Entrepreneurship in Chile - GEM Global Entrepreneurship Monitor

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class="container"> <div class="container-inner"> <a href="https://www.gemconsortium.org/country-profiles" class="btn btn-primary"> <span class="gemicon gemicon-chevron-left white" aria-hidden="true"></span> Back to Economy Profiles </a> </div> </div> </div> <div id="main" class="country-profile"> <div class="container"> <div class="container-inner"> <div class="profile-inner"> <div class="profile-info"> <div class="profile-info-holder"> <div class="profile-info-left"> <div class="profile-flag pflag-logo"> <img src="https://www.gemconsortium.org/images/svg/flags/CL.svg" alt="Chile" title="Chile"> </div> <h4 class="profile-team-name">Chile</h4> </div> <div class="profile-info-right"> <h6 class="profile-team-institution"> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/4" class="open-indicator-tooltip"><strong>Region:</strong> LatAm and Caribbean</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div data-html="true" class="tooltip-body"> <p>Classification of economies by geographic region is based on that of the <a data-html="true" target="_blank" href="https://unstats.un.org/unsd/methodology/m49/#geo-regions">United Nations Statistics Division. </a></p> </div> </div> </div> </div> </h6> <h6 class="profile-team-institution"> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/4" class="open-indicator-tooltip"><strong>High Income</strong></a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div data-html="true" class="tooltip-body"> <p>Based on the income levels set out by the World Economic Forum (WEF) in its Global Competitiveness Report. However, the groupings are slightly different due to the numbers of economies covered. For GEM, the low income group contains both those classified as low income and lower middle by WEF, and the middle income group has those that WEF groups as upper middle. High income is the same for both GEM and WEF.</p> </div> </div> </div> </div> </h6> <h6 class="profile-team-institution"> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/4" class="open-indicator-tooltip"><strong>Population:</strong> 18 million (2018)</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div data-html="true" class="tooltip-body"> <p> Population data is from the <a href="https://data.worldbank.org/indicator/sp.pop.totl" target="_blank">World Bank</a>, except Palestinian Territories <a href="http://worldpopulationreview.com/countries/palestine-population/" target="_blank">World Population Review</a> and Taiwan <a href="https://www.worldometers.info/world-population/taiwan-population/" target="_blank">Worldometers</a> </p> </div> </div> </div> </div> </h6> <h6 class="profile-team-vendor"> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/4" class="open-indicator-tooltip"><strong>GDP Growth:</strong> 4% (2018)</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div data-html="true" class="tooltip-body"> <p> GDP growth data is from the <a href="https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/index.aspx" target="_blank">World Economic Outlook Database</a>, except Palestinian Territories <a href="https://www.worldometers.info/gdp/state-of-palestine-gdp/" target="_blank">Worldometers</a> </p> </div> </div> </div> </div> </h6> <h6 class="profile-team-funders"> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/4" class="open-indicator-tooltip"><strong>GDP Per Capita:</strong> $15,128 (2017)</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div data-html="true" class="tooltip-body"> <p> GDP per capita data is from the <a href="https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/index.aspx" target="_blank">World Economic Outlook Database</a>, except Palestinian Territories <a href="https://www.worldometers.info/gdp/state-of-palestine-gdp/" target="_blank">Worldometers</a> </p> </div> </div> </div> </div> </h6>   <button type="button" class="btn btn-danger btn-block toggle-profile" data-type="team">Contact</button> <button type="button" class="btn btn-orange btn-block view-profile-reports">View Reports</button> </div> </div> </div> <div class="profile-details">  <div