USAID Supports “Plan Your Business” Competition

Six business proposals out of 112 were selected as this year’s winning plans in the 2006 Idea Tu Empresa (Plan Your Business) competition. During a ceremony on Dec. 6, the winning entrepreneurs were awarded $10,000 each to help make their business ideas a reality.

The Plan Your Business competition is a way to promote new products and services to the local market, particularly in the tourism, agro industry and light manufacturing sectors. It also serves to help existing businesses expand their market potential.

The United States Government, through the U.S. Agency for International Development (USAID), has provided assistance for Idea Tu Empresa since 2004 through a program implemented by TechnoServe. The contest is also sponsored by several public and private organizations including Nicaragua’s Presidential Competitiveness Commission, ProNicaragua,the Roberto Teran Foundation, the Pellas Business Center, Cargill, the Associaton of Nicaraguan Young Entrepreneurs, Banco Uno, Gran Pacifica Nicaragua and Telefonica Movistar.

At this year’s ceremony, USAID/Nicaragua Director Alex Dickie, said activities like the Idea Tu Empresa contest help Nicaraguan producers and entrepreneurs take advantage of the new opportunities offered by the CAFTA-DR and other free trade agreements. “The U.S. government through USAID,is providing $14.5 million to Nicaragua this year for activities that help producers find new market opportuntities,” he said.