AGP Executive Report

Brazil’s Labor Costs: Congress approved a shorter workweek without pay cuts ahead of the runoff, prompting business leaders to warn that higher labor costs could squeeze small firms and fuel informal work. Argentina’s Uneven Recovery: Inflation has eased sharply, but small-business owners still face high operating costs and weaker consumer spending, leaving many far from the gains investors see. Belize Tourism: A proposed US$300 million resort development could generate substantial visitor spending and new opportunities for local guides, artisans and small businesses, according to the project’s impact analysis. Caribbean Vendor Support: Saint Lucia’s cruise port and the Caribbean Community hosted a financial-literacy clinic for arcade vendors, offering support to small operators.

Paraguay’s AI Bet: Crusoe and local developer Araico plan an AI computing hub powered by Itaipú, with an initial launch targeted for 2027. The project could bring jobs and investment, while creating potential openings for local suppliers. Belize Tourism: A proposed US$300 million Olo Caye development could generate up to US$230.5 million in annual visitor spending. Its developers say local guides, artisans and small businesses could benefit. Digital Growth: A Colombian startup raised US$6 million to expand AI sales agents for Spanish-speaking markets. Across Latin America and the Caribbean, fraud and cybersecurity concerns are also weighing on SMEs’ digital growth. Business Disruptions: In Antigua and Barbuda, a senator warned that security restrictions for the upcoming CHOGM summit could cost vendors and shopkeepers several days of income, and urged officials to consider support. Digital Access: The World Bank’s new strategy aims to lower connectivity costs and strengthen digital skills—foundations that could help small firms adopt technology.

Caribbean Small Businesses: Antigua senator Malaka Parker warned that security restrictions and traffic during the Nov. 1–4 CHOGM summit could cut vendors’ and shopkeepers’ income, and urged the government to consider stipends and give local sellers a chance to benefit. Vendor Support: In Saint Lucia, a financial literacy clinic for Castries arcade vendors offered guidance on registration, financing, revenue growth and daily operations. Digital Payments: Stablecoin flows into crypto platforms linked to Colombia reached US$3.5 billion in the second quarter. Businesses use digital dollars to collect payments from foreign clients and pay suppliers, though consumer protection remains a concern. SME Digital Risks: A Mastercard study flags fraud and cybersecurity fears as barriers to digital growth for small and medium-sized businesses across Latin America and the Caribbean. Fintech: A Colombian startup raised US$6 million to expand its AI sales agents for Spanish-speaking markets.

Summit Disruption: Antigua and Barbuda senator Malaka Parker warned that CHOGM security measures and traffic could cost small businesses several days of income. She called for support for affected traders and more chances for local vendors to benefit from the summit. Small-Business Support: Saint Lucia Cruise Port and Castries officials held a financial literacy clinic for arcade vendors, covering business registration, financing, revenue growth and daily operations. Fintech Shift: Latin American fintechs are focusing more on infrastructure and disciplined growth. Plus500 plans to acquire a regulated Brazilian brokerage, while Mexico’s PayJoy bought credit-assessment technology assets from Finia AI. Digital Payments: Stablecoin flows to crypto platforms linked to Colombia reached US$3.5 billion in the second quarter, as users seek faster cross-border payments to clients and suppliers. The figure measures platform flows, not transactions made only by Colombians. Regional Digital Access: The World Bank’s first digital strategy targets cheaper connectivity, stronger digital skills and AI readiness, with the aim of helping businesses reach customers and access finance.

Digital Access: The World Bank’s first digital strategy targets cheaper connectivity and devices, stronger digital skills and services, and job creation. A shared, pay-as-you-go AI computing initiative will initially focus on Latin America, potentially lowering barriers for smaller firms to use AI. Caribbean Small Business: Cayman Islands officials used the Caribbean Investment Forum to explore financing, digitisation and market expansion for micro and small firms as the government develops its Small Business Policy. Startup Funding: A Colombian AI startup raised US$6 million to scale sales agents for Spanish-speaking markets, while Uruguay’s Scanntech closed a US$180 million round to support international expansion.

Digital Access: The World Bank’s first digital strategy targets affordable connectivity, digital skills and shared AI computing in Latin America, with potential to help businesses reach customers and access finance. Startup Funding: Colombian AI startup Dapta raised US$6 million to develop its Spanish-language sales agents and expand its team; it says the tool already serves clients including Rappi and Mercado Libre. Growth Capital: Uruguay’s Scanntech raised US$180 million to accelerate international expansion. Digital Risk: A Mastercard study highlights fraud and cybersecurity fears as barriers to digital growth for small businesses across Latin America and the Caribbean. Local Business Support: A Cayman Islands delegation met regional investment partners to explore better access to capital, digitisation and new markets for micro and small firms.

