{"id":303167,"date":"2024-06-02T17:55:21","date_gmt":"2024-06-02T21:55:21","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=303167"},"modified":"2024-06-02T17:55:21","modified_gmt":"2024-06-02T21:55:21","slug":"expectations-hopes-and-uncertainty-reactions-to-u-s-announcements-for-entrepreneurs","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba-usa\/expectations-hopes-and-uncertainty-reactions-to-u-s-announcements-for-entrepreneurs\/","title":{"rendered":"Expectations, hopes and uncertainty: reactions to U.S. announcements for entrepreneurs"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">After the <\/span><a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy2374\" target=\"_blank\" rel=\"noopener\"><b>announcement<\/b><\/a><span style=\"font-weight: 400;\">\u00a0by the United States Department of the Treasury to put into practice measures, promised two years ago, to benefit the Cuban private sector, entrepreneurs on the island are waiting expectantly for the next step.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Businesspeople interviewed by <\/span><b>OnCuba<\/b><span style=\"font-weight: 400;\"> agree that it is a positive decision. However, several doubts remain about its actual implementation and permanence over time if U.S. President Joe Biden leaves the White House next January.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/entrepreneurship-in-cuba\/u-s-authorizes-cuban-entrepreneurs-to-open-u-s-bank-accounts-through-internet\/\" target=\"_blank\" rel=\"noopener\"><b>measures<\/b><\/a><span style=\"font-weight: 400;\"> include the ability to open and use U.S. banks through the Internet; export of software of Cuban origin from the United States to other countries; access to Internet services blocked for Cuba; and a financial decision to facilitate the sending of remittances.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"dYwJALvGVq\"><p><a href=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/entrepreneurship-in-cuba\/u-s-authorizes-cuban-entrepreneurs-to-open-u-s-bank-accounts-through-internet\/\">U.S. authorizes Cuban entrepreneurs to open U.S. bank accounts through Internet<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;U.S. authorizes Cuban entrepreneurs to open U.S. bank accounts through Internet&#8221; &#8212; OnCubaNews English\" src=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/entrepreneurship-in-cuba\/u-s-authorizes-cuban-entrepreneurs-to-open-u-s-bank-accounts-through-internet\/embed\/#?secret=B6L1rLjRjQ#?secret=dYwJALvGVq\" data-secret=\"dYwJALvGVq\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><b>Good news, but delayed<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThey are good, but late,\u201d Alfonso Larrea, director of the private enterprise EVEXCON, which organized the first <\/span><a href=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/entrepreneurship-in-cuba\/cuban-private-entrepreneurs-in-miami-closing-the-circle\/\" target=\"_blank\" rel=\"noopener\"><b>business meeting<\/b><\/a><span style=\"font-weight: 400;\"> of MSME owners with U.S. and Cuban-American counterparts last year, said this about the measures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The businessman stated that the announcement of this decision was expected at the end of 2023, but a campaign in Miami against MSMEs boycotted that intent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe U.S. government authorizes it, but the banks can provide the service or not, so now it remains to be seen what they\u2019ll do,\u201d he commented.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For her part, <\/span><a href=\"https:\/\/oncubanews.com\/author\/katiasanchez\" target=\"_blank\" rel=\"noopener\"><b>Katia S\u00e1nchez<\/b><\/a><span style=\"font-weight: 400;\">, CEO of the digital communication agency <\/span><a href=\"https:\/\/lapenultimacasa.com\/\" target=\"_blank\" rel=\"noopener\"><b>La Pen\u00faltima Casa<\/b><\/a><span style=\"font-weight: 400;\"> and host of a podcast that debates with Cuban entrepreneurs, assured that the measures do not take her by surprise, since there have been rumors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt was quite expected, but it\u2019s also been a long time coming,\u201d she said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAlthough there is optimism in the sector, we also have to wait to see how they develop, how they are put into effect and each of the associated specificities such as banks, taxes, risks, visas and other United States sanctions that could affect them,\u201d she said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The owner of the well-known light food brand <\/span><a href=\"https:\/\/juankyspan.com\/\" target=\"_blank\" rel=\"noopener\"><b>Juanky\u2019s Pan<\/b><\/a><span style=\"font-weight: 400;\">, Juan Carlos Blain, commented that he feels optimistic about the implementation of these decisions. However, he acknowledged that some moves that could have benefited the Cuban private sector have only been announcements.<\/span><\/p>\n<p><b>Possible benefits<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Alejandro Pe\u00f1alver, owner of the online sales site <\/span><a href=\"https:\/\/cbmtienda.com\/\" target=\"_blank\" rel=\"noopener\"><b>CBM Tienda<\/b><\/a><span style=\"font-weight: 400;\">, explained that, if implemented, the possibility of operating accounts in dollars would allow him to reduce financial costs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cToday we have a loss due to the exchange rate for the simple fact that clients pay in USD and I receive euros,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The young businessman also commented that it would be favorable to be able to access U.S. payment gateways, whose commissions are cheaper. \u201cThat would be a big advantage,\u201d he pointed out.