March 2, 2017 |
If you want to know how a mom-and-pop business becomes a thriving small enterprise, just take a look at Bogotá-based candymakers Magoma.
“When our mom wasn't cooking us dinner, she was cooking gomitas,” says Angelica Buitrago Díaz, Magoma’s general manager, recalling the first years of the firm. “Then Dad would fill his suitcase with the candies and go sell them in internet cafes.”
Today Magoma turns out three tons of gomitas, as gummy candies are called in Colombia, every month. Its line of products includes tailor-made, car-shaped candy for corporate clients and gummies enriched with nutrients that are sold by pharmacy chains.
When Rosario Díaz and Rafael Buitrago started the company in
Big businesses are the exception in Latin America. Yet they still gobble up most of the available corporate credit. Across the region, governments are looking at ways to make small and midsize firms a more integral part of the formal economy