Resilience Through Uncertainty: Growing a Business in Peru
Peru has faced significant political and economic uncertainty in recent years. Since 2018, the country has cycled through six presidents amid repeated political crises, protests, and leadership changes, creating a challenging environment for businesses across the country.[1] For SMEs, navigating changing market conditions, rising costs, and cash flow pressures has required resilience and adaptability.
One business that has continued to grow through this environment is Focus Brands Peru, founded by Salvador Larco in Lima in 2021. The company specializes in corporate events, brand activations, and content marketing, serving clients across sectors including aviation, logistics, insurance, and financial services.
Peru is emerging as an attractive destination for the meetings, incentives, conferences and exhibitions (MICE) industry, ranked eighth by the International Congress and Convention Association (ICCA) among the top ten destinations for large-scale events in the Americas.[2] Salvador launched the business after identifying a gap in the market through another company he owned.
“The need became clear through another business I own, where I participated in various corporate events,” he explains.
From challenges to new opportunities.
As demand grew, so did the operational challenges. Event production requires significant upfront investment to secure venues, coordinate suppliers, and procure materials, often weeks before clients make payment. At the same time, supplier credit terms were limited, creating pressure on cash flow.
“We did not have the capacity to grow as we do now because event production requires a significant initial investment, and our suppliers usually do not work on credit. If they do, it is no more than eight days,” Salvador explains. To create tailored event production services, Focus Brands Peru must develop proposals and coordinate closely with suppliers to deliver each project. But like many small businesses in sectors reliant on strong operational relationships, the main constraint was not demand, it was cash flow.
These constraints became more pronounced as transportation costs increased, and sourcing disruptions required constant adjustments to suppliers and planning. As costs affected the movement of materials and equipment, client expectations also continued to evolve, often with requests for additional deliverables within Focus Brand Peru’s fixed budgets. While demand remained strong, limited working capital made it difficult to manage multiple projects simultaneously.
That changed when Focus Brands Peru accessed financing through AGC’s partner, Crece Capital.
AGC’s partner Crece Capital, helped us with cash flow, which in turn is allowing us to grow at a faster pace than we expected by having the necessary working capital
– Salvador Larco
With improved cash flow, the company was able to fund upfront project costs, strengthen supplier relationships, and take on additional business opportunities without disrupting existing operations.
“AGC’s partner Crece Capital helped us with cash flow, which in turn is allowing us to grow at a faster pace than we expected by having the necessary working capital,” Salvador shares.
Improvements from access to working capital positioned Focus Brands Peru to maintain reliable delivery timelines, respond quickly to client needs, and pursue new opportunities without compromising service quality.
As operations stabilized, new opportunities followed. Focus Brands Peru has expanded its client base, increased production capacity, and grown its team to 10 employees, including women in leadership positions across marketing, commercial, and account management. Working capital enabled the business to now work with more than 30 partner companies, supporting a broader network of suppliers and service providers.
One milestone from this expansion stands out in particular: supporting the organization of the official inauguration of Lima’s Jorge Chávez International Airport, an event attended by national authorities. For a small business, it was a moment that reflected the trust placed within their capability. “In all events, the positive feedback from clients makes us very proud of being able to bring creative ideas to life,” Salvador shares.
Looking ahead, Salvador plans to add new corporate clients and increase revenue over the next two years.
For AGC, Focus Brands Peru demonstrates how access to working capital can help SMEs remain resilient during periods of uncertainty. By supporting local lending partners such as Crece Capital, AGC helps businesses manage cash flow, seize growth opportunities, and continue contributing to employment and economic activity in their communities.
[1] https://www.pbs.org/newshour/world/political-turmoil-in-peru-threatens-decades-of-relative-financial-stability
[2] https://www.gob.pe/institucion/mincetur/noticias/1397811-mincetur-peru-entra-al-top-10-de-destinos-para-el-turismo-de-reuniones-en-america
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