2024-04-18 20:49:54
According to the latest Global Entrepreneurship Monitoring report, entrepreneurship is experiencing a resurgence around the world, with more than 580 million people involved in entrepreneurial initiatives. This increase is especially notable following the challenges posed by the Covid-19 pandemic.
Colombia leads this entrepreneurial drive in Latin America, ranking 45th worldwide. Microbusinesses represent close to 95% of the country’s business fabric, with a total of 1,740,168 companies registered and renewed until the end of 2023.
In Valle del Cauca, entrepreneurial activity is equally robust, with approximately 114,000 micro, small and medium-sized businesses registered, with 98% of them classified as SMEs. In Cali, the number of companies registered with the Chamber of Commerce has experienced a growth of 4.9% compared to the previous year, driven largely by the dynamism of micro and small businesses.
World Entrepreneurship Day, celebrated on April 16, provides an opportunity to reflect on the vital role entrepreneurs play in the global economy. People like Melany Correa, founder of ‘NatuLove’, and Erika Doneys, creator of the brand ‘Sunku’, represent the driving force behind this phenomenon. Both have overcome significant challenges on their path to success, from a lack of environmental awareness to the struggle to establish recognized brands in a competitive market.
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Despite this encouraging outlook, entrepreneurs continue to face obstacles, such as difficulty accessing early financing and lack of institutional support. In response to these needs, the Interinstitutional Financial Inclusion Roundtable has presented the report ‘Financial inclusion recommendations for local governments’ in Bogotá, Medellín and Cali, with the aim of strengthening the entrepreneurial ecosystem and guaranteeing equitable access to financial opportunities.
Experts in the field of entrepreneurship emphasize the importance of business education and the development of personal and business skills. The WWB Colombia Foundation, for example, has trained more than 23,000 people and advised more than 3,000 businesses in the last year, contributing to the growth and sustainability of local enterprises.
In a country where MSMEs represent 99% of companies and generate 80% of employment, continuous support for entrepreneurs is essential to promote economic and social prosperity. With a focus on financial inclusion, capacity building and creating support networks, Colombia is laying the foundation for a more equitable and prosperous future for all its entrepreneurial citizens.
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