Cuba has begun to open its economy to integration, most importantly, with the United States. However, their economy has been suffering due to two major economic shocks, which has resulted in the Cuban communist regime introducing new economic and regulatory reforms. These reforms have spurred a transition to a more market-based economy as the Cuban people have been given more opportunities than ever before to establish ownership over small businesses in approximately 200 categories. However, the prospective entrepreneurs in Cuba are hampered by several challenges such as a complex and often contradictory regulatory environment that prevent smaller, private businesses from flourishing due to a dearth of experienced entrepreneurs, mentors,
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Background
Cuba is an island country in the Caribbean located 485 miles south of Florida. It has been governed by an authoritarian socialist regime since 1959 when Fidel Castro overthrew United States-backed dictator Fulgencio Batista and chose to align with the Soviet Union during the Cold War. Castro transferred power to his brother Raul Castro in 2008 and the Castro regime has endured to this day, despite U.S. attempts to overthrow the regime. Moreover, Cuba’s economy has suffered from not only from the trade embargo on Cuban imports, but economic growth has fallen this past year due to falling prices of refined oil, nickel, and sugar, three major exports, as well as a 40% cut in oil supply from Venezuela (Gendreau, 2016). The repressive government has made it very difficult for Cuban citizens to express …show more content…
This program provides promising participants with “experiential learning and mentoring opportunities” through advising, networking and partnering with American academic institutions (Start Up Cuba, 2017). Start Up Cuba recognizes the difficulty of finding business mentors and resources, and the rising emergence of private business ownership in Cuba (Start Up 2017). Although the program has a high graduation rate, the classes have a current limit of only thirty participants per class. This program is successful to a limited extent, but the scope of its reach needs to be broadened in order to provide this type of opportunity to more prospective
Background
Cuba is an island country in the Caribbean located 485 miles south of Florida. It has been governed by an authoritarian socialist regime since 1959 when Fidel Castro overthrew United States-backed dictator Fulgencio Batista and chose to align with the Soviet Union during the Cold War. Castro transferred power to his brother Raul Castro in 2008 and the Castro regime has endured to this day, despite U.S. attempts to overthrow the regime. Moreover, Cuba’s economy has suffered from not only from the trade embargo on Cuban imports, but economic growth has fallen this past year due to falling prices of refined oil, nickel, and sugar, three major exports, as well as a 40% cut in oil supply from Venezuela (Gendreau, 2016). The repressive government has made it very difficult for Cuban citizens to express …show more content…
This program provides promising participants with “experiential learning and mentoring opportunities” through advising, networking and partnering with American academic institutions (Start Up Cuba, 2017). Start Up Cuba recognizes the difficulty of finding business mentors and resources, and the rising emergence of private business ownership in Cuba (Start Up 2017). Although the program has a high graduation rate, the classes have a current limit of only thirty participants per class. This program is successful to a limited extent, but the scope of its reach needs to be broadened in order to provide this type of opportunity to more prospective