In Colombia, building businesses by bridging the digital divide

“In 10 years, I see myself with a bigger company that can help more people. I want to have more employees, more people who become part of my family.”

Rosa Rodrigues is the owner of Renacer, a stamping and branding firm in Bogota, Colombia, one of the millions of micro, small and medium-size businesses that power the country’s economy. While these enterprises comprise more than 99% of the country’s businesses and generate nearly 80% of Colombia’s jobs, they still struggle with income volatility and are underpowered when it comes to accessing the digital solutions they need to build resilience and grow.

To help entrepreneurs like Rodrigues make their mark, the Mastercard Center for Inclusive Growth last month launched Mastercard Strive Colombia, part of its global initiative to help digitally transform small businesses. Programs like Strive played a critical role in helping Mastercard fulfill its commitment to bring 50 million small businesses into the digital economy through card acceptance by 2025, a goal it recently met.

Through partnerships with Fundación Capital, Common Cents Lab, the Center for Economic Studies-ANIF and the Financial Access Initiative of New York University, the program seeks to support more than 80,000 micro and small businesses in Colombia, helping them access new markets, develop sales channels, expand their businesses and implement digital marketing strategies. Tailored solutions will help them improve their liquidity management and the high volatility their businesses face.

To learn more about Mastercard Strive, watch the video below.