class="nav-tabs-panel" role="tabpanel"> <div class="nav-tabs-holder"> <ul class="nav nav-tabs grid-2" role="tablist"> <li class="active"> <a href="#cp" class="tablist-cp" aria-controls="cp" role="tab" data-toggle="tab" >Economy Profile</a> </li> <li role="presentation" class="" > <a href="#pb" class="tablist-pb" aria-controls="pb" role="tab" data-toggle="tab" >Policy Brief</a> </li> </ul> </div> <div class="tab-content min-height"> <div id="cp" role="tabpanel" class="tab-pane expanded fade active in " > <article > <h2>Entrepreneurial Behaviour and Attitudes</h2> <span class="pushbar">Most recent data: 2023</span> <ul class="color-index clickable" style="display:block;"> <li style="cursor:pointer;" data-trigger="measure"><span style="background:#4b92c3 url('../images/tick.png') center;background-size: 100%;"></span>Chile 2023</li> <li style="cursor:pointer; " data-trigger="Chile 2022"><span style="background:#f5eb05 url('../images/tick.png') center;background-size: 100%;"></span>Chile 2022</li> <li style="cursor:pointer;" data-trigger="marker"><span style="background:#373737 url('../images/tick.png') center;background-size: 100%;"></span>Global Average</li> <li style="cursor:pointer;" data-trigger="Regional Average"><span style="background:#f9830e url('../images/tick.png') center;background-size: 100%;"></span>Regional Average</li> <li style="cursor:pointer;" data-trigger="Income Level Average"><span style="background:#acacac url('../images/tick.png') center;background-size: 100%;"></span>Income Level Average</li> </ul> <div class="data-entry-row"> <h2 class="table-title">Self-Perceptions</h2> <ul class="first-col"> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/4" class="open-indicator-tooltip hidden-xs">Perceived Opportunities Rate</a> <a href="/data/key-indicator/4" class="open-indicator-tooltip visible-xs">1</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Perceived Opportunities Rate:</span>Percentage of 18-64 population (individuals involved in any stage of entrepreneurial activity excluded) who see good opportunities to start a firm in the area where they live </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/5" class="open-indicator-tooltip hidden-xs">Perceived Capabilities Rate</a> <a href="/data/key-indicator/5" class="open-indicator-tooltip visible-xs">2</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Perceived Capabilities Rate:</span>Percentage of 18-64 population (individuals involved in any stage of entrepreneurial activity excluded) who believe they have the required skills and knowledge to start a business </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/6" class="open-indicator-tooltip hidden-xs">Fear of Failure Rate*</a> <a href="/data/key-indicator/6" class="open-indicator-tooltip visible-xs">3</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Fear of Failure Rate*:</span>Percentage of the 18–64 population who agree that they see good opportunities but would not start a business for fear it might fail. NOTE: this is a percentage of those seeing good opportunities, and not the total adult population </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/7" class="open-indicator-tooltip hidden-xs">Entrepreneurial Intentions Rate</a> <a href="/data/key-indicator/7" class="open-indicator-tooltip visible-xs">4</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Entrepreneurial Intentions Rate:</span>Percentage of 18-64 population (individuals involved in any stage of entrepreneurial activity excluded) who are latent entrepreneurs and who intend to start a business within three years </div> </div> </div> </div> </li> </ul> <div class="second-column"> <div class="gallery with-transitions" id="chart"></div> </div> <div class="data-titles clearfix"> <ul> <li>1. Perceived Opportunities Rate</li> <li>2. Perceived Capabilities Rate</li> <li>3. Fear of Failure Rate*</li> <li>4. Entrepreneurial Intentations Rate:</li> </ul> </div> </div> <div class="data-entry-row"> <h2 class="table-title">Activity</h2> <ul class="first-col"> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/1" class="open-indicator-tooltip hidden-xs">Total early-stage Entrepreneurial Activity (TEA)</a> <a href="/data/key-indicator/1" class="open-indicator-tooltip