As of November 2016, there were more than four hundred Act 20 decrees approved for operation in Puerto Rico. For a country that has not registered economic growth since 2006, this represents a new chance to recover from a seventy thousand million financial deficit.
The significant growth of small businesses in Puerto Rico is a collaborative work between the government and more than 30 organizations that represent the interests of this growing sector.
From the small town cafeteria that has been passed down for generations, to the young unexperienced aspiring entrepreneur that refuses to leave the island, and the new residents from different parts of the world; Puerto Rico has experienced substantial growth in the small business industry.
As a recent graduate that has navigated the job market, this is a topic that represents an opportunity for discussion. Completing a degree is a big achievement, one that you should be very proud of. Although, when the graduation date is drawing close there are two words that can vanish the excitement and those are, job hunting.
During the last two years, much has been written about the Act 20 companies that are established in Puerto Rico. From the asserted notion that they came to save money, to other -not so positive- scenarios related to the financial crisis that Puerto Rico has been facing since the year 2008.