74 more difficult for SMEs to develop and grow. Inflation jumped from 8.83% in 2007, when CFK assumed presidency, to 25.68% in 2017, when Macri was in office. When Fernández assumed office in 2019, inflation doubled to 53.55% before dropping to 42.02% in 2020 (Franken et al., 2020). Political uncertainty affects the entire country—this volatility is especially concerning for small business owners whose growth is hindered by constant changes in the political landscape. For Argentine SMEs, it is impossible to create strategic long-term business plans that extend over a span of more than four years because of the constant changes in political power. It is difficult for SMEs to make large investments in capital and infrastructure if future borrowing rates are subject to a high level of variability. This results in most small businesses waiting to make major capital purchases using cash, rather than taking out any type of loan or credit line, thus leading to slow growth and productivity. The failure of the government to provide a stable, level, and manageable economic playing field causes SMEs to be hesitant in relying on any new programs the government releases. The loss of trust in the government system makes it even less likely to want to rely on the government and any new programs that may be released. The aggregated effect of the lack of accessible financial institutions, complicated tax structures, and political uncertainty is contributing to the inability of Argentine SMEs to be competitive on the global stage. These pressing issues are impacting the capability of SMEs to create a sustainable environment for their employees and prevent them from further expanding their operations. Addressing the Challenges Despite the myriad problems facing Argentina, there do exist plausible recommendations to foster a sustainable climate for SMEs. An extensive review of the efficiency of current support programs in Argentina and research into effective strategies of other countries underly the suggested solutions for each of the three identified problem areas: expanded community-based financing infrastructures, taxation reform, and enhanced economic consistency across presidential terms. Community-based Support Given the lack of trust in and access to formal financial systems in Argentina, focus should be directed on promoting the use of community-based financial infrastructures rather than large banks. A 2016 IDB report analyzed the effects of 40 separate SME business-support services globally and conclusively found that such interventions support SMEs in improving firm performance and generating more job creation (Cravo & Piza, 2016). Expanding on the effectiveness of current support systems at local, federal, and international levels could further enhance the benefits for SMEs in multiple industries. Throughout the past decades, Argentina has rigorously created a multitude of SME support programs at various levels of government and in the private sector. Many of these programs that operate at the local or municipal level tend to be operated by private organizations that consist of chambers, alliances, and partnerships spearheaded by leaders in each industry. Generally speaking, their objectives are to bring together small businesses in related industries to share resources and opportunities. As an example, Cámara Argentina del Maní, the Argentine Peanut Chamber, is a network of Argentine peanut farmers, shellers, exporters, brokers, and freight servicing providers whose mission is to collectively promote the development of a socially and environmentally sustainable Argentine peanut industry (Cámara Argentina del Maní, 2021). Conversations with Eduardo Nervi, the President of the Board of Directors of the Argentine Peanut Chamber, demonstrate that such alliances are effective and valuable for peanut farmers who rely on this network to connect with various other SMEs throughout the peanut production and distribution chain (personal communication, June 9, 2020). On a federal level, Argentina has pushed for a variety of initiatives to support developing SMEs. To illustrate, the Argentine Technological Fund (FONTAR) was established in 1995 to finance projects aimed at improving the productivity of the private sector through technological
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