The Caguas municipal administration recently announced the start of a six-month microenterprise incubator program, “Caguas Compite,” through which the town seeks to provide training sessions and promote community economic development.
“We know that the road to economic recovery is complex, it requires collaboration and accountability in all sectors,” said Caguas Mayor William Miranda Torres said. “For that, it is important that we open neutral work venues under the rule of trust rather than mistrust.”
The program expands upon community economic development and self-management, human development, feasibility analysis for micro-enterprises, business plan, legal issues, sales and marketing, accounting, permits and regulations and options funding. The support and mentoring will continue for six months after it is over, municipal officials said.
“Caguas Compite,” he said, “identifies points of convergence and concrete actions that will result in the promotion and retention of economic activity and a better business environment.
The program provides basic skills training to start a business, coaching and mentoring throughout the process and a resource kit, free of charge to qualified Caguas residents. Participants are mostly women representing the city’s 11 sectors. All participating businesses will be established in Caguas and most are directed to the sales and services areas. Other business areas are agriculture, manufacturing, construction, recycling, among others.