The study updates sector data and highlights key challenges for business growth.
By Institutional Communications
Universidad del Sagrado Corazón and the Puerto Rico Retailers Association (CUD, by its Spanish acronym) recently presented the results of the study Profile of SMEs in Puerto Rico, a research project that examines the characteristics, challenges, and obstacles faced by small and medium-sized enterprises.
Led by Dr. Doris Morales-Rodríguez, researcher and assistant professor in the Entrepreneurship program at Sagrado, the study aimed to develop an updated profile of SMEs across Puerto Rico’s business landscape. The research analyzed 141 SMEs affiliated with CUD and found that while the sector demonstrates resilience, it faces growth limitations due to economic pressures and government processes that hinder operations.
Among the main challenges identified are high energy costs, competition, government regulations, deficiencies in electrical infrastructure, and a shortage of human resources.
“Small businesses are what feed Puerto Rico’s population. Challenges related to permits, labor disruptions, access to capital, and other factors show that, although we have made progress, entrepreneurs are often vilified and face obstacles in building capital,” said Dr. Ramón Barquín III, president of CUD.
In addition to providing updated, high-impact data for the business sector, this partnership aligns with Sagrado’s 2030 Strategic Plan, which seeks to strengthen its role as a research-driven university.
“This research marks a milestone in our history because it represents the kind of work we aim to promote—research that enhances our students’ academic experience while generating knowledge with a real and positive impact on the island,” said Dr. Anuchka Ramos Ruiz, provost and executive vice president of Academic and Student Affairs.
The event brought together members of CUD, faculty, students, and the research team, which included co-investigator Wilmarí de Jesús Álvarez, along with students Tanysha Molina, Jammal Rivera, Germán Malavé, and Eliezer Bruno from the Ferré Rangel School of Communication.
The discussion panel was moderated by Dr. Dennis Román Roa, dean of the School of Business, and featured leaders from both academia and the business sector: Alan Taveras, president-elect of CUD; Alfonso F. Lam Veloz, member of CUD’s Board of Directors; Eng. Sandra Pedraza, dean of the School of General Education; and Dr. Doris Morales-Rodríguez. The conversation focused on the impact of the findings on Puerto Rico’s business sector.
Taveras noted that the study represents a first step toward advancing the sector’s development, emphasizing education as a key driver in shaping an entrepreneurial mindset. The discussion also explored ideas to strengthen entrepreneurship education.
For her part, Dean Pedraza warned that an “insular mindset” remains one of the main shortcomings in business education, as it isolates entrepreneurs from the global context that affects their operations. She also stressed the need to strengthen digital skills at the university level, noting that less than 10% of surveyed companies’ sales come from digital platforms, according to the study.
Both Pedraza and Professor Pauline Olmedo, academic leader in entrepreneurship, reaffirmed the institution’s commitment to maintaining entrepreneurship courses as a core component of academic training, regardless of students’ fields of study.
Beyond offering a diagnosis, the study provides recommendations to address structural challenges in the sector and reinforces the role of SMEs as a key driver of Puerto Rico’s economic development. The full report is available for download in Spanish on CUD’s website: Perfil de PYMES en Puerto Rico.