Trade network in Uruguay

 At the end of 2007, STRO signed an agreement with Empretec Uruguay.
Empretec is a network of innovative businesses initiated by the UN. The objective of the agreement is for Empretec to set up a large trade network, based on the STRO approach.
The presence and commitment of the Minister of Labour and the president of the Development Bank emphasized the importance that the Uruguayan government attaches to this new trade form.

Uruguay can indeed use a trade network that provides small entrepreneurs with concrete opportunities. The country was dragged along in the economic crisis of its neighbouring country Argentina. Whereas Argentina is recovering fairly well, Uruguay has not pulled through yet. The crisis was a hard blow for the middle-class, of whom some lost everything or became homeless. The unemployment rate is high, due to which a large part of the well educated youngsters is forced to earn their living abroad.

What will the network look like?
The trade network Uruguay will be developed according to the C3 formula that STRO also implements in other regions. However, in Uruguay STRO chose for a new approach, which might also work out well for other C3s.
Small businesses cannot obtain the same payment guarantees that large businesses receive. C3 Uruguay is going to work with a guarantee fund that will assure small businesses of payment on delivery in internal C3 money. In such case these small businesses do not have to wait for months until they receive payment and are therefore able to maintain their stock level. In the capital Montevideo, where over a half of the Uruguayan population lives, the same method of payment on delivery in internal C3 units to small businesses will be followed.
For STRO this new C3 approach is a fascinating experiment, because large partners have joined in. We therefore hope to gain more insight in what a C3 business network can do with a complementary currency in a poor country.

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