In addition to non-reimbursable funds, Panamanian entrepreneurs will receive technical assistance for elaborating business plans.
Congress is discussing Law 35, which comprises the creation of the Entrepreneurship Fostering Fund. This includes a Seed Capital trust fund, and resources for Technical Assistance, Guarantees and Micro-credit.
Micro, Small and Medium Enterprises will have easier access to credit with the new law.
Giselle de Calcagno, head of AMYPYME (Micro, Small and Medium Enteprises Authority), stated that "the project will foster the creation of a micro credit banking industry. The idea is for the state to invest in a second tier banking fund, so entrepreneurs have easier access to credit", reported Laestrella.com.pa.
A novel program gives business training to SMEs in Panama, awarding working capital prizes to the best 100.
420 entrepreneurs will receive courses of 40 hours a week in 16 mobile units from the SMEs authority, also known as Ampyme. These units are equipped with machinery and their respective training and coaching staff.
The Panamanian government is allocating this amount to the development of micro and small businesses involving 546,412 establishments on the national level.
Giselle Calcagno, Minster of the Micro, Small, and Medium Business Authority (AMPYME, acronym in Spanish) commented that the fund is designated for seed capital, micro-credit, collateral funds, and for technical training and assistance.
The 75% reduction of the flat rate will be applied to micro- and small-businesses that invoice less than $500,000 per year.
This measure will be enacted by President-elect Ricardo Martinelli in his first 100 days in government, and it entails applying tiered discounts of up to 75% of the flat rate paid by businesses that invoice less than $500,000 annually.
According to the Union of Small and Medium-Sized Businesses (PyMEs), the new migratory law has made the country less competitive for the small investor.
The new law, which was approved in February, increased the total of the minimum investment from $40,000 to $160,000.
ADN.es publishes comments by Ramón Arroyave, president of the Union of PyMEs, "we have regressed to being less competitive. Capital is being placed in countries like Costa Rica and El Salvador, which creates sources of employment that could be generated here."
Xpand Group offers to its clients global support in exports. With its network, the company gives access to small and medium enterprises to new markets such as: North America, Central America & Europe
Operates in El Salvador, Costa Rica, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 2225-0435 - (506) 2524 2800
The firm currently provides services to individual and corporate clients in Panama as well in the Americas, Europe and Asia. Its partners maintain a commitment with professional ethics and social responsibility by participating in the board of directors of groups such as the Panama Bar Association, the German Chamber of Commerce and the American Chamber of Commerce (AMCHAM) of Panama.
Operates in Panama
Phone: (507) 3406447
More than a Law Firm. Lex Counsel & Co. is a business ally, an integral adviser and a support team for all our client’s needs. We established our firm to offer high quality services both at national and international level, under a renewed professional proposal, endorsed on standards that guarantee options abilities, personal and permanent contact and quality results on every transaction we intervene.
Operates in Panama
Phone: (507) 366 6400 - (507) 366 6401