MSME Clearinghouse:  Newsletter

arrow OAS MSME Newsletter: (June 2021):
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.

Country Policy Responses

Antigua and Barbuda

Entrepreneurial Development Programme (EDP)

The Prime Minister’s Entrepreneurial Development Programme (EDP) is for the creation of new and existing business entities which generate revenues, employment and innovation, and is essential for the development of a vibrant micro and small business sector. The overall objective of the EDP is to provide an avenue for Antiguan and Barbudan ownership of a greater stake in the economy.

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The Ministry of Productive Development Allocates Funds

The Ministry of Productive Development allocates more than $ 131 million for development agencies and SME centers. The assistance seeks to strengthen 65 projects of local development agencies and SME service centers throughout the country. The Ministry of Productive Development announced the approval of an assistance of more than $ 131 million from the Regional Economies Competitiveness Program (PROCER) to strengthen 65 projects of local development agencies and SME service centers throughout the country that promote value chains in the industrial, agro-industrial and service sectors.

Government announced $ 3.000 million in loans for SMEs and the promotion of exports to Brazil

The Secretary of Small and Medium Enterprises and Entrepreneurs, together with the president of the Bank for Investment and Foreign Trade (BICE), and the Argentine ambassador to Brazil announced the expansion of $ 2,500 million of the credit line for productive investment of SMEs, the creation of a line for working capital for $ 500 million for SMEs that carry out or are about to carry out exports to the Federative Republic of Brazil and the expansion of the maximum amounts for loans in dollars with a subsidized rate for exporters.

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Sebrae dedicates the month of June to actions related to credit and the financial health of businesses

In addition to the launch of the Radar Financeira portal, there will be a series of events to address the main issues related to resource management in micro and small businesses.

Brazilian Craftsmanship Program opens official store at Mercado Livre

An unprecedented partnership between the federal government and the e-commerce platform seeks to promote skills and artisan products from all over Brazil.

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Launch of the Black Entrepreneurship Loan Fund

Black Canadian business owners and entrepreneurs make important contributions to the Canadian economy, yet they continue to face systemic barriers in starting and growing their businesses. This has been further exacerbated by the COVID-19 pandemic. The Government of Canada is working to address these long-standing, systemic barriers with its first-ever Black Entrepreneurship Program.

The loan fund is now a $291.3-million investment, with a $33.3-million investment from the Government of Canada, a $130-million commitment from BDC, and a $128-million joint commitment from the Royal Bank of Canada, BMO Financial Group, Scotiabank, CIBC, the National Bank of Canada, TD Bank, Vancity and Alterna Savings. FACE and the Government of Canada look forward to partnering with additional financial institutions to deliver the loan fund in the coming months.

Government of Canada Announces Details of the New Canada Recovery Hiring Program and Extension of Business Support Programs

The new Canada Recovery Hiring Program would be available retroactively to June 6, 2021. The proposed Canada Recovery Hiring Program would help hard-hit businesses hire the workers they need to recover and grow as local economies reopen. The program would provide a subsidy of up to 50 per cent of eligible salary or wages. It would be available to eligible employers who have experienced qualifying revenue declines so they can hire more workers, increase workers’ hours, or increase wages. This support would afford businesses with certainty that they can take on the extra costs needed to rehire and be ready to return to growth.

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207 entrepreneurs from Tarapacá benefited from Sercotec's FNDR Crece Elijo Pyme 1 Program

The pandemic has caused quarantines that involve an obvious drop in economic activity and in the Tarapacá region, entrepreneurs were forced to close their businesses for five months last year. Therefore, the Technical Cooperation Service (Sercotec Tarapacá) offered the Crece Elijo Pyme 1 Program to entrepreneurs, an initiative of Sercotec, financed by the Regional Government of Tarapacá and approved by the Regional Council through a Fund National Regional Development that was launched at the end of July.

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DYBT to Host the 26th Small Business Assistance Center

The Dominica Youth Business Trust will be hosting the twenty-sixth installment of the Small Business Assistance Facility Programme. The training is slated to run from June 7 to the 11th and this training will be done online.

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El Salvador

Amendments to the Law on Promotion, Protection and Development of Micro and Small Enterprises

The Government of El Salvador, through the Ministry of Economy (MINEC) and the National Commission for Micro and Small Enterprises (CONAMYPE), will present to the Legislative Assembly a request to amend the Law on Promotion, Protection and Development of MSMEs.

The reforms seek to modify the mechanism for the operation of the Entrepreneurship and Working Capital (FECAMYPE) and the Guarantee Program for Micro and Small Enterprises (PROGRAMYPE), as well as the strengthening of mechanisms for the faithful compliance of the Prompt Payment to the SMEs by public and private institutions.

Support to MSMEs to Accelerate their Business Models

The National Commission for Micro and Small Business (CONAMYPE), in alliance with Techno Serve, seeks to help Salvadoran SMEs through the business acceleration program called “Boost your business”. This program aims to support companies to increase their sales, implement strategic decisions and improve their profitability through networking, personalized advice, commercial links and business conferences.

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Ampyme Intensifies Support for Women Entrepreneurs, the Most Vulnerable Group in the Pandemic

As part of the actions for the recovery of the economy, the Micro, Small and Medium Enterprise Authority (Ampyme) has intensified its support for women entrepreneurs, who have been the group most affected by the loss of employment due to the pandemic. A National Strategy for Female Entrepreneurship is developed, which will include specific actions so that women entrepreneurs and businesswomen can have access to the financial system and the support provided by the National Government through Ampyme.

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National MSME Award 2021

It seeks to recognize and promote micro, small and medium-sized enterprises, with an interest in the proposed categories, that seek to encourage social responsibility taking into account the United Nations Sustainable Development Goals and need to grow in terms of formalization, industry, design and communication.

MSME Competitiveness Program (PCM) 2021

The Ministry of Industry and Commerce (MIC), through the Vice Ministry of MSMEs, invites micro, small and medium-sized industrial-type companies to present projects to improve competitiveness, to compete for a non-reimbursable fund in machinery, equipment and support business management technician for 2 years.

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SME Day: Produce approves operating regulations of the Business Emergency Program for S/ 64.6 million

Within the framework of the National SME Day, the Ministry of Production (Produce) announced the approval of the operating regulations of the Business Emergency Program, a non-refundable competitive fund of S / 64.6 million. This fund will benefit about 2000 micro, small and medium-sized enterprises and will have three modalities to be able to compete.

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United States

$2.7 Million for Women’s Business Center Resiliency and Recovery Demonstration Grant

The U.S. Small Business Administration (SBA), Office of Women’s Business Ownership (OWBO) is accepting applications for the Women's Business Centers (WBC) Resiliency and Recovery Demonstration Grant. The purpose of this opportunity is to continue or establish innovative projects that aim to improve service delivery, training, and support provided to women-owned businesses impacted by COVID-19.

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      International and Regional Organizations

Caribbean Export Development Agency

The Caribbean Export Development Agency (Caribbean Export) and the Caribbean Development Bank (CDB) in collaboration with the European Union (EU), have entered a partnership to support regional MSMEs with financial assistance to help businesses retool and preserve jobs.

Organization of American States

The OAS has partnered with WhatsApp Business to help support the economic recovery of the micro and small business sector in the Caribbean and Latin America. The OAS-WhatsApp Business Partnership for MSMEs, as part of the OAS MSME Digitalization Program, was launched this month with a Train-the-Trainers session for CARICOM countries that took place on June 11.



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