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Central America Invests in Innovation: 73% of Companies Plan New Product Development to Meet Customer Needs
By Guy José Bendaña-Guerrero & Asociados
A recent KPMG regional business report reveals a strong focus on innovation among companies in Central America and the Dominican Republic, with 73% planning the development of new products to better serve customer needs in 2026.
The study, Regional and Business Prospects 2026: Strategies to Drive Innovation in a Challenging Environment, shows that businesses in the region are not only optimistic about growth but are also proactively looking to innovate despite economic and regulatory challenges.
According to the report, 89% of senior executives expect sales to increase in the coming year, with most forecasting moderate growth—a key sign of confidence in the regional economy. However, companies also face significant hurdles. The biggest challenge reported by 60% of respondents is attracting both domestic and foreign investment, while 44% point to the need for supportive public policies that encourage private investment.
Other critical operational challenges include:
-Talent attraction and retention, identified by about 45% of companies.
-Complex and burdensome tax compliance requirements.
-Regulatory changes and limitations in technical skills within internal teams.
-Strategic Priorities and Innovation Focus
Innovation and technology are high on the agenda for companies in the region. The report highlights that:
-62% plan significant investment in analytics and data technology.
-56% intend to invest in cloud solutions.
-54% are focusing on new applications and digital tools.
Artificial intelligence (AI) is also gaining traction, with many executives indicating plans to use it to improve customer experience, enhance operational efficiency, and reduce costs.
Despite the positive direction, the maturity level of innovation varies widely—only 15% of companies are at an advanced stage focusing on continuous improvement, while a significant portion remain in early or reactive innovation stages.
Growth Strategies and Nearshoring
Companies are exploring geographic expansion as part of their growth strategy. While some are leveraging nearshoring opportunities, 35% do not yet consider it central to their strategy, and others are planning to strengthen technical capabilities to benefit from these trends. Expansion plans include:
-Nearly 40% planning to expand nationally.
-24% looking to expand internationally to access new markets and form strategic alliances
Guy José Bendaña-Guerrero & Asociados
GUY JOSE BENDAÑA GUERRERO & ASOCIADOS has a long and prosperous tradition in the field of intellectual property (IP) in Nicaragua, with roots that go back to more than 100 years, resulting on long-term relationships with renowned clients and attorneys worldwide.
The firm has its origins in the law firm Henry Caldera & Henry Caldera-Pallais, founded in 1907 by Mr. Henry Caldera. That same year of 1907, through the efforts of Mr. Caldera, Nicaragua had its first Trademark Law. In the late 1930’s, Mr. Caldera’s oldest son, Dr. Henry Caldera-Pallais, after studying law in Nicaragua, attended the University of Michigan, where he graduated as a Registered U.S. Patent Attorney. Dr. Caldera-Pallais in 1964 was a founding member of the Interamerican Association of Intellectual Property (ASIPI), the first regional intellectual property organization in the Americas. The firm continued to grow during the administration of Dr. Franklin Caldera, son of Dr. Caldera-Pallais, who obtained his doctoral degree in law from the Universidad Centroamericana in 1973.
Since 1985 the current partners, Dr. Guy José Bendaña Guerrero and Mrs. Blanca Aragón de Bendaña, took over the management of the firm. Dr. Bendaña Guerrero, Director of the firm, has distinguished himself as one of the most respected authorities in Central America in the field of intellectual property and law in general, being the author of several books such as “Course of Industrial Property Law”, “Study of the new Laws of Industrial Property” and “New Study of Contracts “, among others. Mrs. Aragón de Bendaña has served as the firm’s general manager and, thanks to her excellent management, the firm has been in constant growth, with a highly qualified staff committed to excellence. Since 1996, partner Julián José Bendaña Aragón joined the firm, and has been standing out as one of the most recognized attorneys in the field of intellectual property.
We have adapted to the constant change of the business world, supporting our clients in finding the most appropriate legal solutions for each moment. The firm distinguishes itself by understanding the needs of its clients, offering personalized service and adding value to its activities.
Nowadays we continue to be the leading firm in Nicaragua in the area of intellectual property, and at the same time, we have been consolidating other areas of service within the civil, commercial and labor fields, as well as litigation and consulting in general. The firm is well positioned to guarantee a pragmatic service that meets the requirements of the most demanding clients.
