OAS MSME Newsletter: ( June 2024):
This OAS MSME Newsletter is published by the Department of Economic Development of the Executive Secretariat for Integral Development (SEDI). It is dedicated to measures recently announced by OAS Member States to drive the economic recovery of micro, small and medium-sized enterprises (MSMEs). The policy responses vary from country to country and are specific to the economic circumstances of each Member State. Given that every day produces new developments, this inventory is in no way exhaustive.
OAS Women’s Economic Empowerment (WEE) Project
The Roundtable provided a space for discussion among public and private sector stakeholders in the WEE project participating countries of Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Kitts and Nevis, and St. Vincent and the Grenadines and the wider Caribbean region, on policies and strategies for increasing women’s participation and leadership in the economy, as well as policy reforms needed for the same. The experiences and good practices shared during the event will be published on the WEE MSME Clearinghouse.
Technical Assistance for Women Entrepreneurs in Antigua and Barbuda
The Antigua and Barbuda Investment Authority, (ABIA) in collaboration with the OAS Women’s Economic Empowerment (WEE) project announces a call for registration for the women owned businesses who can benefit from technical assistance in the area of ecommerce, and online marketing.
More specifically, Women owned businesses who are market-ready and or near marketready, who have marketable products and services and wish to effectively market their products using the international e-commerce platforms such as Amazon and Etsy, among others are encouraged to apply.
National Government promotes the adoption of Artificial Intelligence to improve the productivity of MSMEs
The secretary of SMEs, Entrepreneurs and Knowledge Economy participated in a meeting organized by Microsoft to analyze the adoption and impact of AI in Argentina and the region, where it was revealed that 55% of companies are carrying out a project related to the development and application of this technology.
The National Government exempts essential imported goods for the MSME sector from VAT and Profits Tax
The AFIP measure, coordinated with the Secretariat of Small and Medium Enterprises, Entrepreneurs and Knowledge Economy, aims to reduce production costs and final prices, benefiting key sectors such as food, beverages, cleaning, perfumery and chemicals that have the “MSME Certificate”.
The National MSME Roadshow is a dynamic initiative aimed at bolstering the growth and resilience of Micro, Small, and Medium-sized Enterprises (MSMEs) throughout Belize. Building on the government’s commitment, under Plan Belize, to create an enabling business environment, this signature program encompasses strategic components such as, Capacity Building, Access to Finance, Policy and Legislative Reform, MSME Formalization, and Market Access through an Expo.
Productive Development promotes FexpoMype from June 12 to 16 in Oruro
The Ministry of Productive Development and Plural Economy, through the Vice Ministry of Micro, Small Business and Crafts, promotes FexpoMype in its fourth version, with the participation of more than 200 productive units from different sectors from June 12 to 16 in the plaza Sebastián Pagador from the city of Oruro.
Government and National Confederation of Micro and Small Businesses-Conamype seal a 14-point agreement
The Ministry of Productive Development and Plural Economy and the National Confederation of Micro and Small Businesses-Conamype of Bolivia, agreed to work on 14 points, after a fruitful dialogue and coordination of actions that will promote the reactivation of this sector.
Productive Development launch Multisector Productive Fair Made in Bolivia for Mother’s Day
The Ministry of Productive Development and Plural Economy, through the Vice Ministry of Micro, Small Business and Crafts, launched the Multisectoral Productive Fair “Made in Bolivia” on May 26 and 27 of this year, in Plaza San Francisco.
Government invests more than Bs 3,132 million in the reactivation of MSMES and artisans
Through the Special Financial Support Program for Micro and Small Businesses – PROMYPE, the SIBOLIVIA credit, the Bolivia C-reActiva Productive Technical Support Program, the Made in Bolivia Seal Certification and others, the Government allocates more than Bs 3,132 million in the economic reactivation of artisans, small and micro entrepreneurs.
Sebrae offers guidance to individual microentrepreneurs who did not declare revenue in 2024
More than 7.2 million individual microentrepreneurs (MEI) across the country did not submit the Simples Nacional Annual Declaration (DASN-SIMEI) within the deadline, which ended on May 31st – that is, almost half of Brazilian MEIs, 47% are in default with the Federal Revenue. Now, taxpayers will have to pay a fine of at least R$50 or 2% of total revenue per month late, up to a limit of 20%.
Technology improves the productivity of businesses in the food sector
Sebrae offers strategic content at the largest food and beverage fair in Latin America. The objective is to encourage digital maturity among micro and small entrepreneurs in the gastronomy sector.
Organic foods gain more space on Brazilians’ tables and open up space for small businesses
In the 2024 edition of Biobrazil Fair, Sebrae seeks to connect organic producers with purchasing companies to establish new businesses and connections.
Sebrae Startups Award announces 1000 startups selected for the second phase
The Sebrae Startups Award released the list of 1000 businesses that will proceed to the second phase of the project and will participate free of charge in the Startup Summit 2024, where they will be able to connect with venture capital managers and officials. Over five stages, R$950,000 will be distributed, reflecting the ongoing commitment to boosting businesses that represent the future of the market.
