QCOSTARICA — Last week, on June 27, Micro Pequeñas y Medianas Empresas (PYMEs) – Micro, Small and Medium Enterprises – day was commemorated. According to data from the Ministry of Economy, Industry and Commerce (MEIC), PYMEs represent 97.4% of all companies. Likewise, they concentrate more than 33% of the total employment generated by the private sector, and contribute more than 36% of the country’s GDP, according to the Centro Latinoamericano de Innovación y Emprendimiento (Celiem) – Latin American Center for Innovation and Entrepreneurship.
For this reason, Alegra.com, the accounting and electronic invoicing software for entrepreneurs, presented the results of the second edition of the study “Latin America undertakes: An analysis of PYMEs in the region”, which aimed to deepen the panorama of PYMEs in Costa Rica other countries in the region.
The study, which took into account more than 700,000 entrepreneurs in the region, shows that almost 30% of entrepreneurs in Costa Rica are over 55 years old. Thus, after Argentina, the country is positioned in second place for leadership in the Senior Entrepreneurship category.
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Senior Entrepreneurship is defined as the growing trend of people aged 55 or over who decide to start and manage new businesses or business projects. This global phenomenon, which has gained notable traction in recent decades, reflects a transformation in the perception of age and retirement. Instead of completely retiring from the working world, many seniors become entrepreneurs, using their vast experience and skills accumulated over the years to create companies.
Wisdom and experience as assets
This age group has a wealth of knowledge and experience accumulated over the years. This not only translates into a greater ability to make informed and strategic decisions, but also remarkable resilience in the face of business challenges.
In Costa Rica, Senior Entrepreneurship has a significant impact on both the economy and society. Economically, businesses led by senior entrepreneurs contribute to job creation and economic growth. These businesses usually have higher survival rates due to the experience and knowledge of their founders.
Socially, senior entrepreneurship challenges aging stereotypes and promotes a positive image of old age. By staying active and engaged, senior entrepreneurs contribute to a more inclusive and diverse society.
In this regard, Jahzeel Cordero, Strategic Leader of Alegra.com in Costa Rica, expressed: “Senior entrepreneurship not only enriches the business ecosystem with the experience and wisdom of the elderly, but also demonstrates that it is never too late to start a business and contribute to national economic development.”
New challenges
However, this group of entrepreneurs brings with it the great challenge of adapting to new technologies and the current market, which is constantly evolving.
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Senior entrepreneurs must leave behind old paradigms to enhance their experience and adopt a continuous learning mindset. This involves becoming familiar with digital tools, e-commerce platforms and others that are essential in the modern business environment.
“Today, senior entrepreneurs can boost their businesses by leveraging the automation of routine tasks, such as invoicing. This allows them to dedicate more time to activities that really add value to their companies, something unthinkable a few years ago.” Cordero concluded.
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