Challenges of Ecuadorian entrepreneurship, transcending to post-pandemic times

Abstract

The systemic and unexpected changes, derived from COVID-19, abruptly pushed Ecuadorian enterprises to disassociate themselves from the traditional on-site business model. In this sense, they were forced to incorporate innovation and communication technologies, with little preparation and knowledge, moving towards a remote business model and inserting themselves into the digital economy, to respond to the new post-COVID-19 reality. This led to analyze the Ecuadorian entrepreneurship in the pandemic as well as the challenges to be faced in the post-pandemic period, through a documentary review on the incidence of the crisis context in its evolution, the findings, and obstacles to be faced in Latin America; as well as the actions used by entrepreneurs and the government to face the pandemic, being essential to also address the rise of digitalization and the challenges to be faced. The results show that Ecuadorian entrepreneurship is in a process of internal adjustments due to its own needs and influenced by the environment by the health crisis, public policies, and the new regulatory framework. It is concluded that the country requires a profound change in entrepreneurship, where the digitalization of processes and digital literacy are the basis for economic resurgence; however, this implies challenges and joint efforts of all economic and governmental agents over time, to demonstrate a prosperous evolution that contributes to the stability of enterprises, and therefore, of the national economy.