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IDB fund approves technical cooperation grant

27
Feb '07
The Inter-American Development Bank's Multilateral Investment Fund announced the approval of a US$801,500 technical cooperation grant for a program to promote the survival and competitiveness of family businesses in the central region of Argentina.

The program will help family businesses in the provinces of Cordoba, Entre Rios and Santa Fe to professionalize their management. Activities will include raising awareness of the special problems faced by family businesses and tools to address them; training of consultants and entrepreneurs; and introduction of family charters and governance tools in family businesses. Lessons learned from this process will be documented, evaluated and disseminated.

“There are currently an estimated 900,000 small and medium-sized enterprises in Argentina, of which nearly 59,000 are formally incorporated in the central region of the country,” said IDB Team Leader Svante Persson. “Approximately 85% of businesses in the central region are family-owned.”

“Family businesses face survival difficulties and only one-third reach a second generation,” added Persson. “Lack of professionalism and organizational structure keeps them from growing and jeopardizes their survival. There were no services up to now to advice them on how to institute transparent management practices and ensure their continuity.”

Universidad Siglo 21, a University based in Cordoba, will be in charge of the project and will appoint execution entities in Entre Rios and Santa Fe. The initiative targets the specific needs and demands of small and medium-sized family-owned enterprises to address the problems of succession and management via the introduction of good corporate governance practices and a family charter to govern the business relationship.


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