Despite the challenging circumstances facing the team and the local economy, day-to-day business remains stable and there is a lot of positive feedback, especially from the entrepreneurs participating in our BPN program.
Strong response from program participants
There continues to be a high demand for our programs and many entrepreneurs are interested in improving their business management skills through our training and coaching. We are particularly pleased with the consistently positive feedback we receive from participants. Our combination of in-depth business management training and individual coaching has proven to be extremely valuable for the development of their companies. Especially as there are fewer and fewer opportunities due to the reduced number of non-governmental organizations (NGOs).
Skills shortage as a major challenge
A key issue that concerns both BPN and local entrepreneurs is the search for qualified personnel. The ongoing exodus poses major challenges for companies, as many people, especially skilled workers, continue to leave the country. It is estimated that around 15% of the Nicaraguan population has now left the country. For the first time in a long time, however, this trend appears to be declining slightly. Remittances from abroad now account for around 25% of gross domestic product (GDP), which may increase prosperity in the country slightly, but could have a negative impact on productivity in the long term.
Declining number of NGOs and increasing cooperation with the government
The number of NGOs active in Nicaragua has fallen drastically. Of the former 8,000 or so NGOs, only around 2,000 are still active after many organizations - including churches - were forced to cease operations in recent months. This development creates a certain amount of uncertainty, particularly for employees in this sector.
However, BPN has so far succeeded in obtaining the necessary permits for continued operation, as we act neutrally and professionally. However, this requires increased cooperation with government agencies, which involves considerable administrative effort. At the same time, this new form of cooperation offers the opportunity to reach a broader public. It remains to be seen how this cooperation will develop in the future.
Outlook 2025
Despite the challenging conditions, BPN is optimistic about the future and is planning for a normal year in 2025. Our focus remains on helping as many entrepreneurs as possible in Nicaragua through business management training and individual coaching. The demand for both services remains high.
We would like to thank everyone involved for their support and commitment and look forward to continuing to bring about positive change in Nicaragua together.
