$3 billion for entrepreneurship initiatives targets subsistence miners

$3 billion for entrepreneurship initiatives targets subsistence miners

The SENA Enterprise Fund has extended a closed invitation in order to support the development of new business ideas within any economic sector corresponding to or undertaken by these miners.

Ministry of Mines and Energy. Bogota D.C. September 24th, 2018. The Ministry of Mines and Energy and the SENA Enterprise Fund will assign $3 billion for financing up to 35 new entrepreneurship initiatives and creating 125 jobs within any economic sector corresponding to or undertaken by subsistence miners, whose work involves the extraction of precious metals as well as precious and semi-precious stones, clay, gavel and sands from rivers, which are used by the construction industry.

With these resources, the National Government seeks to address the need to support the intervention of these subsistence miners, seeking to improve their quality of life, by implementing a job training program that includes putting in practice a series of productive projects for different sectors of the national economy.

Likewise, it also intends to address the needs of mining institutions in terms of organizing and improving sector management, by proposing alternatives for those miners who cannot continue their activities due to environmental or technical restrictions, or those who do not want to continue as a result of socioeconomic conditions.

 "This Administration is working to improve the lives of Colombians, and the changes begin now. From the Ministry of Mines and Energy, we have made a commitment to subsistence miners and will provide opportunities as well as offer alternatives in terms of equality and entrepreneurship for them. Through the efforts of Ministry, together with the support of entities such as the SENA, we are building a better future for all of our miners and for the sector," said Carolina Rojas Hayes, the Vice-Minister of Mines.

In this respect, seeking to help subsistence miners, the Enterprise Fund shall grant between 60 and 140 million pesos to each business plan, and the available categories for financing are labor, infrastructure, equipment and machinery, production inputs, among others. These plans must describe the proposed solution, its development, financial structure and the operational plan, as well as fulfill the requirements established by the Enterprise Fund.

 This invitation has been set for Monday September 24th and will have three closing dates. First, December 14th of 2018. Next, January 16th of 2019. Finally, February 20th of 2019.  

The winners shall receive support from a leading advisor of the Enterprise Fund during the setup of their business, which shall consist of supervising and guiding entrepreneurs in order to develop their business plan.    

According to the Director of Employment and Enterprise at the SENA, Hernan Fuentes, this new invitation focused on the sector of subsistence mining  has the support of the Ministry of Mines and Energy, achieving great importance for the subsistence miners as a result of helping them seek other sources of employment and income within different economic segments.

"These resources are essential in order to improve the quality of life of subsistence miners, promoting good practices and productive training by presenting other options for those who wish to become entrepreneurs in other sectors," said Fuentes. And he adds that "For that reason, this invitation is our response to the needs of said population group".

Since its creation, the SENA Entrepreneur Fund has financed 6,865 new business plans and has generated 26,862 jobs with authorized resources worth over $538 billion, which have had an impact on 768 municipalities.

Monday, September 24, 2018, Cundinamarca, Bogotá D.C., Source: MinMinas
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