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Puerto Rico’s small businesses to get boost into new markets through agreement

An agreement between the United Retailers Association (CUD in Spanish) and the Puerto Rico Economic Development Bank (EDB, in Spanish) seeks to boost growth among the island’s small- and medium-sized businesses into new markets.

The collaboration between the public agency and the trade group will provide, among other benefits, public workspaces to CUD members.

The agreement will also provide trained EDB staff for activities held at the CUD headquarters to provide guidance on identifying new markets and financing opportunities and alternatives in the public corporation’s portfolio of financial products.

“The advisory services that our officials will offer to organization members, this personalized treatment, can be invaluable in our promotional and marketing efforts,” EDB President Luis Alemañy said.

“Especially that they can learn about other business models and opportunities. This way, they will be able to integrate new methodologies and markets,” he said.

The agreement also provides for the entities to work together on educational campaigns through social media to promote the economic development of the private sector.

“With the signing of this alliance we continue to strengthen our commitment to the island’s small- and medium-sized companies, always looking for the best tools for the growth of businesses as well as looking for better options for people who want to start new businesses,” said CUD President Jesús E. Vázquez-Rivera, of the agreement that entails no financial commitments.

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This story was written by our staff based on a press release.

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