Law on Micro and Small Enterprises

  • Bolivia
  • 08/03/2017
  • Bufete Aguirre Soc Civ Abogados

Law No. 947 of May 11, 2017, Law on Micro and Small Enterprises has the purpose of potentiating,
strengthening and developing micro and small enterprises, establishing development policies, supported
commercialization, registration processes, consumer incentives and promoting goods produced by micro and
small enterprises, within the framework of the plural economy, prioritizing associative structures, aimed at
improving the quality of life and well living (Vivir Bien).

Micro and Small Enterprises shall have following main characteristics:

- Be sustainable in the intensive use of the personal and family workforce of the holder, and actively
incorporate waged labor. – Combine economic activity based on the holder’s knowledge and practical experience. – Apply machines and working tools, with limited access to markets and financing. – Produce mainly for the domestic market. – Dedicate to activities of transformation and marketing of its manufactured products and/or services.

These Micro and Small Enterprises can be (a) Productive Subsistence Units; (b) Productive Units of Simple
Reproduction; (c) Productive Units of Extended Reproduction.

They are classified according to the value of annual sales, the number of workers and equity.

The Ministry of Productive Development and Plural Economy will implement Micro and Small Enterprises Single
Registration System, a Productive Information System as well as Development Policies.

Source: Official Gazette Nº 965