Most entrepreneurial countries in Latin America

According to a survey carried out by Ipsos in late 2020, Colombians respondents showed the highest levels of entrepreneurial mindset among the six Latin American countries analyzed. When asked about the entrepreneurial attributes they felt identified with, 61 percent of respondents in Colombia were categorized as having a "very high" entrepreneurial spirit. Brazil, on the other hand, was the country with the highest share of respondents in the "low entrepreneurial spirit" category, at seven percent.

Respondents were classified based on a list of around 100 attributes like passionate, creative, future oriented, resourceful, disciplined, self-motivated, innovative, ambitious, among others.

Levels of entrepreneurial spirit in selected countries in Latin America in 2020

Characteristic	Very high	High	Moderate	Low
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-

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Release date

January 2021

More information

Region

LAC

Survey time period

November 20 to December 4, 2020

Number of respondents

approx. 500 respondents by country*

Age group

16-74 years

Method of interview

Online panel

Supplementary notes

* Except from Brazil, where 1,000 respondents were surveyed.

The Entrepreneurial Spirit index was developed by combining responses regarding 100 attributes with which respondents felt identified or not: passionate about what I do in life, like to take calculated risks, creative, future oriented, resourceful, innovative, ambitious, etc.

The levels of entrepreneurial spirit were categorized as follows:
Very High = average rate 6 or more on the items
High = average rate 5 on the items
Moderate = average rate 4 on the items
Low = average rate 3 or less on the items

Missing percentage points to 100 percent or percentage points exceeding 100 percent are probably due to rounding.

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