OAS MSME Newsletter: ( September 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.
Meeting for technological linkages between entrepreneurs, SMEs and investors
This meeting took place at the Cultural Science Center to work on ideas, projects and investment and credit possibilities to create linkages between the different sectors.
The government implemented improvements and expanded the scope of the Single Financial and Economic File to improve access to financing for all Micro, Small and Medium Enterprises (MSMEs) in the country, which in turn will inject greater dynamism into the offer of products and services from entities that grant credits.
Government opened call for Tax Credit Program for SME Training
The benefit works through the issuance of an electronic tax credit certificate, applicable for the cancellation of national taxes. Expenses for open training activities will be recognized from January 1 to December 31, 2024.
This public-private initiative has among its objectives the creation of employment, promoting the development of companies and entrepreneurs, promoting training of qualified resources and strengthening the export of goods and services.
BLAZE Awards Applications Now Open
The BELTRAIDE BLAZE Awards announce that applications are now open for 2024. These prestigious awards celebrate the innovation, resilience, and achievements of entrepreneurs across diverse sectors.
SIBOLIVIA Credit disbursed Bs 1,664.6 million to 12,745 productive units of micro enterprises
The SIBOLIVIA credit for the reactivation and development of the national industry with import substitution, disbursed Bs 1,664.6 million to 12,745 productive units of small and micro enterprises, constituting 97.66% of the transfers, according to the report of the Trust for the Reactivation and Development of the National Industry-FIREDIN, of the Ministry of Productive Development and Plural Economy.
Selling products and services on marketplaces has become a promising path for those who want to keep their business competitive in the market. To help small business owners explore all the possibilities of this virtual universe, Sebrae launched an unprecedented mapping in which it identifies the 157 most relevant marketplaces in the country, in 18 segments, such as agribusiness, pet business, home and construction, among others.
Sebrae and Sicoob come together to boost the local economy throughout Brazil
Sicoob, a financial institution with more than 8 million members, and Sebrae signed an unprecedented partnership to value local and regional products, highlighting the work of entrepreneurs throughout Brazil. The idea is to promote Geographical Indications (GI), a mechanism that recognizes and protects products whose geographic origin gives them unique characteristics and qualities. The objective is to join efforts to assist, with financial support and training, the producers running these businesses, which drive the local economy and help preserve cultural traditions. Coffee and wine GIs will be the first to benefit through the partnership.
Sebrae presents crafts as a tourism enhancer
Brazil is a country with all sorts of destinations to delight tourists, who take with them souvenirs of the places they visit. In addition to photos, which are available to every traveler, it is also through crafts that they find a way to revisit the places they have visited. Knowing this, Sebrae will explore this driving element of experiences at the 8th National Tourism Exhibition, an event promoted in partnership with the Ministry of Tourism and taking place in Rio de Janeiro/RJ.
Investments and access to capital are key to growing and supporting startups with high growth potential. This is especially true for entrepreneurs who have traditionally been under-represented in the start-up space, including women and members of Indigenous, Black and 2SLGBTQI+ communities. Canada announced the second $25 million investment in five more venture capital (VC) fund managers as part of the inclusive growth stream of the renewed Venture Capital Catalyst Initiative (VCCI).
Sercotec’s initiative will provide financing and technical assistance to contribute to the reactivation of businesses in civic centers in the regions of Antofagasta, Coquimbo, Valparaíso, Metropolitana and Biobío.
Fund to support the digitalization of small stores in the O’Higgins Region
With the aim of strengthening small neighborhood stores, the Regional Government of O’Higgins and Sercotec announced a new call for the Modernize your Store program.
More than 400 women promote new businesses in the O’Higgins Region with support from Capital Abeja
The call from the Regional Government and Sercotec allocated $1.9 billion for the creation of formal SMEs led by local businesswomen. This Monday, authorities led a ceremony to recognize beneficiaries.
Sercotec and Coca-Cola Andina sign agreement to boost growth of micro and small businesses
Through collaborative work, they will seek to offer better opportunities for the development of smaller companies, facilitating their integration into broader value chains and strengthening their business skills.
Sercotec opens call for SMEs and cooperatives to participate in Expo Mercado Público 2024
The institution will have a special pavilion for micro and small businesses and cooperatives within the most important public procurement fair in Chile.