visible-xs">1</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Total early-stage Entrepreneurial Activity (TEA):</span>Percentage of 18-64 population who are either a nascent entrepreneur or owner-manager of a new business </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/2" class="open-indicator-tooltip hidden-xs">Established Business Ownership Rate</a> <a href="/data/key-indicator/2" class="open-indicator-tooltip visible-xs">2</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Established Business Ownership Rate:</span>Percentage of 18-64 population who are currently an owner-manager of an established business, i.e., owning and managing a running business that has paid salaries, wages, or any other payments to the owners for more than 42 months </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/3" class="open-indicator-tooltip hidden-xs">Entrepreneurial Employee Activity Rate</a> <a href="/data/key-indicator/3" class="open-indicator-tooltip visible-xs">3</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Entrepreneurial Employee Activity Rate:</span>Rate of involvement of employees in entrepreneurial activities, such as developing or launching new goods or services, or setting up a new business unit, a new establishment or subsidiary </div> </div> </div> </div> </li> </ul> <div class="second-column"> <div class="gallery with-transitions" id="chartone"></div> </div> <div class="data-titles clearfix"> <ul> <li>1. Total early-stage Entrepreneurial Activity (TEA)</li> <li>2. Established Business Ownership Rate</li> <li>3. Entrepreneurial Employee Activity Rate </li> </ul> </div> </div> <div class="data-entry-row"> <h2 class="table-title">Motivations</h2> <ul class="first-col"> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/8" class="open-indicator-tooltip hidden-xs">Motivational Index</a> <a href="/data/key-indicator/8" class="open-indicator-tooltip visible-xs">1</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Motivational Index:</span>Percentage of those involved in TEA that are improvement-driven opportunity motivated, divided by the percentage of TEA that is necessity-motivated </div> </div> </div> </div> </li> </ul> <div class="second-column"> <div class="gallery with-transitions" id="charttwo"></div> </div> <div class="data-titles clearfix"> <ul> <li>1. Motivational Index</li> </ul> </div> </div> <div class="data-entry-row"> <h2 class="table-title">Gender Equity</h2> <ul class="first-col"> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/9" class="open-indicator-tooltip hidden-xs">Female/Male TEA Ratio</a> <a href="/data/key-indicator/9" class="open-indicator-tooltip visible-xs">1</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Female/Male TEA Ratio:</span>Percentage of female 18-64 population who are either a nascent entrepreneur or owner-manager of a 'new business', divided by the equivalent percentage for their male counterparts </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/10" class="open-indicator-tooltip hidden-xs">Female/Male Opportunity-Driven TEA Ratio</a> <a href="/data/key-indicator/10" class="open-indicator-tooltip visible-xs">2</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Female/Male Opportunity-Driven TEA Ratio:</span>Percentage of those females involved in TEA who (i) claim to be driven by opportunity as opposed to finding no other option for work; and (ii) who indicate the main driver for being involved in this opportunity is being independent or increasing their income, rather than just maintaining their income, divided by the equivalent percentage for their male counterparts </div> </div> </div> </div> </li> </ul> <div class="second-column"> <div class="gallery with-transitions" id="chartthree"></div> </div> <div class="data-titles clearfix"> <ul> <li>1. Female/Male TEA Ratio</li> <li>2. Female/Male Opportunity-Driven TEA Ratio</li> </ul> </div> </div> <div class="data-entry-row"> <h2 class="table-title">Impact</h2> <ul class="first-col"> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/11" class="open-indicator-tooltip hidden-xs">High Job Creation Expectation Rate</a> <a href="/data/key-indicator/11" class="open-indicator-tooltip