Entrepreneurial Strengthening and Formalization to 500 Informal Businesses

The Regional Competitiveness Mission has identified that one of the most relevant variables that should be taken care of, with the objective of increasing productivity, is the formalization of firms. National statistics had shown that while the percentage of productivity in informality is 6%, in the formalized environment reaches a 41%, indicating that low productivity concentrates, in a high percentage, in an informal environment.

As an answer to this issue, CONFECÁMARAS has adopted a strategy of formalization across the nation in order to be able to increase productivity.

Following this guideline, the "Cámara de Comercio del Cauca" has incorporated in its objectives the development of a formalization strategy that should be linked with the decentralized program that is running through the "Centro de Atención Empresarial" and the RUE.

The "Cámara de Comercio" has the objective of working the informal businesses that are located in the Popayán Municipality by developing a series of activities that should encourage them to formalize their business and demystified the benefits of working in an informal environment.

General Objective:

Promote competitiveness in the entrepreneurial sector of the Popayán Municipality through the formalization and strengthening of business that are operating in the informal economy

Specific Objectives:

Identify and characterize the informal businesses that are located in the Popayán Municipality
Increase the number of formal business
Promote the culture of formality in the Cauca Department and the creation of new businesses
Help the new formalized business to stay in business by providing them technical assistance and training.
Fight against disloyal competitiveness generated by the presence of informal business

Components and Activities

Component 1: Identification of beneficiaries (businesses)

Strategy design
Field work
Systematization and analysis of information

Component 2: Public and private institutional support in order to facilitate the business legalization

Consultancy and technical assistance provided to beneficiaries
Divulge the complete formalization procedure
Legal consultancy
Inscription and commercial license of an individual, legal person and commercial business

Component 3: Consultancy and entrepreneurial training for businesses owners

Development of theoretical and practical entrepreneurial training syllabus
Entrepreneurial consultancy

Beneficiaries 500 business owners and their employees

Expected Results

A document that will identify and characterize the informal economic units in the Popayán Municipality
At least two strategic alliances will be conformed with public or private entities that will be interested on promoting informality
At the end of the project, 500 informal businesses are registered in the "Cámara de Comercio de Cauca"
At the end of the project, the number of registers in the "Cámara de Comercio de Cauca" will register an increase of 15%
At the end of the project 500 people (who work in the legalized businesses) have received training in entrepreneurial topics.

Project Detail

Country

Colombia

Project Number

CO-M1044

Approval Date

July 22, 2008

Project Status

Closed

Project Type

Technical Cooperation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

MICROENTERPRISE DEVELOPMENT

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

Facility Type

Environmental Classification

Likely to cause minimal or no negative environmental and associated social impacts

Total Cost

USD 288,992.00

Country Counterpart Financing

USD 139,787.00

Original Amount Approved

USD 149,205.00

Financial Information

Operation Number	Lending Type	Reporting Currency	Reporting Date	Signed Date	Fund	Financial Instrument
ATN/ME-11104-CO	Non-Sovereign Guaranteed	USD - United States Dollar	Jun. 30, 2024	Sep. 18, 2008	Multilateral Investment Fund II (MIF) -	Nonreimbursable

Operation Number

ATN/ME-11104-CO

Lending Type: Non-Sovereign Guaranteed
Reporting Currency: USD - United States Dollar
Reporting Date: Jun. 30, 2024
Signed Date: Sep. 18, 2008
Fund: Multilateral Investment Fund II (MIF) -
Financial Instrument: Nonreimbursable

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Implementation Phase

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-10598

Project Performance Monitoring Reports

MIF_ Project Status Report ATN_ME-11104-CO [37040286].PDF

Sep. 04, 2012

English

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-15158

Project Performance Monitoring Reports

MIF_ Project Status Report ATN_ME-11104-CO [36802869].PDF

Apr. 13, 2012

English

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-15950

Project Performance Monitoring Reports

MIF_ Project Status Report ATN_ME-11104-CO [36435403].PDF

Sep. 27, 2011

English

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-125

Procurement Plan

Solicitud de no objeción al Plan de Adquisiciones ajustado [36286333].PDF

Sep. 23, 2011

Spanish

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-15351

Project Performance Monitoring Reports

FOMIN_ Reporte de estado del proyecto ATN_ME-11104-CO [35820206].PDF

Dec. 31, 1999

English

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-120

Specific Procurement Notices

SERVICIO DE CONSULTORIA Consultants [35542438].PDF

Dec. 31, 1999

Spanish

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-16393

Project Performance Monitoring Reports

FOMIN_ Project Status Report ATN_ME-11104-CO [35524185].PDF

Dec. 31, 1999

English

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-11752

Project Performance Monitoring Reports

FOMIN_ Reporte de estado del proyecto ATN_ME-11104-CO [35195586].PDF

Dec. 31, 1999

English

https://www.iadb.org/document.cfm?id=EZSHARE-2022823292-8223

Donors Memorandum

Donnors Memorandum [35052045].PDF

Dec. 31, 1999

English