OAS MSME Newsletter: ( October 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.
Technical Assistance for Micro, Small and Medium sized Businesses (MSMEs)
The Antigua and Barbuda Investment Authority (ABIA), in collaboration with the Caribbean Development Bank (CDB), will be offering technical assistance to MSMEs in the area of financial management. The objective of this initiative is to provide one-on-one assistance in the area of financial management to these businesses.
RIGI: Starting today, companies can apply
The government regulated operation of RIGI, a regime that offers predictability, tax incentives, and legal benefits for 30 years, to attract investment projects that exceed $200 million.
‘Plan Your Future’: Training for young people looking for their first job
Registration is open until November 10. This training to discover and enhance skills to improve employability.
Training session to improve entrepreneurship in technical schools
A prominent virtual meeting took place at the Sarmiento Palace via Zoom, gathering authorities from the Ministry of Human Capital, the Undersecretariat of Entrepreneurs, Junior Achievement, and the INPI. This event was aimed at teachers and directors of professional training, with the goal of strengthening entrepreneurial skills in the educational field.
NOVEMBER 29 & 30, 2024 – BELTRAIDE 7TH NATIONAL ENTREPRENEURSHIP CONVENTION 2024
Theme: Powering Small Businesses with Big Data and Artificial Intelligence
The objective is to empower businesses with the future of technology and be a part of Belize’s biggest entrepreneurship convention. This is an opportunity to harness the power of Big Data and AI to take businesses to the next level.
SIBOLIVIA Credit expands to the export sector with a historic annual interest rate of 3.5%
With a fund of Bs 2.5 billion, SIBOLIVIA credit expands to the country’s export sector at a historic annual interest rate of 3.5%, as established by a supreme decree approved this by ministers.
The Ministry of Productive Development and Plural Economy received the “Golden Palm,” the highest award given annually during the main ceremony of this multisectoral even,t in the “Indoor Stand Exhibition” category.
Sebrae/SC announces finalists for the SEBRAE Delas Women Business Award in Santa Catarina
The national award ceremony will take place during the Delas Summit event in Florianópolis. Sebrae announced the finalists of the Santa Catarina stage of the Sebrae Delas Women Business Award, an initiative that has promoted female entrepreneurship in Brazil since 2004. This year’s national ceremony will be in Florianópolis on the first day of the Delas Summit, held on November 21-22 at CentroSul. Those interested can participate through the following link: https://delassummit.com.br/
Small businesses account for 96% of all new companies created in Brazil
In September, openings were 17% higher than in the same period last year, according to a survey by Sebrae.
Conecta Day: Discover Sebrae’s partnership platform
Entrepreneurs are be able to learn how Sebrae Conecta can help boost small businesses.
Brazil breaks record for individual microentrepreneurs in activity
A survey by Sebrae reveals that of the total active, 90% of individual entrepreneurs (MEIs) are operating normally.
BNDES and Sebrae launch a fund that guarantees R$ 9.4 billion in credit for microentrepreneurs
This assisted credit will allow entrepreneurs to be monitored and receive support from Sebrae.
Sebrae discusses the inclusion of small businesses in the preparatory discussions for COP 30
In partnership with the Ministry of Foreign Affairs (MRE) and the United Nations Development Programme (UNDP), SEBRAE will support the largest international event in this area.
Canada is a world leader in artificial intelligence (AI). Its vast AI ecosystem includes researchers, academics, entrepreneurs and more than 1,500 innovative companies, many of which are small or medium-sized enterprises (SME), serving a wide variety of economic sectors that include health, financial services and agriculture.
The Minister of Small Business made the following statement today in recognition of Small Business Week.
Government reduces credit card fees by 27 per cent for small business owners
Canada’s small- and medium-sized businesses create good-paying jobs, keep main streets flourishing across the country, and deliver the dream of entrepreneurship. It is essential that these businesses thrive so they can continue being the bedrock of Canada’s communities and economy.
Government highlights significant new support to help small business owners
The federal government announced the payment amounts for the new Canada Carbon Rebate for Small Businesses, which will deliver over $2.5 billion to about 600,000 Canadian businesses before the end of this year. This refundable tax credit will return a portion of the fuel charge proceeds from 2019-20 through 2023-24 to small businesses, in jurisdictions where the federal fuel charge applies.
The Mejora Negocios program will provide access to specialized advice to strengthen the competitiveness of MSEs and cooperatives, aiming to reach key markets such as mining. Applications are open until Tuesday, October 29
MSMEs from across the country showcase their innovative products at Espacio Food Service
Sercotec invited a group of micro and small businesses to exhibit at the most important international food industry fair in the country, seeking to foster business alliances that boost their growth.
2nd Edition of the ‘Emprende y Colabora’ Meeting
The ‘Emprende y Colabora’ Meeting is a training event driven by Sercotec Valparaíso’s Regional Directorate, together with SERCOTEC Viña del Mar’s Business Development Center and the Viña del Mar Municipality, aiming to position the commune as a growth hub for SMEs in the Valparaíso Region.
