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Most jobs are in micro and small business

Micro-businesses in the Dominican Republic employ 1.6 million people, creating 11 times as many jobs than industrial free zones, says the Small Business Observatory, an initiative of the office of promotion of small business at the Ministry of Industry and Commerce. Figures from the Observatory and the National Statistics Office (ONE) show that as of 2013 small and micro-businesses accounted for 3.2 times more jobs than the government that employs 514,104 and 11.4 times the 144,383 jobs in the free zones, as reported in acento.com.do   According to reports, while the small business sector is the biggest employer, labor laws are created with larger companies in mind.   The Medina administration has created a RD$500 million fund to finance micro, small business and medium-sized manufacturers through Banca Solidaria with loans at 8% and financing for seven-year terms.

Micro-businesses in the Dominican Republic employ 1.6 million people, creating 11 times as many jobs than industrial free zones, says the Small Business Observatory, an initiative of the office of promotion of small business at the Ministry of Industry and Commerce. Figures from the Observatory and the National Statistics Office (ONE) show that as of 2013 small and micro-businesses accounted for 3.2 times more jobs than the government that employs 514,104 and 11.4 times the 144,383 jobs in the free zones, as reported in acento.com.do

According to reports, while the small business sector is the biggest employer, labor laws are created with larger companies in mind.

The Medina administration has created a RD$500 million fund to finance micro, small business and medium-sized manufacturers through Banca Solidaria with loans at 8% and financing for seven-year terms.

Source: DR1, Acento

March 5, 2015

Category: DR News |

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Last updated December 4, 2016 at 1:52 AM
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