Tuesday, 05 April 2022 23:16

TechnoServe and Banco CUSCATLAN sign alliance to support SMEs in 2022

Written by Evelyn Alas

Banco CUSCATLAN and TechnoServe sign an alliance to support the small and medium enterprise sector in El Salvador, through training in strategic business areas: Finance, Marketing, Sales, Innovation, Organization and Human Resources.

Thanks to the extensive experience developing initiatives for the business sector and the understanding of both organizations about the needs and challenges faced by Salvadoran companies, Banco CUSCATLAN and TechnoServe decided to join forces to donate 10 scholarships to women entrepreneurs to participate in the "Impulsa Tu Empresa" program, one of the best business accelerators in Latin America, which will guide entrepreneurs on strategies that allow them to grow and implement good business practices.

"We are convinced that there is significant growth potential for our small and medium-sized companies. That is why we seek to partner with TechnoServe to provide them with the tools that will enable them, especially those SMEs led by women, to expand their operations, grow their sales or create new products and services that will boost their business", said Santiago Díaz, manager of SME Banking at Banco CUSCATLAN.

SMEs that participate in the Impulsa Tu Empresa program receive training in identifying market opportunities, analyzing financial information, developing operational plans, creating and implementing effective human resources strategies, among other crucial business topics.

The Impulsa Tu Empresa (ITE) program has a duration of three to seven months and is taught by expert business advisors using the methodology that has been validated for more than ten years with close to 1,800 similar companies in countries such as Nicaragua, Guatemala, Honduras and from 2021 in Bogota and Barranquilla in Colombia.

In 2021 Impulsa Tu Empresa supported more than 100 Salvadoran companies to grow, generating results of US$5 million in annual sales increase, or 52% average increase in sales, US$2.1 million in financing and US$1 million. in investment. These results in 2022 could be even better with the support of Banco CUSCATLAN, increasingly strengthening SMEs by offering them products tailored to their needs.

"We are very satisfied with the results obtained in 2021. We know that we are supporting the fabric that moves the economy and generates jobs in the countries where we operate, in addition to contributing to the post-pandemic economic reactivation. The results motivate us to continue supporting the sustainability of more companies", said Silvia García Tellez, Regional Manager of the program.

Women SME leaders who wish to participate for one of the 10 scholarships must meet the following requirements to enter the selection process: at least 1 year of operation, have sales of US$20,000 to US$2 million annually, and have a team of 2 employees or more. All sectors can apply, except livestock and primary agriculture.

They can apply at the website: https://www.bancocuscatlan.com/banca-de- empresas/potencialmujerform-220331

Selected businesses will have an interview with the TechnoServe team in order to be evaluated by a selection committee that will notify them if they are accepted into the program.

In addition, SMEs in the country have been invited to participate in training spaces through free monthly webinars provided by TechnoServe's team of experts, to which Banco CUSCATLAN will be inviting them. You can consult the topics in the "grow with you" category of the following link: https://www.bancocuscatlan.com/banca-de-empresas/mujeres