Digital Access: The World Bank’s first digital strategy includes an initiative to expand affordable computing in Latin America, aiming to help businesses use AI, reach customers and create jobs. Online Sales: Consumers aged 45 and over are forecast to drive 51% of new online spending growth in emerging markets through 2036. Merchants that make shopping easy for older customers could capture more of that demand. Startup Funding: Colombian AI sales startup Dapta raised US$6 million to develop its tools and grow its team. Its Spanish-language agent contacts prospects, qualifies leads and books meetings, with small businesses among its target users. Women-Owned Firms: In Guyana, more than half of the businesses backed by a small-business loan guarantee programme are women-owned. The scheme has helped 177 firms secure about G$1.6 billion in commercial loans over six years. Rising Costs: Bahamian businesses face an 11.1% freight-rate increase from November 8, adding pressure ahead of the holiday season. Some say higher shipping costs may force them to raise prices. Tourism Trade: A 1,970-passenger cruise call in St. Kitts is expected to bring business to local shops and other small firms as the island pursues a record cruise season.

Caribbean Tourism: A 1,970-passenger cruise ship called at St. Kitts, giving nearby small businesses a boost as the island pursues a record cruise season. AI for Small Firms: Colombian startup Dapta raised US$6 million to grow its AI sales agents for Spanish-speaking businesses; it reports 200,000 users and customers including Rappi and Mercado Libre. Women-led Businesses: In Guyana, more than half of the firms backed by the Small Business Bureau’s loan-guarantee program are women-owned. The program has helped 177 businesses secure about G$1.6 billion in loans over six years. Digital Risk: A Mastercard study says fraud and cybersecurity concerns are weighing on digital growth among small and medium-sized businesses across Latin America and the Caribbean. Cross-border Payments: XTransfer launched a payment service in Chile, aiming to make international transactions easier for businesses. Growth Capital: Uruguay’s retail-technology firm Scanntech raised US$180 million to accelerate its international expansion.

Jamaica Tech: AIBotics has acquired NovaCore Labs’ operating assets, including drones, robots and mapping tools, to expand its technology business in Jamaica and the Caribbean. Women-Owned Firms: In Guyana, more than half of businesses using the Small Business Bureau’s loan-guarantee programme are women-owned. Over six years, 177 firms accessed about $1.6 billion in commercial loans. Digital Security: A Mastercard survey of 2,400 SMEs across 12 Latin American and Caribbean markets found that 51% fear fraud and cyberattacks could limit their use of digital payments. SMB AI: Latin American-founded Dapta raised $6 million to expand AI sales agents for small and midsize businesses in the U.S. and Latin America. Cuba’s Private Sector: Cuban entrepreneurs are increasingly securing U.S. fuel as shortages disrupt the island, shifting supply toward private businesses rather than the state.

Small-Business Finance: In Guyana, more than half of the businesses backed by the Small Business Bureau’s loan-guarantee programme are women-owned. Since 2020, 177 firms have secured about $1.6 billion in commercial loans, while 6,511 new businesses registered with the bureau. Cuba’s Private Sector: As fuel shipments from Venezuela stop, U.S. fuel is increasingly reaching Cuba’s private businesses, though shortages and blackouts continue to strain the island. Digital Security: A Mastercard survey of 2,400 SMEs across 12 Latin American and Caribbean markets found that 51% see fraud and cyberattacks as major barriers to expanding digital payments. AI in the Caribbean: Jamaican firms are moving beyond chatbots to AI tools that can handle tasks and business processes, even as the government’s national AI policy remains in development. Brazil’s Workweek: The Senate approved a 40-hour maximum workweek with no pay cuts, giving businesses 14 months to adapt. The change could bring new staffing and cost pressures for small firms.

