The 2022 edition of the ADEC Awards brings a novelty: recognition of micro, small and medium-sized companies is now added to the already existing categories. MSMEs represent 93% of the productive units in Paraguay, but have suffered a significant drop in their income during the Covid-19 pandemic. ADEC seeks to promote those companies that not only withstood the crisis, but also improved their products and processes, positively impacting society and the environment.
The Association of Christian Entrepreneurs (ADEC) incorporates a new category to the ADEC Awards this year: Mipymes. The decision is not accidental. Micro, small and medium enterprises represent 93% of the productive units in Paraguay and generate employment for 61% of the country’s workers. Consequently, they provide key income to the economy of the country and the region, representing approximately 25% of the gross domestic product (GDP) in Latin America and the Caribbean, according to 2020 data from the Inter-American Development Bank (IDB).
However, the economic crisis generated by the Covid pandemic has had a strong impact on Paraguayan MSMEs. In relation to the year 2019, 47.5% of them reduced their employment and 70% reduced their sales in the year 20202. The situation worsens due to the lack of access to credit, especially since many were already over-indebted before it crisis or they are not formalized as is the case of the majority.
Despite this scenario, many MSMEs have not only managed to survive, they have also been able to grow to make a difference. “We seek to show concrete examples of MSMEs that allow entrepreneurs, businessmen and the whole of society to make business management models visible, recognizing work well done and demonstrating that it is possible to achieve success, positively impacting our society and the environment,” Mario Romero highlighted. , member of the ADEC Awards Committee.