The participation of women among the most experienced entrepreneurs is growing
Change in profile indicates that more and more women can overcome obstacles and establish themselves as business owners, with more than 3.5 years of activity. Brazil registered an increase in female participation in the contingent of so-called established entrepreneurs (with more than 3.5 years of entrepreneurship).
Sebrae Startups and AWS announce new technology track for the Startup na Nuvem project
Sebrae Startups, a platform for initiatives aimed at startups from the Brazilian Micro and Small Business Support Service, and Amazon Web Services (AWS) announce a new phase of the Startup na Nuvem project, a collaboration that began in 2023 and has already trained around 20,000 people.
Capital Abeja and Capital Pioneras: Funds for the creation of more than a thousand companies led by women
Through two Sercotec initiatives, subsidies of $3.5 million will be granted so that entrepreneurs can carry out their business ideas. One of the funds will be especially aimed at areas with lower participation of women.
Exporting SMEs and female entrepreneurship mark Sercotec’s Results in 2023
More than 141 thousand beneficiaries among its promotion programs and 33 thousand companies that accessed specialized advice, were some of the results presented by the Technical Cooperation Service, Sercotec for the year 2023.
iNNpulsa arrives in Santander, La Guajira, Huila and Nariño with its festival of entrepreneurship, innovation and popular economy ‘Héroes Fest’
The Ministry of Commerce, Industry and Tourism and iNNpulsa Colombia announce that their Héroes Fest festival will arrive in Santander, La Guajira, Huila and Nariño in 2024, to strengthen and inspire more than 4,000 entrepreneurs and boost the popular economy in these regions through conferences, mentoring, specialized workshops, connection spaces, trade fairs, business roundtables and more.
MICM has impacted 86,493 people in entrepreneurship and business management programs nationwide in four years
The Ministry of Industry, Commerce and MSMEs (MICM), through the Vice Ministry of Promotion of MSMEs, develops a training plan for the general population, which in the last four years has impacted 86,493 nationwide with business initiatives.
BCRD and MICM present the results of the National Survey of MSMEs 2022-2023
The Central Bank of the Dominican Republic (BCRD) and the Ministry of Industry, Commerce and MSMEs presented the results of the National Survey of Micro, Small and Medium Enterprises (MSMEs) 2022-2023, whose main objective was to identify and capture economic and financial information about this segment of companies of utmost importance for the development of national economic activity. The results of the survey will constitute a fundamental tool for making policy decisions on MSMEs and, in turn, will serve as a basis for quantifying the contributions of this important conglomerate to the economy.
Ecuador committed to youth entrepreneurship with loans from BANECUADOR
On February 19, 2024, the public bank launched the Joven Emprende Ahora credit line, aimed at young professionals who have registered their degree with the Secretariat of Higher Education, Science, Technology and Innovation (SENESCYT). The credits range from USD 500 to USD 3,000 without a guarantor, and from USD 3,001 to USD 5,000 with a guarantor.
51 SMES trained in the topic of “Reverse Auction”
CONAMYPE, in coordination with the National Purchasing Directorate (DINAC), trained 51 SMES on the procedures and benefits of the acquisition method called “Reverse Auction”. The objective of this workshop is to train and provide tools to SMEs, allowing them to compete effectively in the public procurement market and increase their chances of success in obtaining contracts from Government institutions.
National Council of MSMEs approves fund of 75 million quetzales for entrepreneurs of Microenterprises and Small Businesses
The National Council for the Development of Micro, Small and Medium Enterprises, MSMES, approved the Financial Support Policy for the Economic Empowerment of Women Entrepreneurs and/or Owners of micro and small businesses with resources from the trust “Fondo de Desarrollo de la Mipyme”, assigning a fund in the amount of Q.75 million quetzales. This amount will be used to grant loans under favorable conditions to women in said sector, through the Financial Services Entities, executors of the Trust, as indicated by the Vice Minister of MSME Development of the Ministry of Economy, who coordinates the Council.
Government encourages micro and medium businesses to discover their niches
With the rapid transformation in the Guyanese economy, micro and medium business owners are encouraged to discover their niches to allow their entrepreneurial aspirations to be prosperous.
US$5.5 Million in Support Provided to 1353 MSMEs under BIGEE Programme
A total of 1,353 micro, small and medium-sized enterprises (MSMEs) have received support totalling US$5.5 million under the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme, being implemented by the Development Bank of Jamaica (DBJ). The programme, aimed at promoting sustainable and robust growth among established MSMEs and scalable start-ups, is making an impact in the Jamaican business community.
Inauguration of the Center for Innovation and Productive Entrepreneurship INADEH
The National Institute of Vocational Training and Training for Human Development (INADEH) has marked a milestone by inaugurating the Center for Innovation and Productive Entrepreneurship INADEH. This center represents a solid commitment to strengthening productive entrepreneurship at the national level. Its mission includes the promotion of best practices of entrepreneurial culture, the strengthening of entrepreneurial skills and the inclusion of vulnerable groups, thus reinforcing the basis of a dynamic and equitable economy.
