Abstract

The aim of this study is to analyze the determinants of entrepreneurial consolidation in South America. To analyze the entrepreunirship phenomenon in South America and the determinants of start-up consolidation, this study uses logistic regressions and analyses of variance with a sample of 10,018 interviewees, gathered during 2002 to 2006, under the framework of the global entrepreneurship monitor (GEM) project. Men, young people, and those with little fear of failure attempt start-ups more often. Men, older entreprenuers, those starting a business to exploit opportunities, and those who consider entrepreneurship a good career alternative also exhibit a higher probability of consolidating. Finally, South American entreprenuers tend to invest in their ventures slightly more than the average entrepreneurs in all GEM countries, though, financing is not a significant factor for explaining consolidation.

Key words: Entrepreneur, entrepreneurial consolidation, individual motivations, opportinities, risk, GEM project (global entrepreneurship monitor project).