Referential framework for entrepreneurship development in Venezuela, year 2023

Abstract

This article introduces a proposal for a normative and procedural referential framework aimed at fostering entrepreneurship in Venezuela. The framework aligns with the provisions outlined in the Law for the Promotion and Development of New Entrepreneurships in Venezuela, enacted in 2021. This tool is designed to empower entrepreneurs by providing insights into the benefits offered by the aforementioned law when dealing with government agencies. Moreover, it encourages the development of a more structured and organized operational management approach covering accounting, tax, legal, cost, and internal control aspects. In order to achieve this objective, the research employed a feasible project methodology with a design combining documentary and field elements. Data collection involved surveys and informal interviews, administered to a sample of entrepreneurs and representatives from public entities referenced in the aforementioned law, respectively. The results demonstrated that the surveyed entrepreneurs are not sufficiently informed about the law and its content; instead, they base their decisions on the premise of cost and expense reduction and operational simplification. Furthermore, the findings indicated that the innovative initiatives outlined in the law, intended to promote, and nurture entrepreneurship in the country through institutional coordination among relevant public entities, have not been fully achieved. Therefore, information related to the utilization of the benefits it encompasses has not been effectively disseminated to potential entrepreneurs.