Strategy to promote and articulate the competitiveness of MSMEs
The Vice Ministry of MSMES and the Commercial Information Bureau S.A (BICSA) signed an agreement with the objective of promoting entrepreneurship and the creation of new companies, as well as providing support to MSMES for their formalization and insertion into the market and access to financing.
Vice Ministry of MSMES joins efforts with Governments and Municipalities for regional development
To promote economic and social development in the different cities and departments of the country, the Vice Ministry of MSMES launched a series of meetings between the Ministry of Social Development (MDS) and local governments, with the aim of involving governors and mayors of each department. This process seeks to understand local problems and promote collaboration between authorities.
MIC and Basa join forces to optimize the business management of MSMEs
The Ministry of Industry and Commerce (MIC), through the Vice Ministry of MSMEs, signed an agreement with Banco Basa, with the objective of generating financial products in accordance with the needs of the sector, in addition to continuing to add allies who are interested in serving the sector. Micro, Small and Medium Enterprises segment.
Activities to support MSMEs and entrepreneurs in the East of the country
The Vice Ministry of MSMES, of the MIC, signed several agreements with entities in Alto Paraná, which aim to expand the spectrum of opportunities for entrepreneurship and micro, small and medium-sized businesses, in a department that occupies the second place in number of entrepreneurs in Paraguay.
Digital transformation as a tool for the formalization of MSMEs
The MIC vice minister of MSMEs spoke of the importance of developing and strengthening the digital transformation of Micro, Small and Medium Enterprises, as a window to attract them towards formalization and promote the growth of the sector.
MIC and DHL sign agreement to benefit MSME exporters
The Vice Ministry of MSMEs of the Ministry of Industry and Commerce, and the firm DHL Express, signed an inter-institutional agreement of mutual support for the execution of the PYMEXPORTA Program promoted by DHL, with the aim of promoting internationalization and facilitating the export process of this sector. Through this agreement, micro, small and medium-sized companies that export using DHL Express services will receive a 50% discount on product shipping costs, and those that participate in free workshops and activities developed within the framework of this agreement, identified by the MIC.
MIC seeks to increase the volume of exports of MSME products through Exporta Fácil
With the aim of strengthening the internationalization of the export of Micro, small and medium-sized companies, with a greater volume of shipments, the first meeting of the inter-institutional team of the Easy Export Program was held, led by the Vice Ministry of MSMEs of the Ministry of Industry and Commerce (MIC).
Space that promotes the circular economy with the presence of MSMEs
The promotion of responsible consumption, sustainable practices and the importance of the circular economy were the main objectives of the “Island with applied circular economy, to promote responsible consumption”, inaugurated at the Casa Rica Supermarket, Los Laureles.
Produce: Innovative gifts for Father’s Day developed by Peruvian entrepreneurs and MSMEs
Innovative products have been created with the financing and technical support of the ProInnóvate program of the Ministry of Production.
Within the framework of Father’s Day, the Ministry of Production (Produce) presented some innovative gift proposals, ranging from accessories, souvenirs, sweets and liquors, which have been developed by Peruvian entrepreneurs and MSMEs, thanks to the co-financing of the ProInnóvate program.
More than 450 SMES offer gifts for Father’s Day through Produce’s virtual platform
The Ministry of Production launches the ‘Peru Produce for Dad’ campaign, which promotes virtual purchasing for SME companies. The Ministry of Production (PRODUCE), through the National Your Company Program, offers a virtual platform to micro and small businesses nationwide so that the public can access a safe and orderly purchase through its official channels.
Start of the implementation of the international cooperation project “Peru Global Quality and Standards Program Phase II: Strengthening the quality of coffee and cocoa for exports.” This project, which will last three years, will have financing from the Government of Switzerland for 1.5 million euros and will benefit 4,000 producers and 7 cooperatives of the coffee and cocoa chains in the San Martín region.
SBA Announces $30 Million in Grant Funding for New Women’s Business Centers
This includes funding to support further expansion of the WBC network, the opening of a WBC in the U.S. Virgin Islands, and first-time specialized funding for WBCs that specialize in federal contracting and child care businesses. The SBA is also announcing that WBC funding will now be available to organizations that provide mostly or entirely virtual counseling and training services to women-owned small businesses across the country – recognizing the increasing importance of digital services and expanding the SBA’s reach to entrepreneurs who may not have convenient access to the current WBC network, including women in rural communities, tribal lands, and military families.
Dinapyme participated in the organization of the Entrepreneurship, Business and Technology meetups in Florida and Paysandú
These initiatives emerged as a valuable opportunity to promote the development of the technology sector in the region, encourage the use of technology in companies and ventures, as well as inform about the various opportunities that this sector offers.