Ministry of Energy and Sercotec launch program for workers in transition zones
The initiative includes a training plan to boost entrepreneurship capacity, the creation of new businesses and training in the green economy, considering a total budget of close to $340 million for the three regions where the program will be implemented.
SMEs supported by Sercotec stood out during the Expo Smart City Santiago 2024
A group of 16 companies and cooperatives from various regions participated in this international event that presented innovative product and service solutions for smart cities.
The entity increased the budget by 52% for the initiative that grants subsidies of up to $20 million to representative organizations of micro and small businesses, unions and cooperatives of a national nature.
Colombia has nearly 1.56 million active formal companies, the highest number in the last decade
Of these companies, nearly 374,000 (24%) are in Bogotá; in Antioquia there are 216,000 (13.8%), and in Valle del Cauca there are 139,000 (8.9%). By sector, the services sector is the one with the most companies: 41.9% between January and July 2024, with a total of 653,000 units.
The Ministry of Commerce, Industry and Tourism and Colombia Productiva, in alliance with Icontec, opened two new calls for the ‘Quality for Reindustrialization’ strategy. The aim is to provide specialized training and technical assistance so that companies adopt national and international quality standards.
The Ministry of Commerce, Industry and Tourism through iNNpulsa Colombia, Fontur, and in alliance with the Chambers of Commerce of Pereira, Barranquilla and Armenia, launch new calls for the FortaleSER program, aimed at selecting 1,520 productive units of the popular economy to access a complete support route to strengthen their business capacities.
The business capacities of 350 productive units in the Caribbean are strengthened
The Ministry of Commerce, Industry and Tourism through iNNpulsa Colombia and in alliance with the Chamber of Commerce of Cartagena, benefited 350 productive units in the retail trade, tourism, gastronomy and hairdressing sectors, in the municipalities of Bolívar, Sucre, Córdoba and La Guajira.
240 commercial establishments led by women victims of the conflict improved their business skills
Commercial establishments such as hairdressers, restaurants, bakeries, stationery stores and hardware stores, among others, were selected to participate in the project ‘Women and more productive businesses’, which supports 240 women victims of the armed conflict who are now owners of these micro-businesses.
MEIC and INDER launch virtual program for the development of agro-industrial MSMEs
Micro, small and medium-sized enterprises (MSMEs) in the agro-industrial sector in rural areas will have the opportunity to train for free to optimize their promotion, communication and competitiveness strategies, thanks to the virtual program “Marketing Development of Agro-industrial SMEs.
At the event PROMIPYME awarded RD$15 million to the winners to promote innovation projects.
The Vice President of the Republic together with the Minister of Industry and Commerce presided over the launch event of the innovation project “Emprendelab”, sponsored by PROMIPYME.
MICM inaugurated MSMES Route in Valverde
The MSMES Route is an activity that opens opportunities for entrepreneurs and businessmen to offer their products and innovations for three consecutive days, where they also receive training from various allied institutions.
First “STEM Forum: High-Impact Businesswomen”
The Government of El Salvador, through the National Commission for Micro and Small Enterprises (CONAMYPE) together with the Ministry of Tourism (MITUR), with the support of the Korean International Cooperation Agency (KOICA), the Salvadoran Agency for International Cooperation (ESCO), the Salvadoran Ministry of Foreign Affairs (RREE) and the United Nations Development Program (UNDP) held the first “STEM Forum (Science, Technology, Engineering and Mathematics): High-Impact Businesswomen”.
383 Loan Guarantees, Valued $4.85 Billion Issued under DBJ’S CEF
A total of 383 loan guarantees, valued at $4.85 billion, were issued under the Development Bank of Jamaica (DBJ) Credit Enhancement Facility (CEF) over the past year, enabling micro, small and medium-sized enterprises to scale up their operations.
130 MSMEs Benefit from Procurement Readiness Training
A total of 130 micro, small and medium-sized enterprises (MSMEs) recently benefited from training to bolster their capacity to compete for public-sector contracts.
JBDC Served 2,711 MSME Clients in 2023
The Jamaica Business Development Corporation (JBDC) served 2,711 clients from the micro, small and medium-sized enterprise (MSME) sector in 2023 representing various industries.
57 Additional Companies Onboarded Under JAMPRO’s Export Max Programme
Fifty-seven companies have been onboarded under phase four of the Jamaica Promotions Corporation (JAMPRO) EXPORT MAX Programme. The entities are slated to benefit from capacity development, export promotion, mentorship and advocacy over a two-year period.
