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MSME Clearinghouse: Newsletter |
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COVID-19 Policy Responses (as of July 21, 2020): |
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This is the fifth special edition of the OAS MSME Newsletter dedicated to measures recently announced by OAS Member States to mitigate the economic
impact of the COVID-19 pandemic on micro, small and medium-sized enterprises (MSMEs). As we highlighted in the first edition of March 31, 2020, the
policy responses vary from country to country and are specific to the economic circumstances and public health of each Member State. Given that every
day produces new developments, this fifth inventory is in no way exhaustive.
Argentina
Categories have been updated to be MSMEs
The annual billing limits of all sectors were raised so that MSMEs can obtain their certificate and access financing, benefits, and assistance programs.
Barbados
MSMEs in line for series of policies
A raft of several major initiatives are to be rolled out to boost micro, small and medium-sized enterprises (MSMEs) while bringing more of them into
the formal economy.
Canada
Shopify, Canadian Government Launches Initiative to Help Small Businesses Grow Online Amid COVID-19
Shopify has partnered with the federal government to launch a new initiative called Go Digital Canada, aimed to bring more Canadian small businesses
online and support them in the new era of digital transformation brought about by the COVID-19 pandemic.
COVID-19 has changed how Canadians spend at small businesses: Sales remain perilously low
New data shows payment methods at small businesses have shifted away from cash toward electronic options like credit, debit and Interac e-Transfer®.
Despite this shift, sales remain concerningly low for this time of year, according to the latest data on the Canadian Federation of Independent Business
(CFIB)'s Small Business Recovery Dashboard.
Chile
Todo por las PYMEs
Website of the Government of Chile where users find everything they are looking for and support SMEs in Chile.
Colombia
Fenalco launches a line of credit for microentrepreneurs, small merchants and independents with Fintech and Banco Caja Social
The credit line, with an initial amount of 60 billion pesos, is geared towards working capital needs for this new stage of reopening and reactivation.
Guarantees for a trillion pesos for MSMEs in the restaurant, entertainment and accommodation sectors affected by COVID-19
The National Guarantee Fund (FNG) gives new support to micro, small and medium-sized enterprises (MSMEs) with the creation of the line
"Sectors most affected by MSMEs," which aims to guarantee loans so that companies assume the expenses of personnel, fixed costs and other
resources that they require to continue operating.
More than 93% of companies registered in 'Internationalization Factories' are MSMEs
For this year, the goal of companies enrolled in the program was 400 and this initial stage was closed with 904 registered companies. Of
those registered, the majority (276) are in the fashion system sector. Agri-food follows with 256.
Dominican Republic
MICM offers MSMEs a self-diagnosis tool to detect possible opportunities for improvement
The Ministry of Industry, Commerce and MSMEs (MICM) made available to MSMEs a self-diagnosis tool "Innovation Radar"which helps to detect possible
opportunities for improvement in any of the ten dimensions evaluated.
El Salvador
Funds for MSMEs available in July
The president of the National Commission for Micro and Small Enterprises (CONAMYPE) released details of the loan provided by the European Union called “Dynamics 2”.
These funds, totaling $ 350 million, will be awarded to alleviate the liquidity crisis that MSMEs in the Central American Integration System region are facing
due to the effects caused by the COVID-19 pandemic.
Jamaica
Government Supporting Farmers During COVID-19
The Ministry for Industry, Commerce, Agriculture and Fisheries indicated that the Government is committed to supporting farmers during the coronavirus
(COVID-19) pandemic and safeguard the country’s food security. Among the initiatives implemented there is a $240 million stimulus package to purchase
excess fruits and vegetables from those farmers, who lost their markets, largely due to the closure of hotels as a result of the pandemic.
Paraguay
Portal designed to help entrepreneurs and MSMEs mitigate the impact of COVID-19 on their activity. All the measures that are being implemented to help
entrepreneurs and Paraguayan MSMEs that are managed by the Ministry of Industry and Commerce are collected.
Electronic Commerce and Virtual Education (Technological Solutions): It includes technology solutions available to entrepreneurs and MSMEs aimed at
maintaining their activity and advancing their digital transformation processes, with special attention to productivity and telework solutions to
mitigate the impact of the crisis caused by COVID-19.
Tax measures: It includes tax and administrative measures available to entrepreneurs and MSMEs to mitigate the impact of the crisis caused by COVID-19.
Financial support to MSMEs
Labor measures: It includes measures related to the labor sector available to entrepreneurs and MSMEs to mitigate the impact of the crisis caused by COVID-19.
Financial Solutions: It includes different financing instruments available to entrepreneurs and MSMEs to promote the generation or re-adaptation of
financial products by Intermediary Financial Institutions (IFIs), financial products or other services to mitigate the loss of cash flow and made available
directly to the public to mitigate the impact of the crisis caused by COVID-19.
COVID-19: Measures implemented by the National Government of Paraguay in the fight against the Covid-19 pandemic.
Peru
Program “Turismo Emprende” call for applications
Call for application to the Program “Turismo Emprende” that will deliver S / 51.4 million in November to nearly 600 tourism entrepreneurs; specifically micro
and small entrepreneurs who provide accommodation, food (restaurants), travel and tourism agencies, and artisans, among others. This action is part of the
government's package of measures for the economic reactivation of the Tourism sector.
Saint Lucia
Saint Lucia’s economic recovery budget is $579 million
St. Vincent and the Grenadines
St Vincent and the Grenadines 'Stimulus Package' reaching those most in need
The Bahamas
SBDC reaches one million in disbursements to small businesses
The Access Accelerator, Small Business Development Centre (SBDC) has facilitated the disbursement of over one million dollars to Bahamian micro, small
and medium-sized enterprises (MSMEs) and is on target to provide an additional one million dollars to ten other entrepreneurs before its tuns one
this September.
United States
SBA Provided $20 Billion to Small Businesses and Non-Profits Through the Economic Injury Disaster Loan Advance Program
The U.S. Small Business Administration announced the conclusion and success of the Economic Injury Disaster Loan (EIDL) Advance program,
which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding. In order to
assist the greatest number of small businesses, the EIDL Advance provided $1,000 per employee up to a maximum of $10,000. Recipients
did not have to be approved for a loan to receive the Advance, and the Advance provided an interim but vital source of funds while
applicants awaited a decision on their loan application.
International and Regional Organizations
The Development Bank of Latin America (CAF)
The Development Bank of Latin America (CAF) ratifies its commitment to Mexican SMEs.
Through a credit line granted by CAF to benefit the Special Fund for Agricultural Financing (FEFA), approximately 731 SMEs in the agricultural
sector have benefited throughout the country, with credits that add up to 1,375.2 million pesos.
InBIA: La Idea Incubation Program
The La Idea Incubation Program is a collaboration between the International Business Incubation Association (InBIA) and the Regional Center
for the Promotion of MSMEs (CENPROMYPE).
Financed and promoted by the United States Department of State, the La Idea Incubation Program is a powerful initiative focused on promoting
entrepreneurship and job creation in Western Hemisphere countries, fundamentally through the promotion of commercial exchange between Central
America and the United States.
OECS-Caribbean
14 Entrepreneurs to Start the OECS-Caribbean Export Coaching Programme
The OECS-Caribbean Export Development Agency’s Technical Assistance and Coaching Programme launched on July 8, 2020 with the aim of strengthening
the entrepreneurial and leadership skills of 14 selected young entrepreneurs from six countries of the Eastern Caribbean.
Pacific Alliance
Public/Private Dialogue on innovation as the main instrument for generating productivity and competitiveness of SMEs in the Pacific Alliance.
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