Pagina Siete reports on a very important element for the economics of Bolivian households who have part of their families working outside our country:

It is a training program to entrepreneurs that open new job opportunities and employment to Bolivian families who return from Spain or to those who receive remittances from a relative in that country.

The beneficiaries are individuals or families who have an idea for a business or enterprise and who are selected to be trained and assessed free of charge, allowing them to design their business plan and undertake their idea in La Paz, Santa Cruz and Cochabamba.

FIE (NGO) and the IMF, which is an independent fund administered by the Inter-American Development Bank (IADB), can channel part of the funding needed by any successful project. [I’ve met the IMF in Washington back in 2006, and was pleased to find out that this is the best option a multilateral development agency can provide to Bolivia; similar organizations should also develop these type of opportunities for the Bolivian private sector, mainly towards SMEs]

According to the head of the FIE (NGO), María Victoria Rojas, project since its inception in July 2008 to July this year, there have been 228 people who participated in training courses.

212 Business plans materialized, but the enterprises that are still operational in La Paz, Cochabamba and Santa Cruz are 89. [which is still a good number, considering the insecurities that current government fails to solve]

83% of the business ideas from participants are still in force, 42 per cent were created or had consolidated their businesses from their training, and 41% await funding or still have some requirements to fulfill, prior to the startup of the activity.

The implementation of the project allowed to build 254 jobs, 20% in La Paz, 24 per cent in Cochabamba and 56% in Santa Cruz. [this initiative needs to be expand even more]

The areas where more business materialized are 39% in services, 28% industry and trade 21%.

Rojas pointed out that training takes a six-month period in which the business idea must be refined. Then, training is provided in finance, marketing, trade, legal-judiciary aspects and computer modules.

Enterprises can start from families in the country who receive remittances from Spain or with the migrant after saving some money prior to coming back to Bolivia.

Other countries

The program also runs on Ecuador, where 377 people were trained and were consolidated 307 projects.

155 Projects were presented in Uruguay and until last year, 118 ventures, of which 75% are in operation, explained Fabian Laguardia, technical coordinator of the IDB/IMF project in that country.

481 persons who designed 335 business plans were trained in Colombia. 800 jobs were generated.

Successful experiences of people who are now entrepreneurs materialized in all these nations.

http://www.paginasiete.bo/2011-12-05/Economia/NoticiaPrincipal/ecoadel01.aspx

If we compare Bolivian numbers with other countries’ we could infer that we certainly can do much better, it is a matter of making this excellent opportunity known more widely. IBCE, CAINCO, Santa Cruz Governor’s Office should pursue this initiative, they do not need anyone else’s support or authorization.

What is more important is that this amazing opportunity can be replicated with other countries, the IMF is there to help; we just need to find a similar organization like the Spanish CREA in the other countries where we have hard-working migrants; or at least explore with the IMF for other alternatives, and that is where institutions like the ones I mention in the above paragraph can play a significant role.

Kudos for FIE (NGO), IMF and Spanish CREA!!!