Impulsa Tu Empresa
Impulsa Tu Empresa aims to help small and growing businesses boost their growth through mentoring and business training. Since its launch in 2012, the program has increased the sales of over 1,500 businesses and helped create 1,600 new jobs in Guatemala, Honduras, El Salvador, Nicaragua, Colombia, and Burkina Faso.
Context
In developed countries, small and growing businesses (SGBs) contribute to more than half of gross domestic product and 57 percent of total employment; but in most cases in the developing world, SGBs account for only 16 percent of GDP and 18 percent of total employment. Entrepreneurs in the developing world have fewer models to emulate and face more obstacles than their counterparts in developed countries. For instance, SGBs often struggle with access to capital because they are considered too large for microfinance and too small for bank loans.
Opportunity
As proven sources of jobs, income opportunities, and key products and services, small and growing businesses can be engines of economic growth in their communities. By delivering the tools, information, and connections that SGBs need to overcome challenges, TechnoServe can fuel growth and unlock new opportunities for poor communities across the developing world.
Strategy
Impulsa Tu Empresa (“Boost Your Business”) is a business accelerator program that aims to help small and growing businesses fast-track their growth.
With support from the Argidius Foundation and Visa Foundation, as well as prior funding from the Multilateral Investment Fund, Walmart Foundation, Citi Foundation, and PIMCO Foundation, TechnoServe provides mentoring, connections to higher value markets, and access to capital to help high-potential SGBs develop, fund and implement business plans.
The program also promotes gender equality, job quality, and environmental sustainability through training in best gender practices such as building gender-balanced teams, development and training plans, and DOFA with an environmental focus. SGBs selected for support receive specialized training, followed by seven months of mentoring and business development services.
Results
Since launching in September 2012, the first two phases of the Impulsa Tu Empresa exceeded their goals by supporting more than 1,600 businesses in Guatemala, Honduras, El Salvador, Nicaragua, Colombia, and Burkina Faso.
These businesses have increased their sales by more than $48 million, created more than 1,600 new jobs, and mobilized more than $7 million in capital.
In partnership with the Argidius Foundation, the third phase of the program will build on the successes and lessons learned from the first two phases. Phase three aims to help 1,080 small businesses, half of which are women-owned, and create 850 jobs.
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.
Established in 1959, the Inter-American Development Bank supports economic and social development in Latin America and the Caribbean, providing solutions by partnering with governments, companies, and civil society organizations. The Multilateral Investment Fund (MIF), a member of the IDB Group, promotes poverty reduction through private sector development, with an emphasis on microenterprises and small- and medium-sized businesses.
The Walmart Foundation is focused on creating opportunities so people can live better. The Foundation meets the needs of the under-served by directing charitable giving toward three core areas of focus: Opportunity, Sustainability, and Community.
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. It invests in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities.
The mission of the PIMCO Foundation – the charitable arm of global investment management firm PIMCO – is to Engage, Empower, and Invest in individuals and communities across the globe.
Contact
For more information, please contact:
Oscar Artiga, Central America Entrepreneurship Program Director
oartiga@tns.org
