https://doi.org/10.37955/cs.v6i3.275

Received: November 13, 2021 / Approved: February 18, 2022 Pages: 119-140

eISSN: 2600-5743

Post Pandemic Entrepreneurship

Surge: Impact on Economic Growth

Incremento de Emprendedores post pandemia:

Incidencia en el crecimiento económico

Jenny Maldonado Castro

Universidad Técnica Estatal de Quevedo - Ecuador, School of Business Sciences,

jmaldonado@uteq.edu.ec, https://orcid.org/0000-0003-1531-7695

Angel Maldonado Castro

Universidad Técnica Estatal de Quevedo - Ecuador, School of Business Sciences,

amaldonado@uteq.edu.ec, https://orcid.org/0000-0001-6478-7365

Daniel Parra Gavilánez

Universidad Técnica Estatal de Quevedo - Ecuador, School of Business Sciences,

dparra@uteq.edu.ec, https://orcid.org/0000-0002-0645-2767

María del Carmen Guzmán Macías

Universidad Técnica Estatal de Quevedo - Ecuador, School of Business Sciences,

mguzman@uteq.edu.ec, https://orcid.org/0000-0003-1333-0263

ABSTRACT

The effect of the pandemic originated by Covid-19 has caused

variation in the economy worldwide affecting various sectors, this has

caused people to think of new ways to generate economy for their

households and become entrepreneurs. The economic crisis and

periods of high unemployment can push people towards self-

employment due to the absence of other opportunities, an

entrepreneurship is initiated, as a tactic to confront the challenges of

economic and work components that arise throughout life, this has

generated considerable importance due to the emergence of the

pandemic. This research paper on the increase in post-pandemic

entrepreneurship and its impact on economic growth seeks to

conduct an analysis of the increase in post-pandemic

entrepreneurship and how it has contributed to economic growth.

Centro Sur Vol. 6 No. 4- October - December - Revista Centro Sur - eISSN: 2600-5743

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For the development of this research the deductive methodology was

used in addition to a documentary research by means of

bibliographic analysis different stages of elaboration were reached.

The virus called Covid-19 is causing damage to the economy

worldwide, more acute than the economic crisis of 13 to 14 years ago

due to the changes we had to go through, it is estimated a reduction

of the economy for the region of 1.8% of GDP and 10.0%, regarding

unemployment on average.

RESUMEN

El efecto de la pandemia originado por el Covid-19 ha ocasionado

variación en la economía a nivel mundial afectando diversos sectores,

esto ha provocado que las personas mentalicen nuevas formas de

generar economía para sus hogares y se vuelven emprendedores. La crisis

económica y los períodos de alto desempleo pueden empujar a las

personas hacia el autoempleo debido a la ausencia de otras oportunidades,

se inicia un emprendimiento, como una táctica para confrontar los

desafíos de los componentes económicos y de trabajo que se

presentan a lo largo de la vida, esto ha generado considerable

importancia debido a la aparición de la pandemia. Este trabajo de

investigación sobre el incremento de emprendedores post pandemia

y su incidencia en el crecimiento económico, busca realizar un

análisis acerca del incremento de emprendedores post pandemia y la

manera de cómo ha contribuido en el crecimiento económico. Para el

desarrollo de esta investigación se utilizó la metodología deductiva

además de una investigación documental por medio de análisis

bibliográficos se alcanzaron diferentes etapas de elaboración. El virus

llamado Covid-19 está causando daños en la economía de todo el

mundo, más agudos que la crisis económica de hace 13 a 14 años

debido a los cambios que tuvimos que atravesar, se estima una

reducción de la economía para la región del 1.8% del PIB y el 10.0%,

respecto al desempleo en promedio.

Keywords / Palabras clave

Innovation, entrepreneurship, economy, covid-19.

Innovación, espíritu empresarial, economía, covid-19.

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Introduction

The effect of the pandemic originated by Covid-19 has caused

variation in the economy worldwide affecting various sectors.

(Pantano et al., 2020). Pandemic emergence is rare but when it

occurs it requires multidisciplinary collaboration between

government and private resources. (Ratten, 2020b). In the same way

this makes people think of new ways to generate economy for their

homes and become entrepreneurs. (Haneberg, 2019) The "They learn

by responding to critical events through the process of enterprise

development and management".

