Establishing a Business in Guatemala

John E. Spillan () and Marleen Campbell Lopez ()
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John E. Spillan: University of North Carolina at Pembroke
Marleen Campbell Lopez: Universidad del Istmo

Chapter 5 in Doing Business in Guatemala, 2021, pp 99-133 from Springer

Abstract: Abstract Economic development is at the core of business development and economic prosperity. Business development accrues when entrepreneurs and innovators take ideas and build businesses from these ideas. Each country has different approaches to economic growth, which are based upon a country’s political, social, economic and technological infrastructure. Entrepreneurship has become a significant alternative in Guatemala. Most of the business and economic transactions in Guatemala take place in seven major locations—Guatemala City, Quetzaltenango, Puerto Barrios, Huehuetenango, Totonicapán, Escuintla and Antigua. These cities are very commercial with both brick-and-mortar retail stores and substantial informal markets. The cities have large populations and the best consumer purchasing power in the country, and the geographic areas represent the best locations to establish a business or expand an already established business. Different types of business ventures can thrive in these localities. Franchising, licensing and microbusiness development are popular approaches to business development.

Keywords: Business development; Financing; Licensing; Microfinancing; Distribution; Supply chain (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-64304-1_5

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DOI: 10.1007/978-3-030-64304-1_5

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