Author: David Smith

Emerging market businesses that lack formal compliance processes suffer twice: first from inefficiency and then from losing out on beneficial partnerships. While companies in emerging markets are becoming formal businesses in increasing numbers, there is still a sizable gap between getting a license and paying taxes (the minimum definition of “formal”) and following the internal… Read More

In Moldova, business owners like me suffer under rampant corruption and excessive bureaucracy. These challenges are linked because current burdensome bureaucratic systems create opportunities and power dynamics that allow corruption to flourish. This relationship shows how corruption in Moldova is more complex than a “law enforcement” issue. It is an entrenched systemic issue with a… Read More