Entrepreneurs in Panama were informed earlier this month of a new loan structure designed to help small businesses get on their feet.
Prensa.com reports, “The bank will be the third component of “Proyecto Impulso” (“Stimulus Project”), and will begin operations with 
$25 million in capital. The announcement was made by Roberto Henríquez, Commerce and Industries minister, who will present his plan to the Executive Cabinet.”Henríquez explained that 90% of the country’s companies are classified as micro and small. This is why this bank will be focused on granting credit solutions to this sector of the economy.”
With the program in place, Panama has the potential to see micro businesses flourish and hopes to see new enterprises grow and prosper. Lack of experience among Panamanian businessmen and women, however, might just stunt the much needed entrepreneurial growth.
What’s the solution? Matt Landau of The Panama Report has an idea: the Panama Entrepreneur Visa.
He says in part, “Ask any entrepreneur nowadays in Panama what the most difficult obstacle is to deal with and the answer is united: immigration. Visionaries like these can usually see through the little hurdles – the red tape, the cultural nuances, the fact that nothing gets done on time – because that’s what entrepreneurs do. But for small business owners, immigration in Panama is an extremely hard obstacle to overcome. Not only are visas difficult to obtain for oneself, but the ability to import skilled laborers is virtually impossible.
The potential to make a profit in Panama supplies a huge incentive for entrepreneurs to come up with new and better ideas: thus the giant explosion in new corporations created over the past five years. There is – and will be more and more amidst a recession and tightening immigration policies elsewhere in the world – a mad dash to bring in the world’s skilled foreigners.”
To read the full story by Matt Landau, visit The Panama Report.
