{"id":14232,"date":"2021-09-24T11:08:00","date_gmt":"2021-09-24T15:08:00","guid":{"rendered":"https:\/\/foundationforpuertorico.org\/?p=14232"},"modified":"2021-09-24T11:08:00","modified_gmt":"2021-09-24T15:08:00","slug":"entrepreneurs-in-times-of-crisis-anticipating-challenges","status":"publish","type":"post","link":"https:\/\/foundationforpuertorico.org\/es\/entrepreneurs-in-times-of-crisis-anticipating-challenges\/","title":{"rendered":"Emprendedores en tiempos de crisis: anticipar los retos"},"content":{"rendered":"\t\t
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Entrepreneurs in times of crisis: anticipating challenges<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
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septiembre 24, 2021<\/a><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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It is no secret that over the past decades Puerto Rico has faced an economic, political and social cris that has constantly tested our ability to move forward. In this sense, the ingenuity and perseverance that distinguishes us as Puerto Ricans have been the key to navigating this crisis. For our business owners and entrepreneurs this has been no exception. Due to the geographic nature of our archipelago, we find ourselves in a vulnerable position, constantly threatened by natural hazards that continue to increase in the face of new climatic realities. Therefore, being an entrepreneur in these times goes beyond a good business idea.<\/b> It requires a high level of adaptability and ingenuity to continuously respond to, cope with and overcome these challenges. This is precisely where the main virtue of entrepreneurs lies, being even more evident during the past hurricanes, earthquakes and the COVID-19 pandemic.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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There is a direct relationship between the resilience of businesses and a country’s economic growth and development.<\/b> When small businesses employ this adaptive capacity, it can translate into collective resilience at the community and regional levels, increasing the likelihood that socioeconomic systems will overcome natural and economic shocks. This is why governments around the world increasingly recognize the importance of entrepreneurship in stimulating economic growth.<\/b><\/p>

We recognize entrepreneurship and small and medium-sized businesses as integral to the economic resilience of communities, regions and local economies. However, Puerto Rico’s long recession, compounded by the calamities of hurricanes, earthquakes and the COVID-19 pandemic, has forced our entrepreneurs into what seems like an endless cycle of recovery. It is these contexts and the response efforts of Foundation for Puerto Rico (FPR), along with other business support organizations, that prompted the Ewing Marion Kauffman Foundation to commission FPR to conduct a case study<\/a> that would bring together the experiences lived in our archipelago, the role of organizations and the business ecosystem in recovery and resilience building.<\/b><\/p>

From the study conducted<\/a>, it is clear that in order to support existing entrepreneurs and encourage entrepreneurs, Puerto Rico needs a cohesive approach that facilitates the creation of resilient and innovative businesses, and the strengthening of existing businesses. This is where the concept of the \u201centrepreneurial ecosystem\u201d<\/b> comes in, emphasizing the interdependencies within the context of entrepreneurship and how local conditions affect entrepreneurial behavior.<\/p>

Puerto Rico’s entrepreneurial ecosystem has been able to respond to the onslaught of the past few years. Our experiences confirm that it is during disasters that the disparities between available and necessary resources to respond to a crisis are most evident. These disparities do not occur randomly, but are determined to a large extent by how organized and interrelated a given community or sector is, i.e., its ecosystem. Therefore, we must aim to improve the functioning of the elements that make up the ecosystem. This requires addressing the need for access to technology, promoting entrepreneurship at the educational level and improving access to non-traditional capital, among other things.<\/b> Once this optimal functioning of the ecosystem is achieved, we will be able to be more efficient in responding to the needs of entrepreneurs and businessmen, especially during crisis contexts.<\/p>

This case study could be seen as a starting point to understand the realities surrounding our entrepreneurial ecosystem, and the necessary steps for innovation, so that in the future we do not react to the crisis, but anticipate the challenges and be prepared.<\/b><\/p>

This column was originally published in El Nuevo D\u00eda<\/a>.<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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September 24, 2021 It is no secret that over the past decades Puerto Rico has faced an economic, political and social cris that has constantly tested our ability to move forward. In this sense, the ingenuity and perseverance that distinguishes us as Puerto Ricans have been the key to navigating this crisis. For our business […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-14232","post","type-post","status-publish","format-standard","hentry","category-latest"],"yoast_head":"\nEntrepreneurs in times of crisis: anticipating challenges - Foundation for Puerto Rico<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/foundationforpuertorico.org\/es\/entrepreneurs-in-times-of-crisis-anticipating-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entrepreneurs in times of crisis: anticipating challenges\" \/>\n<meta property=\"og:description\" content=\"September 24, 2021 It is no secret that over the past decades Puerto Rico has faced an economic, political and social cris that has constantly tested our ability to move forward. 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