Factors limiting the acceptance of ventures in the call for proposals from Fondo Emprender Colombia

Abstract

This study derives from the analysis of the factors that have limited the consolidation of entrepreneurship in the municipality of Duitama Boyacá, as most of the proposals submitted to the Emprender Fund are rejected. Therefore, the study sought to determine the strengths and weaknesses of entrepreneurs, as only 5% of those who apply receive financial resources, a situation that is important for the local government to strengthen the entrepreneurial system through an improvement plan that allows these limitations to be overcome. The study is based on a mixed approach with a quantitative focus, descriptive scope, and action research design. The findings identify deficiencies in soft and hard skills, as well as difficulties in market knowledge, business plan development, regulatory compliance, and understanding the terms of the call for proposals. Therefore, it is concluded that entrepreneurs must become aware of their strengths and weaknesses and strive to develop the key skills to become beneficiaries of financial resources that will enable them to realize their ventures.