Any entrepreneur would go crazy thinking about all the business opportunities available in Ecuador (I will reveal several of these in upcoming posts) but keep this in mind before you hire someone down here…
With the new presidential regime of President Correa, the country is rapidly turning into a more socialist country…with ever stricter laws protecting workers. One of which states that all hired workers are due a “liquidacion” payment upon leaving your business, doesnt matter if they were fired or quit.
In the US, you can simply fire someone and chao, but in Ecuador you will have to pay them, often around 1 and a half month´s salary in order to get them to leave (the amount depends on time of service and salary size).
Something to think about, Hasta pronto, Domenick…hey, if you liked this, you’ll love my weekly Foreign Investor’s newsletter for insider tips and opportunities in Ecuador…subscribe below(unsubscribe at any time):
Related: Where to buy posters?
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Journeyman Jack Ecuador
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