Characteristics of Colombian SMEs and their founders: An analysis in two regions of that country

Abstract

This research aims to make a description of Colombian small and medium enterprises -SMEs- and their founders. We performed a descriptive research with 384 firms located in the regions of Cundinamarca and Valle del Cauca. The results indicate that most firms are over 48 months old, their average annual sales are up to 1,6 million dollars, and the size of their personnel is up to five times the original size. Their founders, in general, are older than 36 years old, have a solid academic background, and they consider themselves as good leaders.