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A business plan is the blueprint that guides aspiring entrepreneurs as they build their new business ventures. Language barriers can affect transaction costs. Linguistic distance is defined as the amount of variation one language has from another. For example, French, and Spanish are both languages derived from Latin. thehellenicvoice When evaluating dialogue in these languages, you will discover many similarities. However, languages such as English and Chinese or English and Arabic vary much more strongly and contain far fewer similarities. The writing systems of these languages are also different. The larger the linguistic distance there, the wider language barriers to cross. These differences can reflect on transaction costs and make foreign business operations more expensive. So if you set one of your business … Read the rest