Every 11 November, Paraguay marks Paraguayan Entrepreneur’s Day, honouring the vital role of business leaders in driving economic progress. For Paraguayan Entrepreneur’s Day 2025, the spotlight fell on small and medium-sized enterprises (SMEs), which form a robust backbone of the nation’s economy, accounting for 39% of all business units.
Paraguay’s Vice Ministry of MSMEs, under the leadership of Gustavo Giménez Fernández, operates within the Ministry of Industry and Commerce (MIC) and is dedicated to fostering innovation and formalising the sector. This body plays a pivotal role in equipping entrepreneurs with tools to thrive in a competitive landscape.
A message for Paraguayan entrepreneurs
In a direct appeal on Paraguayan Entrepreneur’s Day, the deputy minister urged business owners to persevere. “I want to encourage entrepreneurs to continue their ventures, to seek support from the Ministry of Industry and Commerce to plan their growth, and to connect with the support network that the MIC manages,” he said.
“Thanks to technology, the world is the market and it’s just a click away,” Giménez added, highlighting the global opportunities now within reach.
Key measures to support the SME sector
Several initiatives, as per the Vice Ministry of MSMEs, have been rolled out to bolster SMEs, providing benefits for formal operations:
- Full Implementation of the MSME Law: New regulations offer concrete advantages to formal businesses, streamlining processes and enhancing competitiveness.
- Automatic Mipymes Certificate Issuance: This enables 100% discounts across public institutions and municipalities, alongside loans at preferential rates.
- Access to Public Procurement: SMEs gain entry to the country’s largest buyer, opening doors to significant contracts.
- Training and Technical Assistance: Delivered via business development centres nationwide and the Contact Center at 021-7297373.
“We seek to contribute to its growth through a renewed legal framework that allows for streamlined procedures,” Giménez stated in comments to state media.
Paraguay: A booming entrepreneurship landscape
Entrepreneurship in Paraguay remains a dynamic and expanding field, propelled by the surge in micro, small, and medium-sized enterprises (MSMEs), which comprise 39% of business units. Government and private programmes provide training, seed capital, and microloans, spurring innovation in areas like technology, gastronomy, agribusiness, and services.
Despite ongoing challenges, on Paraguayan Entrepreneur’s Day 2025 the future looks bright, buoyed by expanding opportunities and a strengthening support ecosystem.
Also read about the monthly gathering organised by the Asunción Entrepreneurs Network, bringing together English-speaking professionals from remarkably diverse backgrounds.
