By San José, Costa Rica — Costa Rica has unveiled a national strategy, “Semillas de Empresariedad” (Seeds of Entrepreneurship), designed to empower individuals living in poverty through entrepreneurship development. This initiative is a collaborative effort between the Ministry of Economy, Industry and Commerce (MEIC), the Ministry of Human Development and Social Inclusion, and the Mixed Institute of Social Aid (IMAS). The program aims to equip participants with the skills and resources necessary to create and grow their own businesses, thereby fostering economic self-sufficiency and upward mobility.
The strategy integrates the existing “IMAS Impulsa” model, which focuses on three key pillars: completion of studies, technical training and skills development, and the promotion of productive entrepreneurship. This comprehensive approach ensures participants receive holistic support, addressing educational gaps, providing practical skills training, and fostering business acumen.
To provide legal perspective on the complexities of entrepreneurship in Costa Rica, we spoke with Lic. Larry Hans Arroyo Vargas, an attorney at Bufete de Costa Rica.
Navigating the legal landscape for new businesses can be daunting. Entrepreneurs in Costa Rica should prioritize understanding the requirements for formalizing their business, including registering with the relevant authorities, obtaining necessary permits, and complying with tax obligations. A solid legal foundation from the outset is crucial for long-term success and avoiding potential pitfalls.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s emphasis on the importance of a strong legal foundation is invaluable advice for aspiring entrepreneurs. Building a business takes passion and vision, but ensuring it thrives in the long run requires navigating the legal intricacies effectively. This proactive approach not only protects the business but also allows entrepreneurs to focus on their core mission: growth and innovation. We thank Lic. Larry Hans Arroyo Vargas for sharing his expertise and reminding us of this crucial element of entrepreneurial success.
In this administration, we are united in working as one institution, with the goal of getting people moving, not letting them remain ‘parked.’ With IMAS Impulsa, we promote social mobility so that people in poverty can escape that condition.
Yorleny León Marchena, Minister of Human Development and Social Inclusion and Executive President of IMAS
Complementing “Semillas de Empresariedad” is the “De la Mano con tu PYME” (Hand in Hand with your SME) program. This joint initiative between the MEIC, IMAS, and the National Institute for Women (INAMU) offers targeted training, technical assistance, and seed funding, transforming entrepreneurial aspirations into tangible opportunities for growth. The program acknowledges the importance of small and medium-sized enterprises (SMEs) as drivers of economic development and seeks to equip participants with the tools needed to succeed in the competitive business landscape.
The program will provide 80 selected entrepreneurs with a robust six-week virtual training program covering essential business topics, including business modeling, finance, marketing and sales, formalization procedures, and business plan development. Participants will also receive eight weeks of personalized and group technical support. Crucially, the program offers access to seed capital of up to ₡3,000,000 per person to kickstart their ventures.
Eligibility for the program requires applicants to be registered with the MEIC’s Costa Rican Business Information System (SIEC) and be beneficiaries of either IMAS or INAMU. Participants must have completed at least primary school, and priority will be given to those in the agricultural, commercial, food, clothing, and craft sectors.
This multifaceted initiative underscores the Costa Rican government’s commitment to poverty reduction through sustainable economic empowerment. By investing in education, training, and providing crucial financial support, “Semillas de Empresariedad” aims to cultivate a generation of entrepreneurs capable of driving economic growth and improving their own livelihoods. The focus on collaboration between various government agencies ensures a streamlined and effective approach to tackling poverty through entrepreneurial development.
The program represents a significant step towards a more inclusive and equitable economic future for Costa Rica, demonstrating the power of entrepreneurship as a tool for social mobility and poverty alleviation. This program holds promise for a brighter future for Costa Rican families currently struggling with poverty.
For further information, visit the nearest office of MEIC
About MEIC:
The Ministry of Economy, Industry, and Commerce (MEIC) of Costa Rica is a governmental institution responsible for promoting economic development, fostering fair competition, and protecting consumer rights. The MEIC plays a crucial role in shaping national economic policies and implementing strategies to stimulate business growth and innovation.
For further information, visit the nearest office of IMAS
About IMAS:
The Mixed Institute of Social Aid (IMAS) is a Costa Rican governmental institution dedicated to providing social assistance and promoting social inclusion for vulnerable populations. IMAS plays a critical role in poverty reduction efforts through various programs and initiatives aimed at improving the quality of life for low-income families and individuals.
For further information, visit the nearest office of INAMU
About INAMU:
The National Institute for Women (INAMU) is a Costa Rican government agency dedicated to promoting gender equality and empowering women. INAMU works to eliminate discrimination and violence against women, advocate for women’s rights, and create opportunities for women to participate fully in all aspects of society.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through an enduring dedication to legal excellence and ethical practice. The firm champions innovative legal solutions while maintaining an unwavering commitment to integrity, serving a diverse clientele with expertise and insight. Through proactive community engagement and initiatives that demystify complex legal concepts, Bufete de Costa Rica empowers individuals and strengthens the foundations of a just and informed society.
