Global Entrepreneurship

Essay by yourdavidsonUniversity, Bachelor'sB+, May 2004

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While there are many factors for choosing a particular country or foreign markets to develop a small business, I have chosen a country with a broad range of entrepreneurial opportunities. Some countries or markets are conducive to certain trades, products or services to be successful for small business market penetration. Chile, I believe has recent national factors with great potentials for development of many different types of entrepreneurial activities. According to Global Entrepreneurship Monitor, among the 40 GEM countries Chile is rated as one of the highest in entrepreneur activity and expects that to have an innovative impact on the market growth. Countries that promote these activities can benefit from the production of goods or services and the creation of jobs, which often leads to national economic growth. (Autio, E., et. 2003)

Chile has experienced a decade of positive growth from stable economic policies within a newly renovated democratic government structure toward free trade.

With this stance on trade and other economic issues the U.S. government and Chile have developed the strongest relationship in the countries history. In 2002 the Chilean Government committed to some microeconomic reforms to create new incentives for private investment. (Background Note: Chile)This has developed a new direction of their commercial relationship U.S., leading to the latest Federal Trade Agreement signed in January 2004, which brings about new opportunities for U.S. entrepreneurs in one of the most attractive and open stable markets in Latin America. "Under the FTA, some 85% of bilateral trade between the two countries will be duty free immediately, with most other tariffs phased out over the course of the next four years. All trade between the two countries will be duty free by 2015." (Doing business in Chile) The Foreign Investment Law in Chile shows the welcoming attitude toward foreign investment and...