Small and medium-sized companies in Latin America could play a key role in strengthening and consolidating the region’s economic growth, which this year will slow down for the first time in nearly a decade, two international organizations said today.
The Organization for Economic Cooperation and Development and the Economic Commission for Latin America and the Caribbean said in their report that small and medium enterprises, or SMEs, account for 99 percent of businesses in the region and employ 67 percent of workers but their contributions to GDP and productivity remain low.
