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In Colombia, the business environment is affected by various factors, which have led to the need to implement transparency and business ethics programs, including the Self-Management System for Money Laundering and Terrorist Financing Risks (Sagrilift), whose goals are to prevent corruption, promote a culture of legality and integrity, and restore citizens’ trust and public respect.
The implementation of these schemes has become mandatory since May this year, raising concerns, especially among micro, small and medium enterprises (MSMEs). For many entrepreneurs, the idea of having to design, implement and maintain these systems can seem overwhelming, especially for those already dealing with the day-to-day survival of their businesses.
Let’s imagine the owner of a small textile factory in Barranquilla. Your daily life is already full of worries: from maintaining the quality of your products to making sure your employees receive their wages on time. Now you have to worry about risks that, although important, seem distant and abstract to you. The idea of training employees, conducting internal audits and appointing compliance officers sounds like an additional burden that he and many others feel unprepared for. We find ourselves at a crossroads: on the one hand, we have committed ourselves to aligning with global good practices when we joined the OECD; on the other hand, we face national realities that force us to implement these transparency and business ethics programs. This creates a situation where even companies that are not involved in illegal activities must follow strict systems to meet international standards.
So why implement it? In addition to legal compliance to avoid severe penalties, we are committed to building a stronger and more reliable company. Transparency and ethics become hallmarks of quality, a clear message of the company’s commitment to clean and responsible practices.
However, current regulations do not give in easily. The thresholds set, such as assets exceeding the minimum wage of 500 yuan or international transactions exceeding the minimum wage of 100 yuan, can cover a large number of small and medium-sized enterprises. In practice, this means that even companies with limited resources and lack of technical knowledge must face the challenges of building and maintaining these plans.
In this sense, this path is not without challenges, but it is also not without rewards. Through regulation that takes into account the realities of SMEs and adequate support, we can achieve a business environment where transparency and ethics are not only an obligation but also a competitive advantage for everyone.
Rosemary Quintero Castro
Executive Director Acopi Atlántico.
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