Impulsa tu Empresa 2.0

ITE 2.0 will assist 825 businesses in Guatemala, Honduras, and Nicaragua. The three year program is expected to increase sales by more than 30%, equivalent to $41 million, and create more than 800 new jobs in different economic sectors.

Context

Small and medium-sized enterprises (SMEs) are important drivers of economic growth and stability. In developed countries, the entrepreneurs behind these businesses contribute more than half of the gross domestic product (GDP) and employment. At the same time, SMEs in emerging economies usually lack access to the networks and knowledge necessary to grow or contribute to their countries’ economies, where in many cases, SMEs generate less than 20 percent of employment and GDP.

Opportunity

Impulsa tu Empresa (ITE), is a business accelerator that aims to provide tools and knowledge that contribute to the sustainable growth of SMEs in the Central American region. Since 2012, TechnoServe has fostered the growth of small and medium enterprises in Nicaragua, Honduras, Guatemala, and El Salvador. To this end, TechnoServe has designed a regional entrepreneurship program, ITE. The ITE program starts a new call to support 825 new companies focused on its growth and success in Honduras, Nicaragua, and Guatemala.

For more information, please contact Oscar Artiga, Central America Entrepreneurship Program Director at oartiga@tns.org.

Strategy

1. SGBs’ Business Management Skills Strengthened: the first output will provide business management and strategy skills to participating entrepreneurs through two phases: 1) Business Model Training phase and, 2) an Aftercare phase for those SGBs with attractive business growth prospects and demonstrated commitment to the program — approximately half of the of SGBs trained.
2. Market Linkages Expanded: this output will improve SGB’s offer and interaction with customers and suppliers. The program will work on improving the businesses’ offerings by securing a reliable, homogeneous, and timely production, while helping participants improve marketing and negotiation skills. Finally, it will create opportunities where SGBs can offer their products and services to customers, including anchor firms, fellow SGBs, and the general public.
3. SGBs’ Investment Growth Increased: this output encourages SGBs to invest in growth by improving their financial analytical skills ,accurately valuing their company and their debt capacity, as well as analysing whether to search for external financing or develop a growth strategy based on operational savings.

Results

The program has assisted more than 1,600 businesses in the region; increased sales on average by 33 percent; created 1,600 new jobs; facilitated access to 150 credits for more than $5.46 million; and expanded participants’ market options.

Partners

Founded in 1966, the Argidius Foundation works to catalyze economic growth in West Africa, Central America, and Eastern Europe by providing financial support for projects focusing on employment creation for low income populations.