Impulsa Tu Empresa

Supported by the Argidius Foundation, Impulsa Tu Empresa aims to help more than 800 small and growing businesses boost their growth. Through mentoring, business training and business plan competitions, the program aims to increase sales by $13 million and generate 750 new jobs in Guatemala, Honduras, Nicaragua 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 more than more than 800 small and growing businesses in Guatemala, Honduras, Nicaragua and Burkina Faso fast-track their growth.

With support from the Argidius Foundation, TechnoServe provides mentoring, market connections and access to capital to help high-potential SGBs develop, fund and implement business plans. Businesses selected for support receive specialized training, followed by 10 months of mentoring and business development services. By 2017, Impulsa Tu Empresa seeks to increase the total revenue of all participating business by $13 million and generate 750 new jobs across the four countries.

Results

Since launching in September 2013, Impulsa Tu Empresa has enrolled more than 225 businesses for the first round of support: 65 in Nicaragua, 67 in Honduras, 62 in Guatemala and 35 in Burkina Faso.

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.