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Key Factors of Dynamic SMEs in Colombia Using GEM Data: Reflections for Public Policy
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Author(s): León Darío Parra Bernal (EAN University, Colombia)and Milenka Linneth Argote Cusi (Business Intelligence and Demography SAS, Colombia)
Copyright: 2020
Pages: 20
Source title:
Handbook of Research on Increasing the Competitiveness of SMEs
Source Author(s)/Editor(s): Rafael Perez-Uribe (Universidad de la Salle, Colombia), David Ocampo-Guzman (EAN University, Colombia), Carlos Salcedo-Perez (EAN University, Colombia), Lorena Piñeiro-Cortes (EAN University, Colombia)and Maria Del Pilar Ramirez-Salazar (EAN University, Colombia)
DOI: 10.4018/978-1-5225-9425-3.ch007
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Abstract
This chapter contributes to the public policy discussion about the key factors related with dynamic SMEs in Colombia. Authors analyze the case of Colombia through a quantitative approach with a binomial logistic model to estimate the level of association between selected independent variables and dynamic SMEs in the country using GEM data 2017. One of the most important outcomes was that the export activity as well as the level of education of entrepreneurs and previous business experience increase the propensity of Dynamic SMEs in the country. In contrast, variables such as seed capital at the beginning of business and business training did not show a significant relationship with Dynamic SMEs for this case. Notwithstanding the prosperity entrepreneurship ecosystem in Colombia, only 3% of entrepreneurs and their companies are classified as dynamic by authors' model, and there are still great challenges to changes in public policy toward knowledge-intensive entrepreneurship.
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