Brazilian micro and small businesses are growing as exporters and bringing positive results to the country by selling higher-value products and boosting the economy. Aidu, with its food-grade aerosol, and Açaí Town are two successful ventures in the international market.
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The program will support over 2,000 small tourism companies in the country for three years with USD 133 million. The goal is to strengthen the sector.
Ebury started operating with a team in Brazil five months ago, and it works with specialty solutions for small- and medium-sized enterprises. Its operations include invoices from foreign clients and customized foreign exchange rate risk management strategies.
Seven out of ten small- and medium-sized enterprises in Brazil have been selling their products online since the pandemic started.
The Public Authority for Industry said 1,000 companies got USD 582 million in financing over the last three years.
The credit line will finance reforms for private investments promotion, small businesses, social program and alternative energy.
Small- and medium-sized enterprises also employ 42% of the emirate’s total workforce, as per estimates from the CEO of Dubai FDI.