The start of a business is linked to invention, because it helped the

progress of the economy, it is deeply linked to plasticity and knowledge,

elements that are the beginning of competition in the global economy,

where competitiveness is increasingly greater, which stimulates a need

for the authorities of the country to promote through projects the start of

ventures to help solve the needs that the pandemic has left us (Sornoza et

al., 2018).

The section of small companies is the one that has felt even more the

economic crisis since they have problems to continue with their

normal actions, besides that some have difficulties to perform their

commitments with the banks also to have difficulties when acquiring

a credit to invest in their business, so also some owners of enterprises

have seen it as an opportunity to innovate to improve the purchase of

their products and compete with advantage compared to other

businesses. (Aguilar & Heredia, 2020).

In a considerable amount ventures do not have fixed ideas, materials

in addition to negotiating skills to face new challenges (Doern,

2016);(Smallbone et al., 2012)Therefore, it will depend on this

whether there are losses or gains in entrepreneurial equity. And so

this research is carried out in order to analyze the growth of

entrepreneurs post pandemic and its influence on economic growth.

In 2019 we were surprised with a virus that was the "COVID-19 is a

virus that first originated in Wuhan city in late 2019." (Toresdahl &

Asif, 2020). Some time later "The World Health Organization (WHO)

declared the coronavirus (Covid-19) a pandemic on March 11, 2020."

(Liguori & Winkler, 2020). In addition, as he points out, (McKibbin

& Fernando, 2020) "As a result, the daily life of society has changed

rapidly with restrictions imposed on public events, including

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marriages, concerts and sports. There has been a decline in economic

activity and economists are predicting both recession and

depression."

At the same time due to "Economic downturn and periods of high

unemployment can push people towards self-employment due to the

absence of other opportunities." ( Dawson & Henley, 2012). This

means that based on the situation they are going through due to the

need to subsist they consider other possibilities to generate economy

and one of them is to develop as entrepreneurs given that they will be

their own bosses having a stable job (Devece et al., 2016).

Entrepreneurship is initiated, as a tactic to confront the challenges of

economic and work components that arise throughout life, this has

occupied considerable importance due to the emergence of pandemic

(Triana & Dias, 2020). Likewise undertaking aids in the modification of

thoughts in production and new benefits, driving to the foundation of

companies of different types (Reis et al., 2019).

Of equal importance it has occupied greater transcendence to face the

different universal obligations in the part of work, performance, new

ideas, development of the economy (Sousa, 2018). In addition, for an

idea, whether entrepreneurial or not, to be conceived to its

foundation of value, it needs an opportunity to be recognized, in

addition to diligence resources of different means and to run the risk

of putting it into practice to the market, so that the foundation of

value that exists is the one that gives the sense to the creation of new

ventures (Javier et al., 2021).

The hierarchy of the image of the entrepreneur in the face of an

economic difficulty, thus the unraveling of the characteristics of the

entrepreneurial action is inciting that there is an increase of

exploitation in recent times of the individual who concludes to place

to the market his business. There coexist explicit particularities that

are found in an entrepreneur: companionship, not to give up, new

ideas. (Jiménez-Zarco, 2012). Since the development of the

entrepreneur in the present past and future has been linked to the

primary resource to maintain the economy of a state by means of its

participation (Nicolás Martínez et al., 2019)..

The danger caused by the difficulty we are going through due to the

pandemic was linked to the price hikes, the institutional obstacles

and the consequences of the deteriorated economies on the users, the

investments of the patrimonies that could not get by (Doern, 2016).

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On the other hand, in the production of major and minor economic

groups, such as the tourism sector, which is the source of income of

most countries, depends on it, as well as on entertainment.

Restrictive measures such as social distancing and confinement cause

most people to work from home or too, which induced a decline in

the productivity of enterprises. (Hevia & Neumeyer, 2020).

"Entrepreneurship has emerged as a policy priority and a

strategy for economic growth. In the early 1990s, virtually no

economic analysis or leading economic policy intellectuals

would have targeted knowledge and

entrepreneurship"(Audretsch, 2018). Reciprocally

entrepreneurship is subject in relation to the implementation of

new ideas, as it contributes to economic progress, it is deeply akin to

plasticity and discernment, elements that are principle of competition in

the universal economy (Sornoza et al., 2018)..

The pandemic has caused disastrous results in entrepreneurship and as a

result in the country's economy, as well as elements inside and outside the

country that allow the establishment of new ventures. (Maritz et al.,

2020). The importance of community entrepreneurship is

emphasized, pointing out that in times of emergency and deep

community inconveniences, it is essential to find opportunities as

well as solutions to reduce the impact of the pandemic on the

country's economy. (Nassif et al., 2020).

