As a result of the economic crisis generated by the pandemic, it is estimated that four out of every five Central American companies were forced to increase their debts in order to sustain their operations.
According to the 2021 Regional Survey on economic reactivation prepared by the Federation of Chambers of Commerce of the Central American Isthmus (Fecamco), the resources obtained through indebtedness, served the companies to pay payroll, face rents and support operations.
Companies with teams dedicated to innovation, organizational structures that allow for agile decision making and that quickly migrated to teleworking, are those that have best adapted to the new commercial reality.
The pandemic brought about a scenario of changes in the business models, the companies had to apply radical changes in an accelerated way in order to successfully face the challenges represented by the changes in people's habits.
Due to the economic crisis, it is expected that during 2021 the number of business alliances and company sales will increase, especially in the most damaged sectors, such as tourism, hotels, restaurants, entertainment, education and real estate.
The restrictions imposed by the governments of the region due to the covid-19 outbreak, has generated economic losses in most of the productive sectors, including reported business closures and increases in unemployment levels.
In the context of the economic crisis, it is estimated that companies in Central America have reduced the working hours of employees to an average of 32 hours per week.
As a result of the spread of covid-19 in the countries of the region and the imposition of strict home quarantines, demand for products and services has fallen considerably in most markets.
Making safety and hygiene protocols visible, communicating the cases of covid-19 of its personnel and applying technology in processes to generate trust among its clients are some of the changes that companies must apply in this new business context.
The health emergency and the economic crisis resulting from the covid-19 outbreak changed everything at a global level.
After the first case of covid-19 was reported in the country, the private sector is asking authorities to close the borders partially or completely and to have people entering the nation examined and quarantined if necessary.
Jose Adan Aguerri, president of the Superior Council of Private Enterprise (COSEP), explained that among the measures taken by the companies for this emergency is the creation of a critical department so that the companies that the staff is working in three different places in case any of them is affected, have guns to measure the temperature of customers who come to the company and not allow them to enter with fever.
Identifying critical business needs and setting up plans on how to maintain supplies and operations, as well as establishing communication channels with suppliers to be informed in case of any eventuality, are part of the advice for companies.
The coronavirus has already affected the world economy, and its effects do not seem to stop. With countries in quarantine, financial markets in the black and international trade diminished, the economic outlook is not very encouraging, explains a document from the Guatemalan exporters' union.
In a context in which the creation of digital records is increasing, investment in data analysis, technology and personnel becomes fundamental and essential to ensure the best possible performance in companies.
Advanced Analytics (AA), which can be executed from data from digital platforms, wireless sensors and millions of mobile phones, is transforming competition across multiple sectors by generating opportunities to capture value from improved decision making and comprehensive business transformation.
Both companies announced an agreement for La Estancia, Guatemalan and Ecuadorian capital, to acquire a stake in the Panamanian company Toledano.
La Estancia, a company that will have a stake in Toledano, is a consortium born from the merger of Procesadora Nacional de Alimentos C.A. (Pronaca), headquartered in Quito, Ecuador, and Corporación Multi Inversiones (CMI), in Guatemala City.
The difficulties in identifying staff training needs and the lack of a clear relationship between new employee skills and incentives diminishes the possibility of achieving company goals.
According to the Deloitte 2019 Global Study of Human Capital Trends, in which more than 9,400 business leaders from around the world participated, including 261 from Costa Rica, the learning of business staff is the most relevant trend.
Understanding which are the main and relevant data that must be managed in a company and how to protect them in digital format is fundamental for the expansion of a company.
Representatives of Costa Rican technology companies WIC, Innovamars, ATTI Cyberlabs and Grupo Inco, agree that organizations are facing challenges arising from the digital transformations they must make to continue growing.
The company reported that it signed an agreement with Millicom S.A. for the sale of all shares of Telefonica Costa Rica, Nicaragua and Panama, closing the transaction at $1.65 billion.
After the company reported in late January 2019 that for $648 million it had agreed to sell to America Móvil all the shares of Telefonica Guatemala and 99.3% of Telefonica El Salvador, it now announced that it had completed the sale process of the entire operation in Central America.
The very low-cost system that allows people to tele transport from one place to another will have to pay an additional fee to subsidize the old motorized transport system called taxi.
EDITORIAL
Jorge Cobas Gonzalez
Founder of CentralAmericaData
(A glimpse into the future...)
In this year 2119, the digital application Teletrans, already widely spread all over the world, is installed on the cell phone and allows the person holding it in the hand to indicate on the map the place to go, transporting it almost instantaneously to that destination. The cost of the trip is one cent of a dollar per kilometer, paid through the global system of digital money.
The company reported that it sold all the shares of Telefónica Guatemala and 99.3% of Telefónica El Salvador to América Móvil for $648 million.
The Spanish company stated that the closing of the sale of Telefónica Guatemala took place on January 24, however, the sale of Telefónica El Salvador is subject to the relevant regulatory conditions.
Regarding the announcement of the purchase of Telefónica El Salvador, the Superintendence of Competition (SC) of that country informed that until January 25, 2019, it had not received any request for authorization from América Móvil for the purchase of Telefónica de El Salvador.
The Spanish company Telefónica S.A. informed that it is in a negotiation process to sell its assets in the region.
The European company, with subsidiaries in El Salvador, Guatemala, Costa Rica, Nicaragua and Panama, explained that the sale of its assets in the region "could result in a transaction, both for the total and for some of those assets."
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...