AGEXPORT’s Financial Advisory Bureau seeks to support small and medium companies and re-activate the economy
After analyzing the results of continuous surveys that AGEXPORT implemented since the start of the COVID-19 pandemic, the institution concluded that one of the most important challenges that companies are facing during the COVID-19 crisis is how to adapt their business models to the new dynamics of restricted operations. To successfully adjust, companies need financial resources and technical assistance to participate in this “new normal” worldwide.
We submitted to the government authorities our proposal of economic measures to overcome the current situation, helping workers and seeking for alternatives to guarantee that businesses keep their operations going. But parallel with our negotiations with the government, we have also kept constant communication with our member companies to understand their needs during this unfavorable time. One key need that we have identified has to do with financial alternatives. Therefore, we developed a project that will be managed by our Competitiveness Department called “Financial Advisory Bureau”, where we will offer 13 financial products and services to help our companies grow and improve their capitalization; said Mrs. Connie de Paiz, AGEXPORT’s President.
AGEXPORT’s Financial Advisory Bureau will support companies with different services, from financial diagnostics to restructuring debt and optimizing financial resources to resume operations during this COVID-19 period.
One of the actions that we suggest to re-activate the economy and boost exports has to do with access to credit. This is key for companies to be able to pay salaries, tax obligations, and debt with providers. The current economic situation requires companies to seek to restructure their current loans, which will allow them to also transform their business models and adapt to the new economic conditions. This is why our Financial Advisory Bureau becomes very relevant to prepare companies to successfully negotiate with financial institutions; said Mr. Amador Carballido, AGEXPORT’s CEO.
Companies will also be able to strengthen their knowledge and capabilities on financial topics. These programs will be offered through AGEXPORT’s Export Pathway and the Foreign Trade School.
Our mission in AGEXPORT is to develop actions and programs to boost value chains and production, which in turn will guarantee employment opportunities for Guatemalans and maintain peace in the country. We believe that we will only achieve this if public and private institutions join hands and implement different actions, such as expediting tax returns to exporters, implement specific regulations on part-time labor, sign double taxation agreements with countries like Mexico, among other actions; said Mr. Carballido.
To be part of AGEXPORT’s Financial Advisory Bureau, companies need to follow four simple steps:
- Request an initial meeting at firstname.lastname@example.org
- Complete a diagnostic test
- Receive the results of the diagnostic test and participate on an advisory session to close the identified gaps
- Participate on a special advisory session to prepare the files to present to the financial institution
The Bureau will work to establish strategic alliances with financial institutions, with which it will share different business projects that the Bureau helped to structure. These projects will be analyzed and structured to guarantee they will receive the funds they need to grow and succeed.