Panama Passes New MSMEs Law

Micro, Small and Medium Enterprises will have easier access to credit with the new law.

Monday, November 2, 2009

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.



More on this topic

Why do SMEs fail?

March 2012

Over 50% of SMEs fail before they are three years old, 90% are no more than five years old and only 10% survive.

In the case of Nicaragua the subject is sensitive, "because 60 percent of its business backbone is made up of micro, small and medium enterprises, which account for 40 percent of gross domestic product (GDP), estimated at more than six billion dollars.

Panama to Host Regional Forum on MSMEs

December 2011

On December 14 in Panama City the regional forum under the theme "Entrepreneurship, Employment and Local Development" will take place.

The event will bring together representatives from countries in Central America and the Caribbean, and is sponsored by the Regional Centre for the Promotion of Micro and Small Enterprises in Central America.

10,300 New SMEs in Panama

August 2010

In the first seven months of the year 10,292 new micro, small and medium-sized enterprises (MSMEs) were registered, 126% more than in 2009.

Records held by the Panamanian MSME Authority (AMPyME in Spanish) show that most of the new companies were in the exports, services and agriculture sectors.

Taxes Reduced for SMEs in Panama

June 2009

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.

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