Entrepreneurs in Latin America

Veneri, Federico
Dec 2014
This technical note uses data from a new survey that collected information on entrepreneurs and their businesses in nine Latin American countries, with the objective of determining the relevant characteristics that define the different types of Latin American entrepreneurs. In particular, it analyzes personality traits and socio-demographic attributes. The results show that different types of entrepreneurs are associated with different personality traits and socio-demographic characteristics. The typical Latin American entrepreneur-employer has the following measured characteristics considered "above the mean": male, history of parent-entrepreneurs, financial access, and some specific personality traits (i.e., achievement-oriented, multitaskers, show a high tolerance for risk, and the need for autonomy). Potential entrepreneurs and self-employed individuals have some different characteristics. When countries are analyzed separately, heterogeneities are found, showing indirect evidence of the relevance of political-institutional, sociocultural, and other environment-related factors as determinants of entrepreneurship.