Schwyz is a canton in central Switzerland known for its strong economy and stable government. The economy is dominated by the service sector and small and medium-sized businesses, with a particular focus on financial services, insurance, and information technology. The region also has a strong tradition in manufacturing and exports, with a focus on precision engineering and high-tech industries. The government of Schwyz is a parliamentary representative democracy, with a multi-party system and a strong tradition of direct democracy through the use of initiatives and referendums. The Cantonal Government is responsible for the administration of the canton and is headed by a government council consisting of seven members. The Cantonal Parliament, the Grand Council, is responsible for enacting laws and regulations, and has members elected for four-year terms. Schwyz has a low tax rate and is known for its stable and business-friendly environment, which attracts investment and supports economic growth.