Fair Payment Terms: How to Prepare to Participate in the Ranking and Obtain Seal
In a few weeks, the Ministry of Commerce, Industry, and Tourism will open the call for companies to apply for the Fair Payment Terms Ranking or to obtain the “Fair Payment Company that Pays on Time” seal.
With the ‘Cluster Territories’ strategy from the Ministry of Commerce, Industry, and Tourism, executed by Colombia Productiva, 63% of the registered clusters in the country have been impacted. 1,164 companies, 92% of which are SMEs, have improved their productivity and are better prepared to export.
6,000 Entrepreneurs from the Popular Economy Will Be Able to Access Loans to Grow Their Businesses
The Ministry of Commerce, Industry, and Tourism, through INNpulsa Colombia, and in partnership with the Fomentamos Corporation, will offer nano-loans to productive units of the popular economy tailored to their needs.
Head of the MICM reaffirms support for entrepreneurs at the Dominican National Brewery event
During the graduation ceremony and launch of the “Entrepreneurs, owners of their future” project of the Dominican National Brewery, the Minister of Industry, Commerce and MSMEs (MICM) highlighted the allocation of more than 16.5 billion pesos to help more than 140,000 entrepreneurs, generating more than 310,000 direct jobs.
The delivery was made through the National Council for the Promotion and Support of Micro, Small and Medium Enterprises (Promipyme), where 41.3 million in loans were distributed among 221 microentrepreneurs and entrepreneurs, of which 58% are women.
Digital Connectors seeks to address digitalization challenges and create business opportunities by connecting companies from the Dominican Republic with innovation ecosystems in Europe, Latin America and the Caribbean. And it is an open innovation pilot program that will allow local companies to access high-quality digital acceleration services. This will open new business opportunities in the field of digital transformation and global competitiveness.
The extended Programme will offer significant relief from the payment of duties and taxes aimed at creating jobs and stimulating business activity across various economic sectors.
Economic Prosperity Workshop to Boost Foreign Investment and Strengthen U.S.-Grenada Trade Relations
The Government of Grenada, in partnership with leading U.S. trade and investment experts, is currently hosting a landmark Economic Prosperity Workshop. This four-day event, which ended on September 19, aims to promote foreign investment, enhance trade relations between Grenada and the United States, and provide actionable insights into fostering sustainable economic growth.
Strategy to promote entrepreneurship and innovation
Representatives of Manos Unidas from Spain and Guatemala, within the framework of the European Union programs to Support Decent Employment and Decent Work, met with the Vice Minister of MSME Development and the team in charge of these programs.
The Vice Minister of MSME Development conducted a work tour at the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile, with the purpose of learning about the best practices and experiences in promoting the development of MSMEs. One of the best practices was the promotion of MSMEs through technological innovation and the promotion of the social and solidarity economy, mainly applied in Chile.
Expo Innovate 2024 Entrepreneurship Fair Inaugurated
With the participation of 50 entrepreneurs, the Ministry of Economy, through the Vice Ministry of MSME Development and the Entrepreneurship Unit, inaugurated the Expo Innovate 2024 Entrepreneurship Fair, in alliance with the Entrepreneurship Center of the Faculty of Economic Sciences of the University of San Carlos of Guatemala.
Bilateral Meeting with International Trade Centre (ITC)
During the meeting, the ITC Executive Director spoke about the role of ITC in earlier projects in Guyana related to the production of coconuts and cassava processing. While the initiative is attributed to the CARICOM region, there has been a more focused approach to Guyanese companies, including small and medium business enterprises. The Executive Director highlighted that ITRC has been working together with Guyana on its SheTrades Hub projects. She also commended Guyana for its regional and global leadership roles in Food and Nutrition Security.
Mexico and Australia join forces to promote MSMEs of indigenous people
The Ministry of the Economy (SE) and the Australian Export Council held a training workshop this Thursday and Friday to promote the empowerment of micro, small and medium-sized enterprises (MSMEs) owned by indigenous people or communities, to facilitate its expansion to international markets.
Data México makes information on Mexican MSMEs available
This section provides information on Mexican MSMEs, which are the backbone of the country’s economy and represent more than 99% of Mexican companies, in addition to showing the most significant sectors of economic activity in which they are developed.
Secretary of Economy and CAF relaunch new platform for MSMEs in Mexico
Empowering Mexican micro, small and medium-sized businesses (MSMEs) is the purpose that brought together the Mexican Ministry of Economy and the Development Bank of Latin America and the Caribbean (CAF) in the relaunch of the digital services platform MSMESMX 2.0 , which aims to promote digitalization and business training, which will promote the opening and operation of businesses, the commercialization of their products and services, as well as the internationalization of MSMEs.
Zero Hunger Program and its positive spillover effect through MSMEs
The Minister of Industry and Commerce highlighted the positive spillover effect of the Zero Hunger Program not only in school feeding, but also in the strengthening of micro, small and medium-sized businesses in the country. The Minister talked about how MSMEs are being integrated into the value chain, generating jobs and improving the economic conditions of, for example, rural producers.
