Third Conference “Good Ideas from Frontal Trust”

Webinar online / 25-05-2020
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Sutil and Swett made proposals to face these pandemic times.

On Friday May 8, the leaders of business associations Juan Sutil, Chairman of Confederación de la Producción y del Comercio, and Juan Pablo Swett, Chairman of Multigremial de Emprendedores, particited in a panel organized by Frontal Trust, had for objective to know, from their experiences in the real world, the impact of Coronavirus pandemic among its members.

At the meeting, which had the remote participation of more than 150 attendees, the panelists discussed what their associates are experiencing emotionally, financially and in terms of labor; analyzed the policies implemented by the government, the Central Bank and the CMF. From their own perspectives, they delivered proposals to confront better the complex situation. The Chairman of Multigremial de Emprendedores, Juan Pablo Swett, praised the initiative of Fogape Credits for small and medium-size companies, but pointed out that in order to get a real impact, it is essential that they extend beyond the crisis. “The US$ 24,000 million guaranteed is equivalent to eight months of small and medium–size companies’ sales. If we could lend those credits for a longer time, and always guaranteed by the State, rates would be being halved, which would produce a total change in the financing system that they have today”.

The fund that is being studied to finance small and medium–size companies, with contributions from the AFPs, was also part of the discussion. The Chairman of CPC pointed out that the funds accumulated in the AFPs “must be used smartly and properly managed by an AGF”, highlighting the role that pension funds have played in the growth and development of the country. Before finishing, both leaders sent a message to the audience. Swett was emphatic in saying that entrepreneurs cannot wait and that the time to support them is now. The Chairman of the CPC, meanwhile, pointed out that Coronavirus is revealing a very deep reality and made a call “to return to the essential, to be more modest and humbler, to get into less debt and to have aspirations feasible to fulfill in life”.