New Report: Empowering Inclusivity – A Roadmap for Unlocking the Economic Potential of MSMEs in Colombia
New Report: Empowering Inclusivity – A Roadmap for Unlocking the Economic Potential of MSMEs in Colombia
December 19, 2023 | Building Markets
In this comprehensive overview of MSMEs in Colombia, we take a look at the barriers they face, specifically examining the needs of migrant-owned small businesses and internally displaced persons engaged in entrepreneurship. In Colombia, MSMEs make up 79% of employment opportunities and 40% of the national GDP, yet they face key challenges like access to finance and digitalization that hinder their growth.
Given these challenges, businesses need support in order to rise. While some business support exists, we recommend bolstering six key areas for a more comprehensive and impactful experience for small business leaders.
1. Digital transformation and innovation
2. Sustainability
3. Training in project formulation and structuring to access tenders and calls for proposals
4. Digital tools for market access
5. Internationalization Matchmaking
6. Access to Finance
Read the report to learn more about the small business ecosystem in Colombia and how we can all help create inclusive economies that work for all.
Download this report: ENGLISH