Promotion of alternative financing to support MSMEs development
Within the framework of the Digital Transformation and Financing Program for MSMEs, the Vice Minister of MSMEs held a meeting with seven brokerage houses in the country to learn about the developments and advances of the alternative financing platform for this economic sector.
Within the framework of Entrepreneur’s Month, the Vice Ministry of Mipymes, presented a series of activities to be carried out in the month of November, in conjunction with Asepy and Capace, such as the “Emprende Fest” and the “Expo eCommerce 2024”, respectively, with the aim of promoting the country’s microbusiness fabric.
Encourage the formalization of MSMEs and entrepreneurs through digitalization
Facilitating the work of Micro, Small and Medium Enterprises through digitalization and simplification of procedures, to subsequently achieve access to credits and markets, is one of the goals of the Vice Minister of MSMEs as discussed during the panel “Economic Recovery and the Digital Sector”, organized by SELA and CAF.
SBDC centers as a channel for the growth of the microeconomy
Within the framework of the technical visit to the San Lorenzo SBDC Center, the Minister of Industry and Commerce highlighted the commitment and importance of the SBDC program for the economic development of MSMEs, the creation of jobs and the growth of the microeconomy.
SME Investment Forum 2024 to promote access to financing for SMES
During his welcoming remarks, the Vice Minister highlighted the importance of this event as a key platform to connect investors with SMEs, allowing not only access to capital, but also to mentoring and contact networks that are crucial for growth and business development. “This forum is an opportunity for our SMEs to learn about current trends in investment and financing, facilitating access to innovative financial tools such as Fintech and venture capital,” he noted.
Through the National Tu Empresa Program, Produce has formalized more than 55 thousand MSMEs so far this year.
PRODUCE promotes the formalization of entrepreneurs through the National Tu Empresa Program
The National Tu Empresa Program of the Ministry of Production (PRODUCE) offers free support and advice to entrepreneurs in the process of formalizing their businesses. Through the Business Development Centers (CDE) distributed nationwide, Produce has facilitated the creation of companies, effectively guiding those who wish to take the step towards formality.
Ministry of Production provides training to SMEs to enhance their businesses
To date, PRODUCE has trained more than 3,500 specialized SMEs from various regions of the country, under the theme of business management, productive development and digitalization.
The Vice Minister highlighted public-private coordination as key to the digitalization of small and medium-sized companies.
Caribbean Digital Transformation Project offers free digital courses
Classses are offered at no cost to participants. The Sir Arthur Lewis Community College, in collaboration with the Government of Saint Lucia, is offering several free courses as part of the Caribbean Digital Transformation Project (CARDTP).
Minister meets with scholarship agency and university representatives on workforce development
The Minister of Labour and the Public Service met with the founder of the Charlotte Knowles-Thompson Agency, and 22 representatives from US-based universities and colleges to discuss the creation of effective local programmes and the availability of scholarship opportunities for Bahamian students, workers, and public servants.
EXIMBANK and CAF Partner to Strengthen SMEs and Drive Export Growth in Trinidad and Tobago
More than one hundred (100) Small and Medium Enterprises (SMEs) in Trinidad and Tobago are set to receive a significant boost in financing to grow their operations and expand into new markets.
More Than a Dozen Private Funds to Invest $2.8 Billion in Over 1,000 Critical Technology Startups and Small Businesses
Awardees Will Serve as Hubs for Local Economies in BioTech, Cybersecurity, Smart Manufacturing, and Agriculture
Administration Finalizes Rule to Lower Costs for Small Businesses
After Interest Rate Cuts Generate Automatic Savings for Hundreds of Thousands of SBA Borrowers, 504 Program Changes Will Lower Costs Further for more small businesses
SBA Administrator Announces $20M in Grants for States to Boost Small Business Exports
43 State Trade Expansion Program Awardees to Provide Financial Support for Trade Missions and Training
SBA Urges Small Businesses to Strengthen Resilience During National Disaster Preparedness Month
Agency Highlights Key Resources and Support to Help Communities Prepare for and Recover from Disasters
SMEs Participated in Workshop on Packaging Design and Selection
A virtual workshop on packaging design and selection, aimed at micro, small, and medium-sized enterprises (SMEs), was held on October 9. It was coordinated by the Territorial Development Area of the Handcrafts, Small and Medium Enterprises Directorate (Dinapyme) of the Ministry of Industry, Energy, and Mining (MIEM).
MIEM-Dinatel Held Digital Transformation Workshop for SMEs Along with ITU
On September 10 and 11, the National Directorate of Telecommunications and Audiovisual Communication Services of the Ministry of Industry, Energy, and Mining (MIEM-Dinatel), together with the International Telecommunication Union (ITU), organized the introductory workshop on digital transformation for SMEs. The activity had more than 40 participants.
