RISE OF ENTREPRENEURSHIP IN CUBA

Since 2008, the Cuban private sector has enjoyed a timid yet stable development. Nowadays in Cuba, the recently emerged private sector provides a new opportunity for individuals to start their own businesses. In 2010, when licenses began to be issued for 201 categories of self-employment, the number of micro-entrepreneurs grew steadfastly. Currently, there are approximately 450,000 registered micro-entrepreneurs.

WHY IS IT IMPORTANT TO EMPOWER YOUNG CUBAN ENTREPRENEURS?

Micro-enterprises in developing countries are crucial.

Profits from micro-enterprises allow business owners to provide a better livelihood for their families.

Micro-enterprise development also has great and positive repercussion in a community, as it facilitates the emergence of employment, and increase in community wealth.

THE CHALLENGES

  • 1
    Private enterprise has been weak for the greater part of the last 50 years.
  • 2
    Emerging Cuban entrepreneurs often lack the resources and mentorship needed to successfully start and manage their own business.
  • 3
    Private business in Cuba only represent 4% of total workforce.

THE SOLUTIONS

  • StartUp Cuba's innovative programs foster a culture of entrepreneurship, which contributes to the renewal of private enterprise.
  • StartUp Cuba provides emerging entrepreneurs with business mentors and unique learning opportunities.
  • Through innovative educational programs and empowerment tools, StartUp Cuba aims to inspire more people to start their own business, thus reducing dependency on the state.
BENEFITS OF EMPOWERING CUBAN ENTREPRENEURS