; ...