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 Research objectives

Youth Business International (YBI) operates worldwide, through a network of not-for-profit member organisations that deliver training, mentoring, access to finance and other business support services to young entrepreneurs and aspiring entrepreneurs. This is facilitated by a Network Team based in London and Bogot√°, Colombia.

YBI commissioned Purple Market Research to conduct a research programme to explore and quantify the digital landscape for young entrepreneurs in Latin America and the Caribbean.

The primary objectives of the research were to explore the digital landscape at a global, regional and local level, to determine how entrepreneurs operate in that environment and to identify the main digital support sources available to entrepreneurs.

 Methodology

The research comprised both secondary and primary research:

  • The secondary research intelligence gathering phase combined a review of information already held by YBI and external desk research relating to the use of technology and internet access at a global and regional level and the digital support available to entrepreneurs in the Latin America and Caribbean region.
  • The primary quantitative survey comprised interviews with 853 entrepreneurs and aspiring entrepreneurs aged 18-35 to determine the awareness and usage of digital technologies and digital support platforms and the challenges faced.
In spite of the lack of maturity of the digital landscape and the lack of awareness of existing solutions, there are clear opportunities for YBI and its members to support young entrepreneurs in the region.
 Conclusions & Insights

Three main themes emerged from the research.

  • The digital landscape in Latin America and the Caribbean is growing rapidly, but is still behind the developed world.
  • Entrepreneurs in the region would benefit from a more reliable digital landscape and greater support to raise awareness and usage of digital support solutions.
  • In spite of the lack of maturity of the digital landscape and the lack of awareness of existing solutions, there are clear opportunities for YBI and its members to support young entrepreneurs in the region.

The research helped to identify the opportunities for YBI and its members to provide advice and support relating to the digital landscape to young entrepreneurs in the region.