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ease of financial operations, access to global financial services and greater integration into the international market are three of the benefits identified by Alain Pe\u00f1a, founding partner of the software MSME Pyxel Solutions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe decision to allow the export of software and mobile applications of Cuban origin from the United States represents a great opportunity for technological SMEs in our country. This opens the doors to a global market, allowing us to offer our products in international app stores,\u201d he said about another of the measures announced by the United States.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, Yulieta Hern\u00e1ndez, CEO of the enterprise <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/economia\/emprendimientos\/pasantias-con-pilares-construcciones-vinculos-universidad-empresa-para-futuros-arquitectos-e-ingenieros\/\" target=\"_blank\" rel=\"noopener\"><b>\u03c0lares Construcciones<\/b><\/a><span style=\"font-weight: 400;\">, assessed that the measures are very positive, taking into account the unfavorable context in which Cuban businesspeople work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe country is in a condition of sustained, structural crisis, which right now has very strong repercussions on the development of our businesses, that is, not even on growth but on ensuring that our businesses are maintained,\u201d she said.<\/span><\/p>\n<p><b>2024, election year<\/b><\/p>\n<p><span style=\"font-weight: 400;\">However, the biggest fear of entrepreneurs is that these measures advance, the money is deposited into the accounts and a change of U.S. administration results in restrictive policies that harm them financially.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The outlook is uncertain, given that the distance between Joe Biden and Donald Trump in voting intention is very small.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding this, Yulieta Hern\u00e1ndez reflected on the risks that exist, above all, due to Cuba\u2019s permanence on the list of state sponsors of terrorism.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cU.S. banking is private. There is a very high-risk perception with financial operations in Cuba. The question would be: how many banks are going to allow the opening of accounts? In my experience, I think there will be very few,\u201d she stated.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hern\u00e1ndez commented that, if there are very limited opportunities, due to the law of supply and demand, bank taxes would not be favorable for entrepreneurs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For his part, Liu Le\u00f3n, owner of the <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/economia\/emprendimientos\/software-cubano-de-contabilidad-accesible-desde-internet\/\" target=\"_blank\" rel=\"noopener\"><b>LiangWare software development<\/b><\/a><span style=\"font-weight: 400;\"> MSME, wondered how the opening of accounts from Cuba would be implemented, what documents would have to be shown, if it would be necessary to use VPN due to the blockade, or if the money could be repatriated to the country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, <\/span><a href=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/entrepreneurship-in-cuba\/greta-tilan-passion-for-oils\/\" target=\"_blank\" rel=\"noopener\"><b>Greta Til\u00e1n, an entrepreneur in the cosmetics sector<\/b><\/a><span style=\"font-weight: 400;\">, said she received the announcement of the measures with skepticism.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWill the banks take the risk? Will we entrepreneurs risk the possibility of accounts being frozen?\u201d she questioned. She stated that the outcome of the upcoming elections is crucial.<\/span><\/p>\n<p><b>It\u2019s just a first step<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe measures are positive, but they remain on the surface of the ocean and do not go deep, in harmony with the real needs of Cuban entrepreneurs,\u201d considered Miguel Hern\u00e1ndez, CEO of the local development project (LDP) <\/span><a href=\"https:\/\/colab.nat.cu\/\" target=\"_blank\" rel=\"noopener\"><b>Comunidad Colaborativa y Asesores<\/b><\/a><span style=\"font-weight: 400;\">, from Camag\u00fcey.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The economist, who runs this business consultancy, regretted that the new definition of entrepreneurs has not included LDPs like his, which are also private.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He commented that he still perceives few benefits for entrepreneurs when they are prevented from obtaining business visas and U.S. citizens are prevented from traveling to Cuba, for example.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, businesswoman Yulieta Hern\u00e1ndez encouraged the Biden administration to provide other support to the sector, such as granting business visas to Cubans and the possibility of access to credit and financing. \u201cThis is now a first step of many more that are necessary.\u201d<\/span><\/p>\n<p><b>From activism<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Professor <\/span><a href=\"https:\/\/oncubanews.com\/author\/carloslazop\/\" target=\"_blank\" rel=\"noopener\"><b>Carlos Lazo<\/b><\/a><span style=\"font-weight: 400;\">, leader of the Bridges of Love movement, explained to <\/span><b>OnCuba<\/b><span style=\"font-weight: 400;\"> that \u201cany measure that tends to alleviate the economic asphyxiation suffered by the Cuban people, no matter how small or insufficient it may be, is welcome.