visible-xs">1</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>High Job Creation Expectation Rate:</span>Percentage of those involved in TEA who expect to create 6 or more jobs in 5 years </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/12" class="open-indicator-tooltip hidden-xs">Innovation Rate</a> <a href="/data/key-indicator/12" class="open-indicator-tooltip visible-xs">2</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Innovation Rate:</span>Percentage of those involved in TEA who indicate that their product or service is new to at least some customers AND that few/no businesses offer the same product </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/13" class="open-indicator-tooltip hidden-xs">Business Services Sector Rate</a> <a href="/data/key-indicator/13" class="open-indicator-tooltip visible-xs">3</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Business Services Sector Rate:</span>Percentage of those involved in TEA in the 'Business Services' sector - Information and Communication, Financial Intermediation and Real Estate, Professional Services or Administrative Services, as defined by the ISIC 4.0 Business Type Codebook </div> </div> </div> </div> </li> </ul> <div class="second-column"> <div class="gallery with-transitions" id="chartfour"></div> </div> <div class="data-titles clearfix"> <ul> <li>1. High Job Creation Expectation Rate</li> <li>2. Innovation Rate</li> <li>3. Business Services Sector Rate</li> </ul> </div> </div> <div class="data-entry-row"> <h2 class="table-title">Societal Values</h2> <ul class="first-col"> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/15" class="open-indicator-tooltip hidden-xs">High Status to Successful Entrepreneurs Rate</a> <a href="/data/key-indicator/15" class="open-indicator-tooltip visible-xs">1</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>High Status to Successful Entrepreneurs Rate:</span>Percentage of 18-64 population who agree with the statement that in their country, successful entrepreneurs receive high status </div> </div> </div> </div> </li> <li> <div class="tooltip-key-indicator"> <div class="inner"> <a href="/data/key-indicator/16" class="open-indicator-tooltip hidden-xs">Entrepreneurship as a Good Career Choice Rate</a> <a href="/data/key-indicator/16" class="open-indicator-tooltip visible-xs">2</a> <div class="tooltip-information"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title"> </h5> </div> <div class="tooltip-body"> <span>Entrepreneurship as a Good Career Choice Rate:</span>Percentage of 18-64 population who agree with the statement that in their country, most people consider starting a business as a desirable career choice </div> </div> </div> </div> </li> </ul> <div class="second-column"> <div class="gallery with-transitions" id="chartfive"></div> </div> <div class="data-titles clearfix"> <ul> <li>1. High Status to Successful Entrepreneurs Rate</li> <li>2. Entrepreneurship as a Good Career Choice Rate</li> </ul> </div> </div> <h2 class="spacer">Entrepreneurial Framework Conditions</h2> <span class="spacer">Most recent data: 2023</span> <p>Expert Ratings: 1 = highly insufficient, 5 = highly sufficient</p> </article> <div class="data-tabs-plug-econ"> <div class="tab-pane-holder" role="tabpanel"> <ul class="nav nav-tabs grid-2 hidden-xs" role="tablist"> <li class="active" role="presentation"> <a href="#spider-data" onclick="" aria-controls="table-data" role="tab" data-toggle="tab">Spider</a> </li> <li role="presentation"> <a href="#graphs-data" onclick="" aria-controls="graph-data" role="tab" data-toggle="tab">Bars</a> </li> </ul> <div class="tab-content"> <div id="spider-data" class="tab-pane fade in active subcleardata" role="tabpanel"> <input id="idradardata" name="idradardata" type="hidden" value="50"> <canvas id="radarchart" class="hidden-xs" width="580" height="400"></canvas> </div> <a href="#" class="spider-image" data-toggle="modal" data-target="#exampleModal"> <img src="" id="spiderImage"> </a> <div class="modal fade" id="exampleModal" tabindex="-1" role="dialog" aria-labelledby="exampleModalLabel" aria-hidden="true"> <div class="modal-dialog" role="document"> <div class="modal-content"> <div