Successful opening of the first edition of the Business Roundtable “SMEs in the value chains”
The Ministry of Economy, together with the Business Coordinating Council (CCE), US-Mexico CEO Dialogue, GE HealthCare and the Chamber of the Transformation Industry of Nuevo León (Caintra), inaugurated the first edition of the Business Roundtable “SMEs in the value chains: High Technology Medical Devices”, with the participation of micro, small and medium-sized supplier companies that seek to establish relationships with leading companies in the sector.
Ampyme strengthens its agreement with the Puertas Abiertas Foundation
The Cooperation and Technical Assistance Agreement between Ampyme and the Puertas Abiertas Foundation reaffirms the joint commitment to promote young entrepreneurs in the arts and film sectors.
The Micro, Small and Medium Enterprise Authority (Ampyme) and the Office of the First Lady, carried out a training aimed at entrepreneurs in Chiriquí, with the aim of providing them with tools for the growth of their businesses and economic development of the country.
This agreement will offer access to specialized courses in digital and business skills, which will be promoted through the official Ampyme platform.
National MSME Forum 2024: “Connecting innovation, growth and opportunities
On September 18 and 19, 2024, authorities and representatives of public and private institutions, together with experts in finance, economics, exports, business development, digitalization, public policies, among other topics of general interest, will meet at the 2024 edition of the National MSME Forum on MSMEs, the Productive Force of Paraguay.
More from Gs. 4,000 million in business roundtable
A total of 86 organizations participated in the Business Roundtable for MSMEs and Family Agriculture, in the department of Cordillera. Of this total, 54 were producers and 32 were microenterprises.
MIC leads initiatives to expand the financial inclusion of MSMEs and entrepreneurs
The Vice Ministry of MSMEs is implementing actions such as alternative financing mechanisms, simplification of procedures and strategic alliances to promote the financial inclusion of microenterprises.
Alliance with brokerage houses seeks to enhance financial tools in favor of MSMEs
With this agreement between the Vice Ministry and the brokerage houses, the aim is to facilitate the access of Micro, small and medium-sized enterprises to financing, investment, access to credit, while promoting training, technical assistance, advice and business development. It will also promote research, innovation, and the adoption of technologies in MSMEs. Likewise, with the agreement, proposals of interest, programs or projects to be executed by both parties within the field of support and cooperation will be prepared by mutual agreement.
PCM 2023 begins delivery of capital goods to winning MSMEs
The winning MSMEs were rigorously selected, by jury, and are benefited with capital goods, and two years of advice from technicians from the Ministry of Industry and Commerce.
Zero Hunger Program Launches, a Broad Market for MSMEs
During the announcement of the official launch of the Zero Hunger Program in schools, the Vice Minister of MSMEs highlighted the identification of some 90,000 micro, small and medium-sized enterprises, which could become suppliers of products and services to the companies that have been awarded contracts to supply schools.
Strategic alliance to promote the formalization and training of microentrepreneurs
The Vice Ministry of MSMEs and the College of Accountants work together to support MSMEs in their comprehensive development with guided training that guides them and helps them in their growth. This program seeks to cover the entire national territory, initially benefiting some 50,000 microentrepreneurs.
Paraguay receives 1,000 scholarships for training SMEs in e-commerce
This is an unprecedented collaboration with an approximate value of USD 250,000 each, which means a total of USD 2,500,000 in training and courses aimed at enabling microenterprises to take advantage of all digital tools and learn how the world of e-commerce works.
Tu Empresa Program plans to formalize more than 58,000 MSMEs by the end of 2024
With the aim of promoting and strengthening business formalization through the deployment of Business Development Centers (CDEs) in the country, the Ministry of Production (PRODUCE), through the National Tu Empresa Program, signed a framework agreement for inter-institutional cooperation with the Board of Deans of the College of Notaries of Peru.
The application process for MSMEs in the textile sector to access State purchases begins
The Ministry of Production announced the beginning of the period to receive proposals, both physically and virtually, for micro and small businesses (MSMEs) in the textile-clothing sector interested in participating in the call for the National Program for Purchases from MSMEs. The acquisition processes managed by Purchases from MSMEs include key factors for the selection of MSMEs such as productivity, competitiveness, innovation, training, and formalization.
