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An understanding of entrepreneurial activity in Colombia and how it can be boosted, from a Millennial’s perspective

Tovar Mesa, Gina Katherine (2021) An understanding of entrepreneurial activity in Colombia and how it can be boosted, from a Millennial’s perspective. Masters thesis, Dublin, National College of Ireland.

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Abstract

Millennials are in their most productive stage of life, and at the same time, previous generations are retiring. It is well-established that the world is constantly changing because of globalization and the digital revolution. Moreover, the enterprise is es-sential for economic growth, and entrepreneurs are important for society for the purpose of building social and economic values. This study aims to determine how entrepreneurial activity in Colombia done by Millennials can be boosted by the gov-ernment and its institutions. Specifically, it investigates the millennial born between 1981 and 1990, contemplating their traits and their experience as entrepreneurs. Then, the context to start a new business in Colombia, and lastly, the contributions of millennial entrepreneurship in society.

For the purpose of answering the research question, semi-structured interviews were done to know from first-hand experiences and perceptions about this specific subject matter. Interviews were analysed to find common responses between the participants. The results showed that the main motivation to be an entrepreneur is to connect passions to a business idea, the main challenges faced during their jour-ney are related to lack of experience in business, lack of knowledge in specific ar-eas, and the main limitation is funding. Furthermore, the findings supported the fact that entrepreneurs directly impact the economy and society by creating new job opportunities, contributing to the national income, encouraging local commerce, and responsibly fomenting local tourism.

These outcomes suggest that the Colombian government could improve the pro-grams and tools offered for supporting entrepreneurial activity from funding and training. Similarly, enhancing the communication channels resemble important be-cause it is recurrent that entrepreneurs unknow all the programs and benefits avail-able for them. Finally, an adjustment in tax concerns is required since many enter-prises are not legally formalized due to all the tax burdens that apply to them.

Item Type: Thesis (Masters)
Uncontrolled Keywords: millennial entrepreneurs; entrepreneurial activity in Colombia; Colombian entrepreneurs; entrepreneurship in Colombia
Subjects: F History United States, Canada, Latin America > F1201 Latin America (General)
H Social Sciences > HB Economic Theory > Entrepreneurship
Divisions: School of Business > Master of Science in Entrepreneurship
Depositing User: Clara Chan
Date Deposited: 09 Feb 2022 15:04
Last Modified: 09 Feb 2022 15:04
URI: http://norma.ncirl.ie/id/eprint/5406

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