Independent Small Business Grows in Cuba
This is Miguel. He is an independent business owner in Vedado, Havana. He has set up shop, beside a school, and sells fried snacks to students. His prices are very low. Most of his products only cost 1 or 2 pesos (moneda nacional). Nevertheless, he is able to earn a salary which is well above average. Considering that he sells about 150 items per day, we can estimate that his daily revenue is about 10 CUC. That translates to a yearly revenue of over 2500 CUC. At a 50% profit margin, he is able to take home over 1000 CUC, after taxes.
Miguel is a shining example of the opportunity for small business in Cuba. He works hard, but he is happy. He is almost 90 years old, but he still loves to get up every morning and work for himself and provide for his family. He is proud.
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