Absentee business owner

Studies show that money spent locally circulates back into the community three times as much when it is not spent with an absentee-owned business.{{Cite web |last=Reporter |first=RICK WILLISStaff |title=Economists: Doing business locally is a form of stimulus|url=https://starherald.com/news/local/economists-doing-business-locally-is-a-form-of-stimulus/article_94f744c4-5ce9-55ca-a0ae-bf5f4dc9a761.html |access-date=2021-10-14 |website=starherald.com |language=en}} Local currency has been implemented in some communities as a countermeasure to this effect. Neighborhood investment, in which members of the community are given opportunities to become partial owners of new developments, is another method.Frank Green. (April 9, 2006) [http://legacy.signonsandiego.com/uniontrib/20060409/news_mz1b9neighbo.html Neighbors & the mall] UT {{webarchive|date=13 March 2012|url=https://web.archive.org/web/20120313182803/http://legacy.signonsandiego.com/uniontrib/20060409/news_mz1b9neighbo.html}}

In Brazil, studies found that more than a third of the profits generated from tourism were exported to absentee business owners.{{citation|title=Estimating the economic impacts of tourism|author=Wagner, John E.|publisher=Annals of Tourism Research|volume=24|issue=3|year=1997|pages=592–608}} In Vietnam, the economic expansion of the 1990s was associated with a rise in absentee business owners.{{citation|publisher=University of Illinois College of Law Law and Economics Working Papers|date=February 2007|title=Do Norms Still Matter? The Corrosive Effects of Globalization on the Vitality of Norms|author=Patrick J. Keenan | url=http://findarticles.com/p/articles/mi_hb3577/is_2_41/ai_n29457677/}} There has also been concern that tourism profits in Southern Africa go to absentee business owners.{{citation|title=Do Parks Harm More than they Help?|author=Michael L. Schoon|publisher=Indiana University School of Public and Environmental Affairs & Workshop in Political Theory and Policy Analysis|url=http://www.indiana.edu/~iupolsci/gradcv/schoon/peace_parks.pdf}}

Absentee business owners can be more vulnerable to theft by employees, especially when record keeping is turned over to employees, unless proper internal controls and review are implemented.{{cite web |url=http://www.fiducial.com/Entrepreneur/StrategicPlanning/planning.asp |title=Strategic Planning |access-date=2010-04-21 |url-status=dead |archive-url=https://web.archive.org/web/20100505055606/http://www.fiducial.com/Entrepreneur/StrategicPlanning/planning.asp |archive-date=2010-05-05 }} In the United States, many business-owning military reservists have become absentee business owners during long tours of duty in Iraq and Afghanistan.{{cite news |url=https://money.cnn.com/magazines/fsb/fsb_archive/2006/02/01/8368196/index.htm |work=CNN |title=Risking Life and Limo |first=Christopher S. |last=Stewart |date=2006-01-28}}

• Successor company
• Absentee landlord

{{Reflist}}

• [https://www.worldwideformations.com/ Business Setup in UAE]

Category:Business ownership