class="modal-header spider-modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"> <span aria-hidden="true">×</span> </button> </div> <div class="modal-body"> <img src="" id="spiderModalImage"> </div> <div class="modal-footer"> <button type="button" class="btn btn-secondary" data-dismiss="modal">Close</button> </div> </div> </div> </div> <div id="graphs-data" class="tab-pane fade subcleardata" role="tabpanel"> <div> <ul class="color-index"> <li><span class="colour-one"></span>Chile 2023</li> <li><span class="colour-two"></span>Chile 2022</li> <li><span class="colour-three"></span>Regional Average</li> <li><span class="colour-four"></span>Income Level Average</li> <li><span class="colour-five"></span>Global Average</li> </ul> <ul class="color-index" id="tooltip" style="position:fixed; top:0; left:0; pointer-events: none;"> <li style="display:none; position:absolute;width:200px; background: rgba(255, 255, 255, 0.9);border:1px rgb(194, 194, 194) solid; border-radius:2px; padding:5px;text-align:center;"><span class="colour-one"></span>Chile 2023</li> <li style="display:none; position:absolute;width:200px; background: rgba(255, 255, 255, 0.9);border:1px rgb(194, 194, 194) solid; border-radius:2px; padding:5px;text-align:center;"><span class="colour-two"></span>Chile 2022</li> <li style="display:none; position:absolute;width:200px; background: rgba(255, 255, 255, 0.9);border:1px rgb(194, 194, 194) solid; border-radius:2px; padding:5px;text-align:center;"><span class="colour-three"></span>Regional Average</li> <li style="display:none; position:absolute;width:200px; background: rgba(255, 255, 255, 0.9);border:1px rgb(194, 194, 194) solid; border-radius:2px; padding:5px;text-align:center;"><span class="colour-four"></span>Income Level Average</li> <li style="display:none; position:absolute;width:200px; background: rgba(255, 255, 255, 0.9);border:1px rgb(194, 194, 194) solid; border-radius:2px; padding:5px;text-align:center;"><span class="colour-five"></span>Global Average</li> </ul> <svg class="chart"></svg> </div> </div> </div> </div> </div> </div> <div id="pb" role="tabpanel" class="tab-pane expanded fade " > <article> <p><strong>POLICY ROADMAP</strong></p> <p>Economic growth has slowed in Chile, with real GDP expected to fall by 1% in 2023 after two years of strong recovery from the pandemic. The unemployment rate widened to 8% and inflation reached 12% in September 2023. This marks this highest inflation rate of the past 28 years.</p> <p>High inflation continues to adversely impact Chilean entrepreneurs, squeezed between rising costs and declining consumer spending. In the period January– September 2023, bankruptcies in Chile were up by 18%.</p> <p>CORFO, the Chilean Economic Development Agency, in partnership with Banco Estado, announced new support mechanisms to enable entrepreneurs to access growth finance more easily and at a lower cost.</p> <p><strong>2023 Framework Conditions Review1</strong></p> <p>The overall quality of the Chilean entrepreneurial environment, as assessed by its own national experts and summed up in the National Entrepreneurial Context Index (NECI), has been reasonably stable in recent years, dipping slightly in the pandemic and then recovering. The country’s 2023 NECI score of 4.6 is slightly up from 2022 (4.5), and matches pre-pandemic levels.</p> <p>Chile’s 2023 Entrepreneurial Framework Condition (EFC) scores were little changed from 2022, with<br /> eight of 13 increasing and five declining. The largest increases were for Entrepreneurial Finance and for Government Policy: Support and Relevance, while the largest fall was for Commercial and Professional Infrastructure. As in many economies, Entrepreneurial Education at School continues to have the lowest expert quality rating, some margin behind the other EFCs.</p> <p>National experts rated the social support for women entrepreneurs at 3.4, much less than sufficient and mid-ranking among the GEM economies (29th). Women entrepreneurs’ access to resources, compared to that of men, scored much better, both absolutely and relatively, with a score of 5.3 and a GEM rank of 15th (among 49 economies).