One of the changes we had to go through because of the pandemic is

the implementation of technology in the workplace and integrating it

into our daily lives. Due to the change the work is done from home,

with millions of people in confinement technology has been a

solution, it has allowed from medical care to food delivery through

electronic devices, maintaining the relationship between everyone,

this change has helped to keep the productivity up. (Shaker, 2020).

Experimental exploitation makes it known that technological

invention helps growth while the economic crisis is ongoing. (Peris-

ortiz et al., 2014)..

"Social networks such as Twitter, Instagram, and TikTok, and

videoconferencing applications such as Google Meet, Webex, Zoom,

and Kudo have proven to be essential during this period for many

organizations to deliver their products or services." (Haeffele et al.,

2020). These platforms also help us to create interaction with new

research and news media. Since it is important to be updated to

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innovate in the commercial market and be available to the needs of

individuals who acquire the product today, due to the pandemic crisis

have been very helpful. (Jiménez-Zarco, 2012).

Due to the economic management that were used in order to deal

with the pandemic, it is still uncertain how many effects it has caused

on the economy worldwide. This arrangement was replicated by

other countries as the pandemic spread around the world. (Ratten,

2020a). At the same time the usual economic results of the pandemic

crisis are considering a big mark on consumer performance. In all

places of entrepreneurship such as bars, nightclubs, hotels among

others due to the closure that has occurred and has been for a long

time . (Lin & Jaén, 2020).

The demand of the countries to stop the transmission of covid-19

through different restriction measures such as social distancing,

confinement, border closure, and other measures has caused a

commercial decline (Portuguez & Zermeño, 2020). In the same way, due

to the difficulties that we are experiencing, productivity is stagnating,

resulting in the failure of companies and the lack of employment

worldwide. (Proaño et al., 2020)..

The driving circumstances are correlated in the state of pushing to

the limit those that require people to start their entrepreneurship due

to the absence of employment opportunities to lead a dignified life.

The impelling causes incorporate different situations which are:

finding independence and decreasing the difficulty to have a decent

job due to educational background factors, ethnicity, economic level,

gender, etc. (González-gonzález et al., 2011).

The entrepreneur makes his way through the different difficulties

that arise from the opening of his venture, activates the economy,

drives the plasticity of productive spinning by means of new

innovative ideas (Martínez & Bañón, 2020). Likewise, a business that

is in the encounter of a new opportunity has an increased chance of

prospering and also a reason for its owner to overcome the lack of

employment. (Molina et al., 2015).

The willingness for entrepreneurship and entrepreneurs to move

forward with new ideas that bring value to increase the economy by

creating jobs with new businesses, making this paramount for many

states (Kraus et al., 2018). "Therefore, the study of how

entrepreneurs and SME entrepreneurs overcome these adversities

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becomes relevant to better understand how to manage the crisis and

reduce its impact." (Voda & Florea, 2019).

One of the fundamental causes in the two phases is the entrepreneur

why he uses the goods that are on his side to produce utilities that

will be marketed in the collectivity the significant thing is that the

course of commercialization follows its development and that he

makes a fair price in order not to disadvantage its increase in the

porvenir (Galindo-martín & Méndez-Picazo, 2016). Starting from an

entrepreneurial representation, the entrepreneurs are officials of

permutation because the action taken involves giving rise to

companies, applying methodologies and a new manufacturing

distribution, the establishment of new services or even the search for

new clients. (Fernández-Serrano & Romero, 2013)..

Ventures are affiliated with individuals looking for an opportunity in the

marketplace that are intertwined with invention and economic growth

(Marulanda Valencia et al., 2014). In the midst of which are opportunity

driven, those are life train ventures, among them produce a favorable

environment of entrepreneurship, which help prosperity over a

prolonged period of a society (D. Dawson et al., 2011).

The pandemic has originated a double encounter in the universal

economic structure. On the one hand, the pandemic proposal

resulted in an imminent paralysis of the strong commercial groups

harmed by the confinement slowing down the continuous production

of products on a massive scale. At the same time this same proposal

originated a steep increase in products in the health area for self-

security, technological products for families and left aside the

services or products that were not important such as hotels, canteens,

discotheques.... (Manolova et al., 2020)..

