Over 840 Entrepreneurs Financed in Yaracuy State, Fueling Regional Growth and Success
More than 840 entrepreneurs in Yaracuy State, Venezuela, have received financing totaling $1,005,000 from the Public Bank and the National Fund for Entrepreneurs (FONAEM). This investment aims to support local businesses and drive regional growth across the state’s 14 municipalities.
The financing covers a range of productive areas, including gastronomy, commerce, agricultural production, tourism, and manufacturing in various sectors. These ventures have emerged from the needs of the communities, contributing positively to the growth of the regional economy.
Highlighting the success of the initiative, Mignely Acosta, the president of the Yaracuy State Autonomous Institute for Economic Development (Iadey), announced that there is currently no delinquency in the loan repayments. This reflects the responsible approach taken by entrepreneurs towards their projects.
Each venture is closely monitored and supported by the financing organizations to ensure its success. Acosta emphasized that the success of each project hinges on four key factors: Training, Formalization, Financing, and Fair. The last aspect refers to open-air marketing days where entrepreneurs showcase their products in public spaces.
A crucial aspect of the process is the organization of production units, which are created to meet specific community needs or fulfill broader local requirements. Once established, these enterprises undergo registration with the respective municipalities and participate in a training program that equips them with administrative and business skills necessary for effective operations.
Following the registration and training phase, the ventures are legally formalized and listed in the Mercantile Registry. They can then apply for financing to obtain the necessary resources for their growth, with the support of the revolutionary government.
Acosta credited the initiative’s success to the collaboration between various organizations and the unwavering support of President Nicolás Maduro and Governor Julio León. This emerging economy, fueled by grassroots efforts, is propelling the country towards complete consolidation.
Looking ahead, Governor Julio León is set to inaugurate a permanent fair at the Severiano Giménez de San Felipe exhibition park. The existing facilities are currently undergoing rehabilitation to transform them into a space for commercial exchange, productive collaboration, and recreation for the entire population. Financed entrepreneurs will have the opportunity to showcase their products at affordable prices, fostering cooperation and benefiting the people of Yaracuy.
This ambitious project reflects the commitment of the regional government to support, promote, and showcase the diverse entrepreneurial experiences within the state. By encouraging collaboration and offering a platform for entrepreneurs, Yaracuy State is paving the way for a thriving and prosperous business environment.
The financing of over 840 entrepreneurs in Yaracuy State highlights the dedication of the region’s government to driving economic growth and supporting local businesses. With an investment of $1,005,000, these entrepreneurs are leading the way in sectors such as gastronomy, commerce, agriculture, tourism, and manufacturing. The successful implementation of the financing scheme can be attributed to the adherence to the Four Fs: Training, Formalization, Financing, and Fair. This approach, combined with the guidance and support of various organizations and the backing of President Nicolás Maduro and Governor Julio León, has resulted in a robust and responsible entrepreneurship ecosystem. The upcoming permanent fair at the exhibition park will further reinforce opportunities for entrepreneurs to showcase their products and foster collaboration. This visionary project demonstrates the commitment of the regional government to foster economic development and consolidate the emerging economy being spearheaded by the people of Yaracuy State.
