Radio Cadena Agramonte
Sunday, August 25, 2019
Wednesday, March 30, 2011

Cuban Small Business Owners to Sell their Products to the State

Havana, Cuba, Mar 30.- The Granma newspaper announced on Wednesday that the Council of Ministers will pass a banking and credit policy that will allow Cuban small business owners to sell their products and services to the government, as well as to ask banks for loans to start off their businesses.
Granma affirms that small business owners will be able to sell their products and services to state companies as long as both parts have previously signed a contract. The state will grant loans to “authorized small business owners to finance the working capital and investments by way of purchasing assets, supplies and equipments”.

Agricultural and livestock producers will also be given credits for “purchasing work tools and supplies in order to increase food production in the country”.

These actions were approved during an extended meeting of the Council of Ministers, held last March 25 and presided over by the Cuban president Raul Castro.

Nearly 200,000 Cubans have got permits for running small business recently. Prior to the granting of the new permits in Cuba, there were about 157,000 small business owners out of a total population of 11.2 millions.

Up to present day, the state employs 85 % of the Cuban work force. (acn).