</p> <p><strong>2023 Entrepreneurial Activity Review</strong></p> <p>Recent Global Reports have pointed to the Latin America & Caribbean region as an emerging global hotspot for entrepreneurial activity, with Chile playing a prominent role. GEM Adult Population Survey (APS) results for 2023 confirm this trend, with Guatemala, Ecuador, Chile and Panama having the four highest levels of Total early-stage Entrepreneurial Activity (TEA). Chile’s rate of just over three in 10 adults starting or running a new business was its highest since before the pandemic, and the third highest in GEM 2023. Levels of new entrepreneurial activity were higher for Chilean men than women, but the difference was small.</p> <p>Levels of Established Business Ownership were much lower, at 5%, implying six adults started a new business for every adult owning an established one. This suggests there are serious obstacles to sustaining a new business long enough for it to become established. It may be that the entrepreneurial environment makes it much easier to start a new business than to continue an existing one.</p> <p>Entrepreneurial activity is very visible in Chile. Seven out of 10 adults know someone who has recently started a business (the third highest level in GEM) and an even higher proportion believe they have the skills and experience to start a business (second highest). This confidence is reflected in a relatively low fear of failure, with just two in five of those seeing good opportunities reporting that fear of failure would prevent them from starting a business. More than one in two adults in Chile intend to start a business in the next three years.</p> <p>The most popular agreed motivation among new entrepreneurs was to earn a living because jobs are scarce. Three out of four new entrepreneurs expected to use more digital technology in the next six months. Just one in 20 of them had customers beyond Chile. Despite this, one in three new entrepreneurs anticipate employing at least another six people within the next five years.<br /> <br /> <em>1 A brief description of the GEM approach is given in the GEM Global Report footnote on p. 107.</em></p> </article> </div> </div> </div> </div> <div class="profile-team hide"></div> </div> <div class="profile-actions"> <div class="btn-group pull-right">  <button type="button" class="btn btn-default scrollup"> <a href="#">Scroll to the top</a> </button> </div> </div> <div class="profile-reports"> <div class="panel panel-default"> <div class="panel-heading"> <div class="title"> <h3 class="panel-title">Chile Reports</h3> </div> </div> <div class="panel-body half-min-height"> <table class="table table-hover tablesorter"> <thead> <tr> <th colspan="2">Name</th> <th class="th-button-small sorter-false"> <button type="button" class="btn btn-link disabled"> </button> </th> </tr> </thead> <tbody> <tr> <td class="td-tooltip"> <div class="tooltip-panel-information"> <a href="/report/information/51416" class="open-panel-tooltip"> <span class="gemicon gemicon-info" aria-hidden="true"></span> </a> <div class="tooltip-information report"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title">Report information</h5> </div> <div class="tooltip-body"> <img src="https://www.gemconsortium.org/images/reports/2024/51416.jpg" alt="pdf" title="pdf" class="document-preview"> <ul class="document-info"> <li><strong>Year of publication:</strong> 2024</li> <li><strong>Category:</strong> National Reports</li> <li><strong>Language:</strong> Spanish</li> <li><strong>Upload date:</strong> 2024-07-06</li> <li><br></li> <li><strong>URL:</strong> <a href="https://www.gemconsortium.org/report/51416">https://www.gemconsortium.org/report/51416</a></li> </ul> </div> </div> </div> </td> <td>GEM Chile Reporte Nacional 2023 </td> <td> <button type="button" file="51416" class="btn btn-default pull-right wider downloadaction on-large">Download (11.4 MB)</button> <button type="button" file="51416" class="btn-simple pull-right downloadaction on-small"><span class="gemicon gemicon-download" aria-hidden="true"></span></button> </td> </tr> <tr> <td class="td-tooltip"> <div class="tooltip-panel-information"> <a href="/report/information/51189" class="open-panel-tooltip"> <span class="gemicon gemicon-info" aria-hidden="true"></span> </a> <div