Cuba Will Legalize Small and Medium-Sized Businesses

WASHINGTON  – Today, Engage Cuba President James Williams released the following statement on the announcement that the Cuban government will legalize small and medium-sized private businesses.

 "We are very encouraged by the announcement that Cuba will legalize small and medium-sized private businesses. Significant expansion of private enterprise in Cuba will open the doors for economic growth for the Cuban people," President of Engage Cuba James Williams said. "This major step forward is yet another example of how increased engagement between our two countries is leading to changes in Cuba. As Cuba continues to make reforms, it's time for Congress to lift the travel and trade embargo to empower the Cuban people."

Prior to the announcement, the Cuban government has only allowed for "cuentapropistas," or "self-employed" workers to own businesses in 201 categories of work. Legalizing private enterprise beyond "self-employment" will allow the fastest growing sector of Cuba's economy to continue to expand. 

More information on the changes taking place in Cuba is available here. More information on entrepreneurial activity in Cuba's private sector is available here.