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Entrepreneurship-friendly legislation

By Bufete Mejía & Asociados - 18/12/2020

To celebrate the Global Entrepreneurship Week in Honduras, Bufete Mejía & Asociados participated on December 9, 2020, on a panel about the country’s entrepreneurship legislation to update lawyers and creators on the laws that regulate Honduras entrepreneurship industry. 

The Global Entrepreneurship Week is a collection of tens of thousands of events, activities and competitions carried out worldwide each November that inspire millions of creators to explore their potential as entrepreneurs while fostering connections and increasing collaboration within their ecosystems. Powered by the Kauffman Foundation, the Global Entrepreneurship Week has expanded to more than 170 nations since its launch in 2008 with 20,000 partner organizations now serving as community-building backbone.

In Honduras, the Central American Technological University (UNITEC), one of the region’s top universities and acclaimed internationally for its academic excellence, high technology and promotion of entrepreneurship, teamed up with the United States Agency for International Development (USAID) and non-profit social enterprise Tech4Dev to organize a conference. The event was moderated by Blanca Mejía, associate of Bufete Mejía & Asociados and Vice President for the Mejia Initiative on Intellectual Property Promotion and Protection. Mrs. Mejía insisted on the need of innovation as a driver of economies and of regulations that help inspire more entrepreneurs and limit bureaucratic barriers.

The first panelist was Carlos Valdiviezo, creator of two of Honduras most popular mobile applications: Finde and Dokto, focused on organizing weekend getaways and on patient-doctor communication, respectively. Member of the Association of Entrepreneurs of Honduras (ASEHN), Mr. Valdiviezo talked about his experience on the country’s entrepreneurial system and explained how to transform ideas into businesses. “It is a long road which must be managed in an organized manner. First of all, creators must know if they have a real business model to follow and once they know they have it they need to design and execute a detailed plan. Knowing how to carry this properly is what determines the survival of an idea,” he said. As part of ASEHN, Mr. Valdiviezo also highlighted the relevance of formalizing a business and start paying taxes, which will allow access to government loan programs, bank accounts, credit history and expanded sales opportunities. 

“I think Carlos can inspire many of our participants today,” Mrs. Mejía stated. “He can connect with other future creators, teach them and improve their skills. It seems extremely successful to have today with us someone with so much experience and so adventurous, and I am sure that many in the audience will feel identified with what he has done and with the advice he gave from ASEHN,” she added. 

The second panelist was Christian Betancourt, associate at Consortium Legal-Honduras, who answered the most frequent legal and administrative doubts that entrepreneurs have when entering the market. Mr. Betancourt explained the national and local legislation on the matter and detailed everyone on the first steps needed to register a business. He focused on the importance of hiring a lawyer but also an accountant -dependent, independent or through the outsourcing of a company- for all tax matters. Mr. Betancourt also talked about the Certified B Corporations, businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.

“I’m glad to know that Honduras is trying to simplify processes for entrepreneurs, pushed by the digital age, and I hope legislation can move in that direction and strengthen the use of tele-economy with considerations such as efficiency, demand, supply, the structure and the operation of the market,” Mrs. Mejía concluded.

The third and last panelist was Elena Toledo, Director of Communication of Fundación Eléutera, a non-profit organization that was established in 2013 and that is dedicated to influencing the life of creators through the reform and proposal of public policies. Fundación Eléutera is part of an international network of public policy study centers and frequently. Mrs. Toledo praised the hard work of entrepreneurs “who continuously learn and insist on their dreams” and called policy makers to give them the tools to make “their entire scaffolding easier and easier”. While admiring entrepreneurs effort, she talked about the importance of individual resilience, which involves behaviors, thoughts, and actions that promote personal wellbeing and mental health. “People can develop the ability to withstand, adapt to, and recover from adversity,” she stated. 

You can watch the full event here.

By Bufete Mejía & Asociados - 18/12/2020
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Bufete Mejía & Asociados

We are a leading firm in Honduras capable of giving an agile and effective service. Our offices are in San Pedro Sula and Teguacigalpa, and we have associates and correspondents around the world.

We are a specialized firm, that gives integral services in Intellectual Property, such as presentations, support, defense and maintenance of patents, trademarks, copyright, design and geographical indications.

Our Firm has been identified as the best IP firm in Honduras by the prestigious publication Latin Lawyer for the last five years.