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Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

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This study presents the first known evaluation of any stimuluspackage provi<strong>de</strong>d in the island. Though a previous study wasimplemented, it is unpublished. Moreover, this study aims not only toprovi<strong>de</strong> an accurate representation of the opinion and beliefs ofparticipants of the program but also to contribute to entrepreneurship byrecommending actions aimed at improving future programs. Even thoughthe sample is small and convenient, participating firms represent allbusiness sectors that are located island wi<strong>de</strong> and are owned by personsof different gen<strong>de</strong>r and socioeconomic backgrounds. A potential benefitarises, also, from the comparison of this stimulus program to previouslocal programs, and to programs existing in other countries, thusbroa<strong>de</strong>ning this study scope.Theoretical FoundationSection 1. Causes <strong>for</strong> the high unemployment levels in<strong>Puerto</strong> Rico, reasons <strong>for</strong> the limitation of entrepreneurialactivity and responses as to why the lack of vigoroussmall business growth exists in <strong>Puerto</strong> RicoFor the local government at any political period, employmentgeneration and business creation should overri<strong>de</strong> many other goals. As itis wi<strong>de</strong>ly agreed, there is a positive correlation between economic growthand entrepreneurship (Acs and Audretsch 2003); also, empirical studiesindicate the significant contribution of business creation <strong>for</strong> employmentand <strong>for</strong> strengthening the economy. Startups are also the result of acombination of factors including family ambience, education, risk bearingand work experience, variables which studies point out as key to privatesector growth and business creation, in the free enterprise system.Firstly, work skills and work habits required <strong>for</strong> jobs in the free enterprisesystem are often different than the work habits and skills acquired with

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