Entrepreneurial activity in Bolivia is one of the highest among South American countries (Peru Retail, 2019), however this news is also overshadowed by the number of failures in the same year of new ventures, which reaches 50%, only in Cochabamba, in 2017, of 3407 enterprises registered with Fundempresa, 1,798 were closed, due to three causes; lack of advice, high social burden and little support (Opinion, 2018). This is a worrying situation because failure implies economic losses to entrepreneurs who risked their capital on an idea to achieve economic income. And although the causes of the closure of ventures seem logical, it is necessary to specify the factors that make a venture fail or succeed.
With over 200 years of studying entrepreneurship, many definitions of the word "entrepreneur" have been provided. Schumpeter's economics-based concept that an entrepreneur creates value by carrying out new combinations that cause discontinuity is embedded in many of the definitions offered over the past 75 years. The work of Bull (1993) provides a tentative theory of entrepreneurship, extracted from anecdotal observations and existing literature up to that time, hoping to better forecast the phenomenon of entrepreneurship, and is based on the assumption that a person will carry out a new combination, causing discontinuity, under conditions of:
- Task-related motivation
- Expectation of personal gain
- A supportive environment.
The identification and conceptualization of the key competencies of entrepreneurship and its survival is necessary to specify which are the factors of both success and failure of the undertakings. To do this we must review the attitudes of the entrepreneur to identify the profile of the entrepreneur and the factors that determine the survival or failure of the venture.
For the execution of the research, owners / owners, related to the management of companies or establishments in the department of Cochabamba, are selected as the target population in the information gathering process. The purpose of the research is to identify the set of factors that act as promoters or inhibitors of entrepreneurship, specifically in the department of Cochabamba.