The enterprises belonging to the female sex are susceptible to

economic problems because their enterprises are young and small

compared to the other enterprises, in the same way they are in the

group that has been most damaged by confinement (Kalnins &

Williams, 2014). Likewise "More than 50% of women entrepreneurs

operate in the wholesale/retail sector, compared to 42.6% of men,

and 17.2% of women operate in the government/health/education

sector." (Palacios Duarte et al., 2020)..

"In March 2020, in the face of stock market crashes such as in the US,

Europe, Asia, UK and Japan central banks and policymakers

responded immediately by developing instruments such as the

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Federal Reserve (Fed)" (Zhang et al., 2020). So much so that

financials, essentially because of their habitat, are not fragile in times

of economic crisis, due to the possibility of debtor benefits and the

possibility of excessive bank litigation, which means that they are not

considered as a primary source of investment in this type of

economic period. (Goodell, 2020).

Due to the seasonal or indelible blockage of infrastructures, the

markets were forced to remove their employees from their jobs or

send them on unpaid leave, and even a slight decrease in the number

of employees caused a depreciation of the products and caused

serious difficulties for the companies. (Nicola et al., 2020). In the

course of this time, employees have developed emotional problems

triggered by work problems or family burdens resulting in a decrease in

productivity as well as difficulty to fight in the working and economic

world. (Ozili & Arun, 2020).

The actions of entrepreneurs increase the production of institutions,

which at the same time promotes the economy, however, in the pandemic

we are going through most of the companies had to decrease their

manufacturing or turnover resulting in unemployment (Fernandes,

2020). "On the other hand, as of March 30, the number of Covid-19

cases increased to 735,210, in almost 100 countries. The number of

deaths approached 34,808, showing the sheer magnitude of the virus'

impact." (Sohrabi et al., 2020).

Ventures have been harmed by the pandemic. There is an argument

that these variations in uptake will operate as a hazard that can affect

both parties (Shane, 2011). In the future these alterations may have a

negative response and lower the interest that recent entrepreneurs

have, contrary to others who think that these alterations can be

positive and help to innovate commercially. (Brown & Rocha, 2020).

The unprecedented downturn in the economy and ventures

internationally there is a global downturn in the world's economy, in

view of a decline in the creation of new ventures this has occurred

due to the pandemic even more so in places that rely on marketing

and tourism (Papadopoulos et al., 2020). "Due to this pandemic, a

30% to 40% reduction in their entrepreneurial activity is observed.

As a result, a loss of $2.2 million has been reported in the sector."

(Guan et al., 2020).

A lot of work was done to be able to adapt to distancing and

confinement, which, to most countries, with their strong economy,

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for the most part their ventures were forced to close and slow down

contact, which triggered a major setback in the economy globally

(Sergi et al., 2019). The most affected countries perceive a shock that

greatly harms their economy in half of half a year these countries

would pass to danger of crisis which triggered a comprehensive

setback. (Cervelló-Royo et al., 2020).

Materials and Methods

For the elaboration of this research work, the deductive methodology

was used in addition to a documentary research by means of analysis

of different bibliographies that were previously chosen, within which

20 articles were selected guided by key words Covid-19, innovation

and entrepreneurship that helped the development of the topic Increase

of entrepreneurs post pandemic, and its incidence in the economic

growth.

For the advancement of this research topic different stages of elaboration

were reached, in addition an estimated time of presentation was proposed,

within these stages we have the brainstorming to obtain the key

words by means of these words we elaborated the topic and searched

for related articles, later we carried out the justification, objectives,

introduction, literature review, methodology, results and finally

conclusion.

Results

The consequences of the pandemic affected all health systems, there

was no health sector, no matter how much organization was

implemented during covid-19 that was fully organized to face an

epidemic that soon became a pandemic crossing borders and

countries, there was a collapse of the health system both public and

private, taking into account the lack of equality in different countries

where access to health is through insurance which not all have it,

social isolation and confinement have also affected the education

system, transportation, commercial tourism and others. (Hernández,

2020).

According to the statistics of the Economic Commission for Latin

America and the Caribbean, the virus called Covid-19 caused a

pandemic and this will cause damages in the economy of the whole

world, more acute than the economic crisis of 13 to 14 years ago due

to the changes we had to go through with the crisis in all sectors as

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well as isolation followed by additional confinement to

unemployment due to the lack of economic resources of the

companies to maintain their production.... (Hu Chan et al., 2021).

