Law establishing Ministry of Entrepreneurship sanctioned

President Lula has sanctioned the law establishing the Ministry of Entrepreneurship, Micro-enterprise, and Small Business, which is the 38th ministry of the Brazilian government.  

It has been operational since September 2023, initially established by a provisional measure issued by the federal government and later approved by Congress.

Led by Márcio França, the body was formed through the restructuring of the Ministry of Development, Industry, Trade, and Services (MDIC) as part of the ministerial reform in the latter half of last year.

The organ oversees policies, programs, and initiatives aimed at supporting and formalizing businesses, local production arrangements, and handicrafts. It also works to promote microcredit and facilitate access to financial resources.

According to data from the Brazilian Micro and Small Business Support Service (Sebrae), micro and small businesses make up nearly 21 million enterprises, representing 99 percent of all national companies.

The sector contributes to 27 percent of the Gross Domestic Product (GDP) and encompasses 54 percent of the jobs with formal contracts.