Left: An outdoor market in Port-au-Prince.

Why Haiti?

In Haiti, the informal sector provides employment for an estimated 70% of the population. A World Bank needs assessment for Haiti estimated that 95% of private employment is in the informal sector. The role of the private sector in meeting Haiti's major investment needs, however, remains negligible. As a result, bringing informal sector businesses into the formal sector is seen as critical to ensuring Haiti's economic development and the establishment of a strong market economy. Doing so will require introducing informal sector businesses to accounting and auditing principles and practices, as sound accounting and auditing practices improve the business climate and make it more conducive to domestic and foreign investment, increase the access of small and medium businesses to financial resources, and help local businesses align their standards and practices with those of the country's main trade and investment partners.