Characterization of the entrepreneurial ecosystem in the city of Ibarra, Ecuador

Abstract

Entrepreneurship in Ecuador has great potential to contribute to the country's economic growth. The present study aimed to characterize the entrepreneurial ecosystem in the city of Ibarra, taking into account the socioeconomic particularities. It was developed using a quantitative descriptive approach, with a non-experimental and cross-sectional design. For data collection, a structured questionnaire was designed. The SWOT matrix was then developed, reflecting the strengths and weaknesses, as well as opportunities and threats of the entrepreneurial ecosystem in Ibarra. It is concluded that the main motivation to undertake was economic, specifically due to the need to generate higher income, which reflects that a limited labor environment drives many people to start businesses as an alternative to formal employment. Individual entrepreneurship prevails as the dominant model, with personal capital being the most commonly used source of financing. The largest number of ventures was concentrated in the commercial sector, followed by services, production, and health. It was identified that strategic decisions in the early stages of entrepreneurship are closely related to the specificities of the local context, highlighting the importance of designing policies and programs tailored to the specific characteristics of Ibarra, as socioeconomic conditions, such as the level of education, access to financing, infrastructure, and support networks, play a determining role in creating a favorable environment for entrepreneurship.