Bolivia's Economic Crisis: Micro-Businesses on the Brink

Bolivia's Economic Crisis Forces Micro-Businesses to Close: 'It Hurts to Close a Business' Amidst a deepening economic crisis, micro and small businesses in Bolivia are struggling to survive. Many are forced to make the difficult decision to sell their equipment and lay off employees. The situation is particularly dire for those in the tailoring and upholstery sectors, where rising material costs and falling demand have created a perfect storm. "It hurts, it really hurts to have to close a business that you've built from the ground up with so much work and effort," says Griselde Hinojosa, owner of a tailoring workshop that recently closed after 25 years in operation. Hinojosa had to lay off over 10 employees due to lack of income. The crisis is not limited to the tailoring industry. Upholsterers are also facing significant challenges. Belén Salas, a tapicero, explains, "Before, there was a little more work. Now, some days there's work, some days there's not much, and some days I just sit here." The cost of materials has increased dramatically, while clients are demanding lower prices. The president of FERMYPE, Celestino Celdaño, emphasizes the urgency of the situation, stating that many businesses are on the brink of collapse. He points to the lack of government support as a major factor contributing to the crisis. The video shows several business owners protesting in the streets, holding signs and displaying their unsold goods. Despite the grim circumstances, the resilience of Bolivian entrepreneurs shines through. Their stories serve as a stark reminder of the human cost of economic hardship and the need for effective solutions to support small businesses.