Family businesses are an essential element of the economic and social structure of the majority of the countries in Latin America and the Caribbean, and they represent a significant percentage of the gross domestic product. Therefore, the region's employment levels and growth rate depend in large part on the success of family businesses.
The IIC is the only regional multilateral institution that offers direct financing to private enterprises in Latin America and the Caribbean. Our experience in this market has clearly demonstrated the consequences of a lack of planning and the absence of structures for transitioning a family business from one generation to the next. The program organizes workshops, trains consultants in Latin America and the Caribbean, promotes research on governance, and offers individualized technical assistance to small and medium-size enterprises (SMEs) to provide them with solutions for sound corporate governance practices that are tailor-made to their needs and challenges.
FINPYME Family Business is part of FINPYME, one the Inter-American Investment Corporation's (IIC) emblematic initiatives. FINPYME Family Business is possible thanks to generous support from a number of trust funds, in particular the Korea-IIC SME Development Trust Fund, funded by the Korean government, and the Spanish General Cooperation Fund, funded by the Spanish government.