Strategic Productivity Models in Emerging Ventures: An Approach from the Sena Emprender Fund in Barrancabermeja, Santander (FACE Revista de la Facultad de Ciencias Económicas y Empresariales)

Summary

• The Fondo Emprender was established in Colombia in 2002 to foster sustainable venture creation through seed capital and technical advisory [p.3].p.3
• DANE reports that around 30 % of microenterprises established in Colombia in the last five years show weaknesses in their productivity indicators [p.4].p.4
• Confecámaras data indicates that the business mortality rate for micro and small companies reaches 42 % within their first three years of operation [p.5].p.5
• Between 2000 and 2023, Fondo Emprender financed more than 5.000 national initiatives with an investment near 400.000 million pesos, generating around 20.000 formal jobs [p.5].p.5
• In Barrancabermeja, 45% of surveyed Fondo Emprender ventures operate in commerce and services, while 25% belong to the agricultural sector [p.9].p.9
• A total of 60% of the region's analyzed ventures have been in operation for between 1 and 3 years [p.9].p.9
• Primary operational obstacles facing local ventures are administrative management cited by 40% and access to markets cited by 30% [p.9].p.9

Key insights

1. Fondo Emprender allocated nearly 400.000 million pesos between 2000 and 2023 to support over 5.000 entrepreneurial projects in Colombia [p.5].p.5
2. In Colombia, nearly 30 % of microenterprises created over the past five years display persistent productivity gaps [p.4].p.4
3. The business failure rate among Colombian micro and small enterprises stands at 42 % during the first three years after creation [p.5].p.5
4. Ventures in Barrancabermeja show a heavy sector concentration in commerce and services at 45%, followed by agricultural projects at 25% [p.9].p.9
5. The majority of supported ventures, representing 60%, are currently in their consolidation stage with 1 to 3 years of activity [p.9].p.9
6. Medium-level seed financing was received by 70% of surveyed businesses, whereas only 10% obtained high funding allocations [p.9].p.9
7. More than half of the entrepreneurs, specifically 55%, rate their internal productivity at a medium level [p.9].p.9
8. Deficiencies in administrative management represent the most recurring hurdle, reported by 40% of the surveyed ventures [p.9].p.9