Total Entrepreneurial Activity for 2004 = 27.24%

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World Average TEA 9.6
South American Average TEA 16.6

Entrepreneurship in Ecudaor

• Ecuador’s unemployment rate is 16.6%
• Ecuador’s population is ~13.2 mil. With a labor force of 4.36 mil
• The labor force is focused in three occupations: agriculture, industry and services.
• 65% of Ecuador’s population is below the poverty line.
• The average labor costs for Ecuador are 85 cents per hour.
• The Ecuadorian government is taking steps to encourage new business investments.
• The government created the Business Development Agency to provide Entrepreneurs with the necessary assistance to start a business.
• It used to take 2-6 months to register a business – Now it takes 22 days.
• The total franchise market size in 2001 was ~$110 mil and was expected to grow 15-20% for the next two years.
• In Ecuador, women are more likely to consider new and innovative solutions.

Best Bets
ECUADOR GEM 2004 Report
Reducing Obstacles for Business in Ecuador

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