They approved 64 new ones and now there are about 11 thousand

This week, another 64 new micro, small and medium enterprises (MSMEs) received permission to operate in Cuba. By the way, the Ministry of Economy and Planning (MEP) revealed that the number of people recently approved is around 11 thousand so far.

This time all the companies that have been approved are privately managed companies. Most of them will be in charge of gastronomic services, passenger and cargo transportation activities. Similarly, they will allocate their activities to the maintenance and repair of motor vehicles and motorcycles.

For example, two of the recently approved people will be responsible for the classification, distribution, transportation and delivery of goods from a foreign country contracted to a state entity. Others, meanwhile, provide construction services, renting out houses, rooms and spaces. Similarly, they make clothes and shoes, do computer programming and produce feed.

comeback of msme

MSMEs immediately returned to the island’s economic landscape to “try” to import everything that the state could not afford for various reasons. In September 2021, measures were approved that provided the possibility of forming a micro, small or medium-sized company.

Cuban MSMEs are recognized as an economic entity with legal personality with its own characteristics. These businesses may be state, private or mixed.

Due to known reasons, these companies are not authorized to operate in priority sectors like health, telecom, energy, defense and media.

MSMEs co-exist with state companies, non-agricultural cooperatives and self-employed workers as economic actors on the island. There are now a total of 10,927 official businesses throughout Cuba.

Since their creation, MSMEs have not been free from criticism. For example, consumers in Cuba consistently decry the high selling prices of products.

Another common complaint is that some only charge cash from their customers, an aspect that greatly limits their acceptability in neighborhoods and communities.