Entrepreneurship in Ecuador
Total Entrepreneurial Activity Average = 18%
•
Ecuador’s unemployment rate is 16.6%
• Ecuador’s population is ~13.2 mil. With
a labor force of 4.36 mil
• The labor force is focused in three occupations:
agriculture, industry and services.
• 65% of Ecuador’s population is below the
poverty line.
• The average labor costs for Ecuador are 85 cents
per hour.
• The Ecuadorian government is taking steps to encourage
new business investments.
• The government created the Business Development
Agency to provide Entrepreneurs with the necessary assistance
to start a business.
• It used to take 2-6 months to register a business
– Now it takes 22 days.
• The total franchise market size in 2001 was ~$110
mil and was expected to grow 15-20% for the next two years.
• In Ecuador, women are more likely to consider
new and innovative solutions.
Ecuador Entrepreneurship Articles
Quick Facts:
Population: 14,573,101
GDP: $107 Billion ('08)
GDP Growth Rate: 3.4% ('08)
GDP per Capita: $7,700
Government: Republic
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