Point-of-sale machines for local MSMEs
The Ministry of Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs, in collaboration with the Organization of American States (OAS), will distribute additional point-of-sale machines to Micro-, Small and Medium-sized Enterprises (MSMEs).
This OAS-funded project encourages small businesses to integrate e-commerce capabilities into their mainstream operations.
Youth Entrepreneur Summer Camp ends
The future is bright for the next generation of entrepreneurs. That was the general sentiment expressed when sixty-eight students from Fond St. Jacques completed a three-week Youth Entrepreneur Summer Camp.
Small businesses capture larger share of the economic pie amidst unprecedented investment, SME numbers soar.
Gov’t effort to expand private sector participation producing results. the Ministry of Finance reports a 58% increase in small and medium-sized enterprises (SMEs) between 2017 and 2020. With the help of targeted investments to grow the sector, an additional 13,986 SMEs have opened their doors, increasing economic activity and creating new jobs in the process.
SBA and Dept. of Veterans Affairs Join Forces to Promote Veteran Entrepreneurship
New Agreement Formalizes Collaboration on Nationwide Trainings. Signing of a memorandum of understanding (MOU) between the SBA’s Office of Veterans Business Development (OVBD) and the U.S. Department of Veterans Affairs (VA) Veterans Benefits Administration (VBA). This partnership between OVBD and VBA will improve access to self-employment assistance and SBA training and counseling for active-duty service members and service-disabled veterans participating in the Veteran Readiness & Employment Program (VR&E), also known as Chapter 31. The MOU will run through June 17, 2028.
SBA Loan Programs to New Green Lenders to Help Small Businesses Meet Climate Goals
Initiative will Advance Clean Energy Transition Across the Nation. SBA announce new Green Lender Initiative to enroll additional climate lenders in SBA’s loan programs. The initiative will employ SBA loan guarantees to attract additional private capital in support of clean energy investments spurred by the Inflation Reduction Act.
State Government Agencies Will Apply Funds to Provide Critical Training to Combat Cyber Threats. SBA announced $3 million in new funding(Link is external) under the Cybersecurity for Small Businesses Pilot Program. Three grants will be awarded to state agencies to provide training, counseling, and other tailored cybersecurity services for startups and emerging entrepreneurs.
SBA Opens Nominations for 2025 National Small Business Week Awards
For more than 60 years the SBA has been uplifting small businesses in America, and the annual NSBW awards recognize the exemplary achievements, triumphs, contributions, and resilience of SBA-assisted individuals and businesses that help to drive the American economy.
SBA Announces Agreement with Indian Government to Promote American Small Businesses Internationally
SBA announced a new memorandum of understanding (MOU) between the SBA and the Republic of India’s Ministry of Micro, Small and Medium Enterprises (MSMEs) to strengthen the two countries’ joint work to promote MSME participation in the global marketplace. The agreement signed in New Delhi on August 13, is the SBA’s first such collaboration with India.
SBA Announces $7 Million in PRIME Grants to Serve Low-Income Microentrepreneurs
28 Grants Will Support Training, Program Development to Increase Access to Capital and Grow Businesses. SBA announced 28 awardees for the 2024 Program for Investment in Microentrepreneurs (PRIME) grant awards, totaling $7 million.
Administrator Guzman Meets with Business Owners and Leaders to Discuss Latino Entrepreneurship, Women Entrepreneurship, and Exporting. SBA Administrator traveled to Puerto Rico to participate in the Global Entrepreneurship Conference, visit small business visits, and engage in dialogue about promoting entrepreneurship in Puerto Rico and across the Western Hemisphere.
First Forum for SMEs in Uruguay: Public-private dialogue for the construction of proposals
The forum is organized by the Ministry of Industry, Energy and Mining, through its National Directorate of Crafts, Small and Medium Enterprises (Dinapyme), together with the Chamber of Industries of Uruguay (CIU). It will be a one day meeting between the institutions that make up the ecosystem for the promotion of micro, small and medium-sized enterprises (SMEs) and will address four central themes for business competitiveness: Technological-productive factors, the domestic market, exports and regulations. The agreed points will be compiled in a commitment document.
Public and private sectors have agreed to encourage MSMEs in forum organized by the MIEM and the CIU
The Ministry of Industry, Energy and Mining and the Cámara de Industrias del Uruguay (CIU) organized the Primer Forum Mipyme Uruguay; a public-private dialogue for the construction of properties, in which representatives of both sectors participate.
