{"id":133692,"date":"2023-04-05T00:00:00","date_gmt":"2023-04-05T05:00:00","guid":{"rendered":"https:\/\/selasite.azurewebsites.net\/sela-reiterates-need-to-promote-public-policies-to-strengthen-development-of-msmes-in-the-region\/"},"modified":"2023-11-21T12:57:09","modified_gmt":"2023-11-21T17:57:09","slug":"sela-reiterates-need-to-promote-public-policies-to-strengthen-development-of-msmes-in-the-region","status":"publish","type":"post","link":"https:\/\/rmtsolutions.net\/sela\/en\/sela-reiterates-need-to-promote-public-policies-to-strengthen-development-of-msmes-in-the-region\/","title":{"rendered":"SELA reiterates need to promote public policies to strengthen development of MSMEs in the region"},"content":{"rendered":"

The Latin American and Caribbean Economic System (SELA) held the Seminar: Business acceleration mechanisms: Supporting the development of MSMEs in Latin America and the Caribbean<\/a>, where it presented the economic growth scenarios and their impact on MSMEs in the region. The Permanent Secretary of SELA, Ambassador Clarems Endara, highlighted the need to strengthen the production capacity of the entrepreneurial ecosystem in the region by promoting public policies.<\/p>\n

\u201cThe work agenda aimed at MSMEs must focus on innovation and new public policies that stimulate the development and growth of startups and already established companies that seek to strengthen and improve their production capacity,\u201d the Permanent Secretary said.<\/p>\n

He underlined that in 2022 Latin America and the Caribbean experienced a major reopening with respect to both internal and external constraints brought about by the COVID-19 pandemic, which led to much faster growth for smaller companies in the region compared to previous years.<\/p>\n

\u201cHowever, the performance of the economy was dissimilar during the first and second half of the year, and in fact the growth of sectors such as manufacturing, wholesale and retail trade and the services sector had heterogeneous results,\u201d he added.<\/p>\n

Hence the need to promote the implementation of assistance programmes for MSMEs that include variables such as business incubation and acceleration. \u201cIn this way, business acceleration and incubation programmes play a decisive role in building capacities and implementing and improving tools for the businessman or entrepreneur, making it easier to obtain financing and providing more long-term expectations for the life cycle of a company, thus boosting the reactivation of the regional economy,\u201d the Permanent Secretary pointed out.<\/p>\n