Micro, Small and Medium businesses drive employment in Central America
The labor panorama in CA indicates that the main generator of employment are the micro businesses that carry out non-agricultural activities.
Thursday, November 6, 2008
Based on reports from Costa Rican analyst, Juan Diego Trejos, almost 50% of employment is concentrated in "low production, non-agricultural activities," that is, self-owned businesses, companies with less that 10 employees; in most cases these are informal companies.
Over 50% of SMEs fail before they are three years old, 90% are no more than five years old and only 10% survive.
The Wordl Bank project supports the update of the Government’s Poverty Reduction Strategy under the National Human Development Plan, which has an emphasis on private sector development.
Mini and small business persons on the West side of the country are organizing to expand their activities to other markets.
Micro, small and medium sized enterprises have asked the government to create financing incentives.
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