In the first five months of 2012, 4.271 new company registrations were received.
A press release from the Ministry of Economy and Finance in Panama reads:
The Authority for Micro, Small and Medium Enterprises (AMPYME) reported that in the first five months of 2012, 4.271 new company records were received, highlights a report from the Economic and Social Analysis Unit of the Ministry of Economy and Finance (MEF), according to figures provided by AMPYME.
The cuts foreseen in fiscal year 2013 will affect the Ministry of Labour, the Public Registry, Customs Authorities, Government Innovation and Small and Medium Enterprises.
For Micro, Small and Medium Enterprises (Ampyme) the cuts amount to $33 million, leaving only $22 million for investment and operation.
$14 million will be cut from the budget for the Ministry of Labor and Workforce Development (Mitradel) and $50 million for the National Customs Authority (ANA) and finally a million for the Public Registry.
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.
The AMPYME has given the Latin American Confederation of Credit Unions (COLAC) administration of the trust FIDEMICRO-OPORTUNIDAD.
The Panamanian Authority for Micro, Small and Medium Enterprises (AMPYME) has awarded to COLAC the administration of a $13 million trust, called FIDEMICRO-OPORTUNIDAD, which aims to support over 6,500 micro and small enterprises.
The show, organized by the Panamanian Micro, Small and Medium Sized Enterprise Authority (AMPyME in Spanish), will be held on 1 and 2 of September in the Atlapa Conference Center.
The idea of the show is to gather under one roof as many financial institutions as possible with products for the MSME sector with the aim of providing small companies with the support they need to develop their businesses.
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.
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.
Panama's small business authority, Ampyme, aims to award businesses seed capital of US$500 and US$1,000, and it plans to follow up on what recipients do with the money.
The aim is to help small entrepreneurs, especially among the poor and in slum areas. Ampyme has assigned US$1 million for the program.
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