Puerto Rico Economic Pulse ©

May 2013: Can Small Lead the Way?

Why small and medium enterprises will matter more than ever

Puerto Rico’s economic landscape has always been dominated by initiatives targeting big business. In practice, every major initiative relegated small and medium enterprises (SMEs) to the backseat when it came to public policy.  This is not to say that SME-targeted resources were not available (quite the opposite) but rather that SMEs were always considered the complement to the “true” engines of economic growth. A careful look at SMEs reveals, however, a different picture. Personal consumption—typically the largest contributor to GNP growth—depends largely on the jobs generated by SMEs. Furthermore, as PR rebuilds its economic fiber, small businesses will continue to channel innovation, entrepreneurship, and small-scale investment.  Interestingly, opportunities will abound in ways that will surprise even the skeptics. This Pulse will tell you why and where.