The Dominican business system is characterized by being micro, small and medium-sized enterprises (MSMEs) that are in the informal sector. However, these businesses must align themselves with a digitized and interconnected ecosystem to offer their goods and services to a larger audience.
This was expressed by the Vice Minister of Promotion of MSMEs of the Ministry of Industry, Commerce and MSMEs (MICM), Jorge Morales Paulino.
“When MSMEs are on the internet, their sales increase and production costs are reduced, since their services go from being analogous to automated,” he explained during the elDinero 2022 Economic Forum.
According to the executive, to encourage companies to take the necessary measures for the sake of their improvement and development, the MICM holds workshops, meetings and educational programs to motivate the digital ecosystem of these businesses and encourage their formalization.
“The basis of the development of a nation is in the MSMEs, which today are small businesses but which will be large companies in the future,” he said.