Likewise, according to ECLAC in the year 2020 with reference to:

The new economic outlook for the region's main partners and the

collapse of export prices, the value of the region's exports is affected

by about 15%, with a decrease in prices of 8.8% and a reduction in

volume of 6%, which is mainly due to the increase in the reduction of

world demand.(ECLAC, 2020b)

With reference to what happened in Latin America with employment,

unemployment and development of entrepreneurs followed by the

decisions that companies had to make about employees and their

economic future caused by covid-19, in addition to the decisions they

had to make so that their businesses would not close and that they could

compete with others, we obtain the following percentages:

Regarding the decision to maintain personnel during the pandemic, the

COVID-19 gives us a result of 28.6% of maintaining personnel and

23.8% of dismissing personnel until returning to normal. With 66.7%

during the pandemic, many entrepreneurs had credits in banking

entities, when continuing with the enterprise the entrepreneurs opted

with a total of 33.3% to innovate, followed with 23.8% in the capacity

to manage their business. (Cando-Morales et al., 2021).

The problems of world economic level are having their appearance

and their blow in the normal development of the buyers in all their

businesses since they had to close during the period of confinement

in the pandemic and this had repercussion in the economy of the

countries, as well as Lin and Jaén teaches us with reference to the

International Monetary Fund tells us that:

The International Monetary Fund's first IMF 2020 projections

estimate a 6.1% drop in GDP for developed economies in 2020 and a

1.0% drop for emerging market and developing economies. The

unemployment rate is expected to grow by 25-50% in the most

advanced economies. Thus, for Eurozone countries, it is expected to

reach 9.2%, up 39% from 6.6% in 2019. The outlook for the US is

even worse (from 3.7% in 2019 to 10.4% expected in 2020, 181%

growth). However, the most recent forecasts from national

governments are substantially worsening the outlook. (Lin & Jaén,

2020)

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The European Commission also helped with strategies to support the

economy due to the impact caused by the pandemic and help mitigate

the effects as well as to stabilize it by showing new options to survive

during this crisis and to face the competition between companies, as

Rowan and Galanakis mention that this proposal was initiated on:

On May 27, 2020, the European Commission presented a €750

billion stimulus plan to alleviate the impact caused by the Covid-19

pandemic and, at the same time, opened a new path towards

innovation and sustainable business development, albeit with a lack

of specific details to support a techno-socioeconomic ecosystem that

will lead F&D companies beyond the Covid-19 pandemic. (Rowan &

Galanakis, 2020)

In addition, economic development in North and South America has not

borne fruit, unlike in China, and these countries are the ones that play

an important role in the global development of production and export of

products for all needs due to the global crisis, as ECLAC tells us about the

fall of activity in these countries:

The downturn in world economic activity, particularly in the United

States, China and Europe, has a negative impact on Latin America

and the Caribbean through trade in terms of volume and price,

especially of raw materials. Some productive sectors of countries in

the region are part of global value chains in which the United States

and China play a fundamental role. In addition, Mexico and Central

America are exposed to the contraction of the U.S. economy also

through the reduction of migrant remittances. The main partners of

the religion would fall about 15%, with an 8.8% decline in prices and

a 6% volume contraction in global demand.(ECLAC, 2020a)

The consequences in the supply and demand of the products have

been reflected in the production of the old companies as well as new

ones before and after the pandemic originated by Covid-19, these

percentages reflect a joint decrease if there has been progress in the

production of their services, as stated by the authors Martínez and

Bañón by means of:

The analysis of the effects of the pandemic on the demand for

products and services...shows that 50.2% of companies have

seen a notable reduction in demand, while 30% have seen their

activity paralyzed as their businesses have been closed. The

remaining 19.8% have increased their demand or have not seen

the quantity of products or services sold affected. There are no

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significant differences with the rest of the variables

analyzed.(Martínez & Bañón, 2020)

According to ECLAC, the possible changes in the price of production

and export of basic necessities will produce an increase in the cost of

these products, making it more difficult for the unemployed to

acquire them, and they will look for new ways to subsist by

generating their own income, as the pandemic is expected to develop:

A drop of 5.2%, some countries in this subregion are greatly affected

by the fall in activity in China, which is an important market for their

exports of goods. Such is the case of Chile, Brazil, Peru and Uruguay,

which send more than 20% of their exports to China (more than 30% in

the case of Chile). South America will also be affected by the decline in

commodity prices. (ECLAC, 2020b)

"The analysis of the conditions necessary for the presence and absence of

growth expectation for the new business. All consistency values for

the conditions fall below the minimum threshold of 0.9"(Schneider et

al., 2010).. Thus, according to these data, it shows that the ventures

do not need some circumstance for the venture to prosper or not to

prosper.

