Brazilian entrepreneurship faces challenges with high business closure rates and a majority of one-person businesses. Despite recent economic growth, many new ventures struggle to survive the first year. However, the process of opening a business has become significantly easier, with the time decreasing drastically due to digital systems and reduced costs.
Digitalization is a must
The government is investing in increasing digitalization among businesses to boost competitiveness. The pandemic accelerated the adoption of digital strategies by small businesses, highlighting the importance of online presence and sales. Access to banking services has increased, but credit availability remains a challenge for many.
Startups against all odds in Brazil
Brazil has seen growth in its startup ecosystem, producing more unicorns than any other Latin American country. However, recent economic conditions have impacted investment in the region. Despite challenges, there is optimism for future innovation and entrepreneurial growth, with a large portion of Brazilians showing interest in starting their own businesses.
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