Micro and small enterprises drive economic growth in Peru and El Salvador

Micro and small enterprises (MYPE) are playing a significant role in the economic landscapes of Peru and El Salvador.

In Peru, MYPEs represent 99.2% of formal businesses, accounting for over 2.4 million companies and 10.3 million jobs. They contribute 20.6% to the national GDP. Recent data shows a growing demand for flexible office spaces, particularly private offices for entire teams rather than individual desks. This shift, noted by operators like Growyard in Lima, allows expanding startups to scale infrastructure quickly without long-term contracts or high upfront costs for furniture and maintenance.

In El Salvador, CONAMYPE head Paul Steiner highlighted that MYPEs are vital to national economic growth and are increasingly participating in exports. Steiner noted that improved security has facilitated the opening of new neighborhood businesses. The Salvadoran government continues to provide tools and institutional support to empower these businesses and promote a bottom-up economic model.