McMullen tells us how entrepreneurship develops in different

countries through a study of factors at the same time with reference

to the studies conducted by McMuellen the author Amorós allows us

to be aware of the effects and what are the consequences on

entrepreneurship produced at the time that is going through a crisis

all this with reference to:

Ten factors related to economic freedom and how they affected both

the need and opportunity for entrepreneurship in 37 different

countries. Most of the countries were developed, but some emerging

and developing countries were included. They found that there were

differences in the "freedoms" contributing to each type of

entrepreneurship. (McMullen et al., 2009) Based on these results to

analyze what they called "state fragility" and how it affects

entrepreneurial activity. They found that state fragility has a positive

effect on need-based entrepreneurship, while hindering opportunity-

based efforts. (Amorós et al., 2019)

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"Entrepreneurship by necessity is more prevalent in emerging

economies. Therefore, it is necessary to recognize the importance of

the institutional framework." (Reynolds, 2012). Entrepreneurship

since last year 2020 emerged with more elevation due to the health

crisis produced by Covid-19 accompanied by the need to

economically sustain their households since through their own

ventures they acquire a direct profit.

"Some contradictory findings also deserve further attention.

Research has found that existing small and medium-sized enterprises

(SMEs) are highly resilient to external shocks and crises, with very

high survival tsas"(Dahles & Susilowati, 2015). Likewise, with respect

to economics, the refutation of this argument will be of great

importance to address when and where the enterprises are organized to

continue to exist and survive in times of difficulty. (Klapper & Love,

2011). Likewise "In this sense, there is some evidence of declining levels

of entrepreneurial activity in several countries". (Decker et al., 2016).

Although complications in the continuation of local supplies in addition to

economic losses have initiated an increase in food uncertainty in

several developing countries, worldwide consumption of food

products has been largely unaffected because of the high inelastic

collective demand for agricultural services. (Elleby et al., 2020).. On

the other hand, a survey conducted in Ecuador determined the

percentage of business closures during the development of the

pandemic, as reported by the author Lasio:

According to a survey conducted by the GEM Ecuador team to 150

business owners, 24.67% indicated that they closed their businesses

due to the pandemic, 69% suffered a negative effect and 23% stated

that they were strongly affected by the crisis, with the risk of closing

their businesses. Likewise, they reported having achieved a portfolio

recovery of 47.89% in the period March-May 2020, a proportion that

decreased by 20% compared to the same period of 2019. (Lasio et al.,

2020) At the same time, Alvarez Toala and Granoble Chancay show

us the growth of companies in 2021 in Ecuador:

According to the Superintendence of Companies, during that time

281 new businesses were registered throughout Ecuador. Of this

group, 89 establishments were located in this segment. Most of them

were concentrated in the most populated provinces such as Pichincha,

Guayas and Manabí. Therefore, there are about 99.55% of companies

in the country, of which 90.78% are micro companies, 7.22% are

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small companies, followed by medium companies with 1.55% and

large companies with 0.46%. (Alvarez-Toala & Granoble-Chancay,

2021).

Conclusions

To conclude with the analysis of the different articles related to the

subject, increase of entrepreneurs post pandemic and incidence in

the economic growth, it was found that the appearance of the

pandemic had influence in the economy since all the export prices

plummeted due to the fact that all the countries are going through a

sanitary crisis in addition to social isolation and confinement especially

in countries with more demand for products such as the United States

and China, likewise due to this situation the companies had to lay off

their personnel increasing unemployment, and as a result as a whole this

affected the supply and demand of the products.

As a consequence of the increase in unemployment, people opted to

look for new ways to generate income and the entrepreneurial spirit

of each one emerged, thus initiating the creation of their

microenterprises, in the same way, people who already had their

enterprises or consolidated companies implemented a change

towards innovation, generating attractive strategies to consumers, as

well as generating and extending their profits in competition with

other enterprises.

Finally, the growth of entrepreneurs has not caused the economy to

undergo significant changes, because they put this idea into practice

due to the lack of employment opportunities, in addition to the

reduction in global demand for products, and exports were not

beneficial since they are a source of income that helps to expand the

economy by increasing production, Consequently, the pandemic has

caused more acute damage than the crisis of 13 or 14 years ago,

because the measures to prevent the spread of the virus were very

strict, the health, economic and other systems were not prepared to

go through this crisis, and the prospects of the fall of the GDP are

getting worse and worse.

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