economy
Emprending in Venezuela is much more than having a good idea
Amidst the long crisis that has plunged millions of families into poverty in Venezuela, entrepreneurship has been a lifeline for many people and a way to create self-employment income.
TL;DR
- Venezuela lost 1.3 million entrepreneurs between 2024 and 2025, dropping from 2.7 million to 1.4 million.
- The decline is linked to inflation, devaluation, international sanctions, tax burdens, and reduced consumer purchasing power.
- The Early Stage Entrepreneurial Activity (TEA) rate fell to 7.7% in 2025, the lowest since the study began in 2003.
- Entrepreneurship is largely driven by necessity, with 88% of entrepreneurs citing the lack of jobs as their primary motivation.
- Key recommendations for success include prioritizing financial management over enthusiasm, ensuring sufficient cash flow for 4-6 months, and focusing on profitability over volume.
- Utilizing e-commerce, free software, and prioritizing customer retention are advised to mitigate costs and competition.
- Collaboration with other entrepreneurs for shared resources and logistics is encouraged.
- The Venezuelan entrepreneurial ecosystem relies heavily on private sector efforts, with limited public sector support.
- Empresas Polar has launched a program to support the development of startups into high-impact companies.
- Only 1.9% of Venezuelan entrepreneurial ventures are categorized as 'established,' indicating a low survival rate beyond 3.5 years.