class="tooltip-information report"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title">Report information</h5> </div> <div class="tooltip-body"> <img src="https://www.gemconsortium.org/images/reports/2023/51189.jpg" alt="pdf" title="pdf" class="document-preview"> <ul class="document-info"> <li><strong>Year of publication:</strong> 2023</li> <li><strong>Category:</strong> National Reports</li> <li><strong>Language:</strong> Spanish</li> <li><strong>Upload date:</strong> 2023-07-13</li> <li><br>The GEM Chile 2022 Report reveals that, although entrepreneurship is considered a career option in Chile, the perception of opportunities and the intention to undertake are still influenced by the fear of failure. The post-pandemic recovery trajectory of entrepreneurial dynamics presents a slight setback, however, there are indications of growth expectations and innovative, international, and sustainable orientation in the Chilean business structure despite the constant gaps in the Chilean entrepreneurial ecosystem.</li> <li><strong>URL:</strong> <a href="https://www.gemconsortium.org/report/51189">https://www.gemconsortium.org/report/51189</a></li> </ul> </div> </div> </div> </td> <td>GEM Chile 2022 Report </td> <td> <button type="button" file="51189" class="btn btn-default pull-right wider downloadaction on-large">Download (4.18 MB)</button> <button type="button" file="51189" class="btn-simple pull-right downloadaction on-small"><span class="gemicon gemicon-download" aria-hidden="true"></span></button> </td> </tr> <tr> <td class="td-tooltip"> <div class="tooltip-panel-information"> <a href="/report/information/50956" class="open-panel-tooltip"> <span class="gemicon gemicon-info" aria-hidden="true"></span> </a> <div class="tooltip-information report"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title">Report information</h5> </div> <div class="tooltip-body"> <img src="https://www.gemconsortium.org/images/reports/2022/50956.jpg" alt="pdf" title="pdf" class="document-preview"> <ul class="document-info"> <li><strong>Year of publication:</strong> 2022</li> <li><strong>Category:</strong> National Reports</li> <li><strong>Language:</strong> Spanish</li> <li><strong>Upload date:</strong> 2022-07-28</li> <li><br></li> <li><strong>URL:</strong> <a href="https://www.gemconsortium.org/report/50956">https://www.gemconsortium.org/report/50956</a></li> </ul> </div> </div> </div> </td> <td>GEM Chile 2021 </td> <td> <button type="button" file="50956" class="btn btn-default pull-right wider downloadaction on-large">Download (9.18 MB)</button> <button type="button" file="50956" class="btn-simple pull-right downloadaction on-small"><span class="gemicon gemicon-download" aria-hidden="true"></span></button> </td> </tr> <tr> <td class="td-tooltip"> <div class="tooltip-panel-information"> <a href="/report/information/50717" class="open-panel-tooltip"> <span class="gemicon gemicon-info" aria-hidden="true"></span> </a> <div class="tooltip-information report"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title">Report information</h5> </div> <div class="tooltip-body"> <img src="https://www.gemconsortium.org/images/reports/2021/50717.jpg" alt="pdf" title="pdf" class="document-preview"> <ul class="document-info"> <li><strong>Year of publication:</strong> 2021</li> <li><strong>Category:</strong> National Reports</li> <li><strong>Language:</strong> Spanish</li> <li><strong>Upload date:</strong> 2021-08-13</li> <li><br>GEM 2020 Chile National Report Shows a Re-configuration of Entrepreneurial Activity The Chilean entrepreneurial activity that experienced the effects of massive civil protests in response to different socio-economic concerns in October 2019, and then the global health crisis that started in March 2020. The 2020 GEM Chile National Report shows how the COVID-19 pandemic has preliminarily impacted national and regional entrepreneurial activity after the first eight months of the pandemic). </li> <li><strong>URL:</strong> <a href="https://www.gemconsortium.org/report/50717">https://www.gemconsortium.org/report/50717</a></li> </ul> </div> </div> </div> </td> <td>GEM Chile 2020 Report </td> <td> <button type="button" file="50717" class="btn