The National Traders and Business Federation (Fenacerd) is asking the government to fulfill Law 488-08 on micro, small, and medium-sized businesses, known as “Mipymes”, assigning the budget as required by law. The Mipymes Law establishes that no less than 0.4% of the total government budget needs to be allocated to this sector. The federation believes that the government is sending a negative message to the public when it should be promoting solutions. He reminded the authorities that small businesses generate a large percentage of the nation’s GDP. <\/p>\n
Fenacerd president Ricardo Rosario, who gave an interview to Hoy newspaper together with other members of the federation’s board of directors, said that this year some RD$1.5 billion was distributed in the sector, but this was not enough. <\/p>\n
Rosario stressed that Promipyme, the government agency that supports the sector, needs more funding to provide more financing to small businesses. The federation vice-president, Manuel Ortiz, said that when it comes to funding for the public institutions that deal with the micro-, small and medium business sector, there should be a chapter set aside for training, guidance and preparation in order to compete in the global marketplace.<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Traders and Business Federation (Fenacerd) is asking the government to fulfill Law 488-08 on micro, small, and medium-sized businesses, known as “Mipymes”, assigning the budget as required by law. The Mipymes Law establishes that no less than 0.4% of the total government budget needs to be allocated to this sector. The federation believes … <\/p>\n