Micro, small, and medium enterprises (MSMEs) are paramount to the success of Latin American economies. In Guatemala, for example, MSMEs employ 4.5 million people, while Honduras boasts more than 127,000 MSMEs. In other countries, such as Costa Rica, they represent 94% of current businesses. Despite their significant impact on the economy of these countries, MSMEs continue to face challenges, such as difficulty obtaining credit or a series of constraints linked to public administration (e.g. heavy bureaucratic procedures which may impede the founding of new companies).
The overall objective of the project was to promote entrepreneurship and improve the competitiveness of the private sector (in particular MSMEs) in Central America, with a focus on the framework of regional and international trade. Project results included:
- Improvement of competitiveness and internationalization of Central American MSMEs.
- Promotion of regional entrepreneurship.
- Strengthening of the regional institutional framework for MSME development, both in the public and private sectors.
OUR GOALS AND RESULTS
DT Global worked closely with the regional center for the promotion of Micro, Small and Medium sized Enterprises (CENPROMYPE) by providing training to its employees in multiple areas, including budget alleviation. The project supported several MSMEs in their process of internationalization and has further promoted a friendlier entrepreneurship environment in the region.