btn-default pull-right wider downloadaction on-large">Download (7.57 MB)</button> <button type="button" file="50717" class="btn-simple pull-right downloadaction on-small"><span class="gemicon gemicon-download" aria-hidden="true"></span></button> </td> </tr> <tr> <td class="td-tooltip"> <div class="tooltip-panel-information"> <a href="/report/information/50718" class="open-panel-tooltip"> <span class="gemicon gemicon-info" aria-hidden="true"></span> </a> <div class="tooltip-information report"> <div class="tooltip-heading"> <button type="button" class="close tooltip-close" aria-label="Close"><span aria-hidden="true">×</span></button> <h5 class="title">Report information</h5> </div> <div class="tooltip-body"> <img src="https://www.gemconsortium.org/images/reports/2020/50718.jpg" alt="pdf" title="pdf" class="document-preview"> <ul class="document-info"> <li><strong>Year of publication:</strong> 2020</li> <li><strong>Category:</strong> National Reports</li> <li><strong>Language:</strong> Spanish</li> <li><strong>Upload date:</strong> 2021-08-16</li> <li><br>From a gender perspective, the percentage of men involved in early-stage entrepreneurial activity (41%) exceeds the percentage of women (32%) by 9 percentage points. Compared to the GEM Mujer 2017 Report, it stands out that the gender gap has narrowed by established companies because the presence of women at this stage has increased. </li> <li><strong>URL:</strong> <a href="https://www.gemconsortium.org/report/50718">https://www.gemconsortium.org/report/50718</a></li> </ul> </div> </div> </div> </td> <td>GEM Chile Women 2019 Report </td> <td> <button type="button" file="50718" class="btn btn-default pull-right wider downloadaction on-large">Download (2.38 MB)</button> <button type="button" file="50718" class="btn-simple pull-right downloadaction on-small"><span class="gemicon gemicon-download" aria-hidden="true"></span></button> </td> </tr> </tbody> </table> <div class="load-more" > <button onclick="GetNextProfileReport(50)" type="button" class="btn btn-default btn-lg rounded" data-loading-text="Loading..." autocomplete="off">Load more</button> </div> </div> </div> </div> </div> </div> </div> <footer id="footer"> <div class="footer-bg"> <div class="container padded"> <div class="outer"> <div class="inner"> <div class="illustration"> <img src="https://www.gemconsortium.org/images/svg/footer-illustration.svg" alt="GEM Illustration"> </div> <div class="content"> <h6>Connect with us</h6> <ul class="social"> <li> <a href="https://www.facebook.com/GEMonitor" target="_blank" rel="noopener" class="network-facebook" > <i class="icons8-facebook"></i> </a> </li> <li> <a href="https://twitter.com/gemnow" target="_blank" rel="noopener" class="network-twitter" > <i class="icons8-twitter"></i> </a> </li> <li> <a href="http://linkedin.com/company/global-entrepreneurship-monitor" target="_blank" rel="noopener" class="network-linkedin" > <i class="icons8-linkedin"></i> </a> </li> </ul> <hr> <nav> <ul class="links"> <li> <a href="https://www.gemconsortium.org/about/impact/9"> Join GEM’s Research <i class="icons8-arrow-right"></i> </a> </li> <li> <a href="https://www.gemconsortium.org/contact"> Contact <i class="icons8-arrow-right"></i> </a> </li> <li> <a href="#" data-toggle="modal" data-target="#signupModal" type="button" > Subscribe <i class="icons8-arrow-right"></i> </a> </li> </ul> </nav> </div> </div> </div> <div class="address"> <p>Global Entrepreneurship Research Association, London Business School, Regents Park, London NW1 4SA, UK</p> </div> </div> </div> </footer>  <div class="modal fade" id="signupModal" tabindex="-1" role="dialog" aria-labelledby="signup" aria-hidden="true"> <div class="modal-dialog modal-dialog-centered" role="document"> <div class="modal-content"> <div class="modal-body">  <link href="//cdn-images.mailchimp.com/embedcode/classic-10_7.css" rel="stylesheet" type="text/css"> <style type="text/css"> #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; } /* Add your own Mailchimp form style overrides in your site stylesheet or in this style block. 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Entrepreneurship in Chile - GEM Global Entrepreneurship Monitor