Entrepreneurship in Guatemala

Prior research emphasizes that opportunities are a "foundational element in entrepreneurship," including their "identification evaluation, and implementation." (Foo, et al. 2020; Shane & Venkataraman, 2000). Entrepreneurial opportunities are those "opportunities to bring into existence new goods, services, raw materials, and organizing methods that allow outputs to be sold at more than their cost of production." (Shane & Venkataraman, 2000). The opportunity recognition and exploitation process is critical for venture growth and success, as it is the means by which entrepreneurs differentiate themselves from competitors and earn a sustainable profit. Yet "[m]uch is left unanswered on the opportunity recognition process in emerging regions." (Foo, et al. 2020). While researchers have developed theoretical propositions as to how entrepreneurs in developing countries may identify and exploit opportunities, we have little empirical knowledge about this critical entrepreneurial process in the developing country context, leading to calls for further research. (Dencker, et al. 2021; Foo,