Cuba’s Private Sector: With Venezuelan fuel supplies cut, American fuel is increasingly reaching Cuban private businesses rather than the government, a shift that could reshape how entrepreneurs keep operating amid power shortages. AI in the Caribbean: Jamaican firms are moving beyond chatbots to AI tools that handle work and business processes, even as the government’s national AI policy remains in development. Digital Security: A Mastercard survey of 2,400 small businesses across 12 Latin American and Caribbean markets found that 51% cite fraud and cyberattack fears as a barrier to expanding digital payments. Uruguay’s Scanntech: The retail-data company raised US$180 million to accelerate international expansion. It began with cash-register software for small shops before building a wider retail network. Brazil’s Workweek: The Senate approved a 40-hour weekly limit with no pay cut, giving businesses 14 months to adapt. SME Finance: The Caribbean Development Bank has launched an initiative targeting women-led firms.

Cybersecurity: Fraud is holding back digital growth for small firms across Latin America and the Caribbean: 51% of SMEs surveyed cited fraud and cyberattacks as barriers to using digital payments, while 48% said security concerns affect customer trust. Retail Technology: Uruguay’s Scanntech raised US$180 million to accelerate international expansion. The company grew from checkout software for small shops into a retail data network serving businesses across Latin America. Cross-Border Payments: XTransfer registered in Chile to expand payment services for SMEs trading internationally, addressing exporters’ challenges collecting payments across borders. Labor Policy: Brazil’s Senate approved a 40-hour workweek with no pay cuts, giving businesses 14 months to adapt to the change.

Tourism: Anguilla’s double win at the Caribbean World Travel Awards puts its restaurants, resorts and small tourism businesses in the spotlight. SME Security: A Mastercard survey of 2,400 businesses across 12 Latin American and Caribbean markets found 51% worry about fraud and cyberattacks, while 48% say security concerns weaken customer trust. Cross-Border Payments: XTransfer registered with Chile’s financial intelligence unit, laying groundwork for payment services aimed at exporters and other internationally trading SMEs. Growth Capital: Uruguay’s Scanntech raised US$180 million to fund international expansion; it grew from software serving small retailers into a regional retail-data business. Business Costs: Brazil approved a 40-hour workweek with no pay cuts, giving employers 14 months to adapt to the change.

SME Cybersecurity: Mastercard’s survey of 2,400 business owners across 12 Latin American and Caribbean markets found 51% fear fraud and cyberattacks are holding back digital payments, while 48% say security worries hurt customer trust. Tourism: Anguilla’s top Caribbean awards for food and luxury tourism also recognize local restaurants, resorts and small businesses. Cross-Border Trade: XTransfer registered in Chile to offer payment services to SMEs trading internationally, as the company reports a 79% year-on-year increase in collections from Chile. Retail Growth: Uruguay’s Scanntech raised US$180 million to accelerate expansion. The company grew from software for small shops into a regional retail-data business. Workforce: Brazil’s Senate approved a 40-hour workweek with two rest days and no wage cuts; businesses have 14 months to adapt. SME Tech: Latin America-linked startup Dapta raised US$6 million to expand AI sales agents for small and midsize businesses.

SME Cybersecurity: Mastercard’s survey of 2,400 business owners and decision-makers across 12 Latin American and Caribbean markets found that 51% see fraud and cyberattacks as major barriers to expanding digital payments. Brazilian Business Costs: The Senate approved a 40-hour workweek without a pay cut, giving businesses 14 months to adapt. President Lula also pledged debt relief for more than 3.6 million small businesses, though the plan has not yet taken effect. Cross-Border Trade: XTransfer has registered in Chile, opening the way for its payment services for SMEs engaged in international trade. The company says its Latin American collections rose 94% last year. Uruguay Scale-Up: Retail data company Scanntech raised US$180 million to accelerate international expansion. It began by building cash-register software for small shops before growing into a regional data network. Caribbean Enterprise: A grant will help restore a historic building in Roseau, Dominica, and support plans for a café where young people can learn small-business skills.

Growth Capital: Uruguay’s Scanntech, which began with checkout software for small shops, raised US$180 million to accelerate international expansion. Export Payments: XTransfer registered with Chile’s financial intelligence unit, clearing a local compliance step to offer cross-border payment services to exporting SMEs. Workweek Rules: Brazil’s Senate approved a 40-hour weekly limit without a pay cut; businesses would have 14 months to adjust, a major scheduling change for small employers. Digital Upgrade: A Caribbean Development Bank-funded initiative will help MSMEs in Barbados, Dominica, Grenada, Saint Lucia and St. Vincent and the Grenadines adopt digital tools and pursue regional and international markets. AI for SMBs: Dapta raised US$6 million to expand its AI sales agents for small and medium businesses in the U.S. and Latin America.