Asunción, Agencia IP.- To improve opportunities and expand programs dedicated exclusively to the MSME ecosystem, such as the Small Business Development Center (SBDC) model, a Paraguayan delegation led by the head of the Ministry of Industry and Commerce (MIC), Javier Giménez, and the Deputy Minister of MSMEs, Gustavo Giménez, will embark on a trade mission to the United States.
The Paraguayan visit will take place from July 9 to 12, during which the authorities will hold meetings with members of the United States International Development Finance Corporation (DFC), representatives of the OAS, members of the U.S. Chamber of Commerce, as well as legislators from the Senate Committee on Small Business and Entrepreneurship, the House Small Business Committee, and members of the Small Business Administration (SBA), among other institutions.
The Paraguayan delegation also includes technicians from the Vice Ministry of MSMEs, representatives from other state entities, and members of private business associations.
SBDC Paraguay business development centers
Currently, there are 278 SBDC centers established in 24 countries around the world, including Paraguay. These centers have created over 6,000 businesses and 23,000 jobs and increased sales and formalization of assisted businesses.
In Paraguay, there are three Business Development Centers operating thanks to the support of USAID and TaiwanICDF. The SBDCs are located in Central, Itapúa, and Alto Paraná, with plans to expand to other departments to provide national MSMEs greater access to these centers, which offer support and technical assistance.
The creation of these SBDC Development Centers aims to enhance the capacity of the Paraguayan government to promote a new model of support for the development of small businesses.
Deputy Minister of MSMEs Gustavo Giménez discussed the efforts undertaken by the Vice Ministry of MSMEs to position and strengthen this economic sector by simplifying the formalization process and offering credit options with state guarantees.
«We want to provide a significant market for MSMEs, as the state is Paraguay’s largest buyer, reserving 20% of the market for them,» he stated.
He highlighted that 16% of the financial system’s portfolio is allocated to MSMEs and that 70% of these businesses do not have a bank account. «We are working with the Central Bank to facilitate the electronic opening of bank accounts, promoting financial inclusion,» he affirmed.