Entrepreneurship in Bolivia

Abstract

The Plurinational State of Bolivia is known to be a developing country with a rebellious population and rich in natural resources. It is known in an international context regarding its entrepreneurial ecosystem, which has been rapidly developing during the last 15 years, even during the COVID-19 pandemic which accelerated the technological transformation and created articulations between institutions in order to give a merged and integral support to entrepreneurs.

Because of its strategic geographical position, Bolivia is an important connector in Latin America, allowing not only entrepreneurship to flourish into neighboring countries, but also, by being the shortest route for international ventures to grow in the country as well.

In the last 6 months, during the COVID-19 pandemic, Bolivia has been able to adapt and confront the crisis, rapidly being part of the world’s vision of virtual businesses, however, there is still the need to improve various factors of doing business, such as taxation, bureaucracy, and construction permits.

Even though the current entrepreneurial situation of the country doesn’t offer a positive perspective, changes are being made to adapt and support entrepreneurs in the country. Today, more than 35 “hubs” exist, demonstrating the capacity of involved institutions to articulate and strategically plan their support.