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the same time, he recalled that when at the beginning of May a group of Cuban-Americans from various organizations delivered <\/span><a href=\"https:\/\/oncubanews.com\/en\/cuba-usa\/open-letter-to-joe-biden-calls-for-united-states-to-normalize-its-relations-with-cuba\/\" target=\"_blank\" rel=\"noopener\"><b>a letter addressed to President Joe Biden<\/b><\/a> <span style=\"font-weight: 400;\">asking for an end to the sanctions against Cuba, at the State Department, \u201cthe same officials told us that they knew how difficult it was for the banks to allow even the little that was allowed in terms of transactions to Cuba due to fear of the list of terrorist countries. And that they, State Department officials, had called banks to clarify that there were things that could be done, precisely because the banks, in a position, as they say in English, over jealous, which means they did not want to get into trouble, were not allowed to do, in terms of transactions and bank accounts, not even what was allowed.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAlthough it is a positive measure, the effect it will have on the Cuban economy will be almost zero, if it has any effect at all; the effect on the self-employed is going to be almost zero if at all it has any effect&#8230;because the obstacles will continue for this type of bank accounts as long as Cuba is on the list of state sponsors of terrorism; even while the blockade exists, but above all that list makes banks very afraid of interpreting the measure in a certain way; knowing, furthermore, that President Donald Trump could again come out, and that he would reverse all those measures and they could even be sanctioned by the new administration or by another interpretation of the law.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt seems to me that it is perhaps an electoral move because President Biden and the administration at this moment feel that, first, those who did not vote for them, Republicans, Trumpists, are not going to vote for them; and second, those of us who vote for Biden, those of us who actively participate in his campaign, those of us who support the president on all fronts, many are disappointed. The perception I have is that they want to give a vote of punishment to the president for having done practically nothing and for having allowed the living conditions over there of the family of those of us who live here have deteriorated terribly; and that is due, in large part, to the continuation of Trump\u2019s policies under the Biden administration.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For its part, the Alliance for Cuba Engagement and Respect (ACERE) praised the Biden administration \u201cfor finally implementing long overdue regulations \u2014 initially announced two years ago \u2014 designed to support the growth and operations of Cuba\u2019s independent private sector and increase access to web-based services for all Cubans.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is affirmed in <\/span><a href=\"https:\/\/acere.org\/new-regulations-may-2024\/\" target=\"_blank\" rel=\"noopener\"><b>a statement<\/b><\/a><span style=\"font-weight: 400;\"> in which they add that \u201cCuba\u2019s rescission from the list is also vital to encourage the resumption of European tourism to Cuba, which particularly benefits Cuba\u2019s private Airbnb hosts, restaurateurs, taxi drivers, agricultural producers, cultural workers, and others.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cResuming nonimmigrant visa processing in Havana would help facilitate Cuban entrepreneurs\u2019 travel to the United States for business activities and the marketing of their goods and services, as well as their acquisition of essential U.S. products for use and sale in their businesses on the island,\u201d the statement continued.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhile ACERE expresses concern that these measures took two years to implement after having been announced in May 2022 \u2014 reportedly over pressure from members of Florida\u2019s congressional delegation \u2014 today\u2019s announcement shows that the Biden administration can and should pursue a foreign policy toward Cuba that not only bolsters the operations and market share of U.S. businesses and service providers on the island but also supports the Cuban people and civil society by removing obsolete, U.S.-imposed restrictions.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When consulted by OnCuba, owners of private enterprises and activists for the normalization of relations agree that this is a positive decision, but there are still several doubts.<\/p>\n","protected":false},"author":12346260,"featured_media":303186,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13944],"tags":[14891,14816,19256],"ppma_author":[34884],"class_list":["post-303167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuba-usa","tag-cuba-usa-relations","tag-cuban-economy","tag-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Expectations, hopes and uncertainty: reactions to U.S. announcements for entrepreneurs | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"When consulted by OnCuba, owners of private enterprises and activists for the normalization of relations agree that this is a positive decision, but there are still several doubts.\" \/>\n<meta name=\"robots\" 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