On June 27, the International Day of MiPymes (micro-enterprises and SMEs) is celebrated in Peru, which generate 90% of formal jobs, are 98% of the business fabric and account for 21% of GDP.
In this context, the Alegra.com accounting platform conducted a study on the sales of MSMEs in the first half of 2022 and the challenges they face for their sustainability and growth.
According to the research, Mipymes have presented a growth of 27% in sales this semester in relation to the same period of the previous year, it is also identified that there is a rebound between the first and second quarters.
“If we look at the data in detail, we will find that sales are growing steadily, but below expectations, this may be due to multiple factors such as inflation and the confidence of the Peruvian consumer,” says Adolfo Coll-Cárdenas, Strategic Leader of Alegra in Peru.
Likewise, the study found that the trend remains constant in the sectors with the most sales: retail, food and restaurants, personal care and technology. In 2022, personal care sales have overlapped versus technology.
Finally, Alegra also identified four challenges faced by Peruvian and regional MSMEs:
- Only 45% of the MSMEs created in the region are surviving more than two years and have a shorter life cycle compared to those in other regions such as Europe, where 80% pass that threshold.
- Difficulties in accessing financing, along with bureaucracy, are other difficulties that Peruvian SMEs must overcome to secure their growth. According to the World Bank, creating a microenterprise in Peru costs around 360 dollars, approximately 1,400 soles.
- The lack of innovation is one of the biggest challenges for small and medium-sized Peruvian companies. Added to the difficulties of entering the digital ecosystem for its growth.
- Another of the great challenges is the level of training and education, since there is not much correlation between what is offered in the educational system and the skills required by the productive sector.