An expert assessment of the strengths and weaknesses of a sustainable entrepreneurial ecosystem in Latin America

The sustainable entrepreneurship ecosystem is a topic of great relevance today due to the problems caused by industrial production and mass consumption. Despite the research that has been carried out, there are still areas to be explored regarding the differences in qualities between sustainable and non-sustainable entrepreneurial ecosystems in Latin America. In order to gain a more profound understanding of the issue, this study analysed the responses of 92 experts in entrepreneurship to a self-administered online survey, with the purpose of recognizing differentiating characteristics of the sustainable entrepreneurship ecosystem in this region. The survey assessed several dimensions of the entrepreneurship ecosystem that are widely accepted in the literature. A comparison of the frequency distributions of the responses was conducted using descriptive analysis and the non-parametric Wilcoxon Mann-Whitney U and median comparison tests. The results indicated that perceptions regarding access to financing, public policies for entrepreneurship and education are more favourable for sustainable ventures. Conversely, perceptions regarding access to professional services, regulations that facilitate market entry, the availability of physical infrastructure, and a national culture that encourages entrepreneurship were perceived less favourably for the creation of sustainable business. The results provide novel characteristics of the sustainable ecosystem in the region, which can inform the creation of targeted public policies and governmental regulations. These policies and regulations have the capacity to facilitate the development of enterprises that are oriented towards enhancing societal welfare and safeguarding environmental resources.