Entrepreneurship in Latin America: Skills and Education for COVID-19 and Beyond

Abstract

Entrepreneurship is a topic that has become more relevant in recent years and the Covid-19 pandemic has made it even more so. Indeed, in the context of the 2020 pandemic, some entrepreneurial initiatives have risen as an option for employment and income given the lack of job alternatives or as a consequence of displacement from previous economic activities (necessity-driven entrepreneurship); at the same time, various changes brought about or accelerated by the pandemic have given rise to new business opportunities (opportunity-led entrepreneurship). In this review work, we discuss the personal characteristics of the entrepreneur that favor the development of successful opportunity-led ventures in Latin America in the context of Covid-19 and beyond. In general, these personal characteristics or endowments can refer to abilities, capacities and other traits that influence the behavior of entrepreneurs and their response to diverse circumstances in the process of entrepreneurship. They include creativity, innovation, leadership and risk tolerance, and also academic level, work experience and social networks. The pandemic has brought about changes in the way these diverse factors influence successful entrepreneurship and, thus, represent a challenge for entrepreneurship education. Business schools, in particular, through their degree programs and continuous training, play a key role in providing management tools and favoring the development of skills better adapted to the formation of opportunity-led entrepreneurs in the Covid-19 and post-pandemic contexts.