Entrepreneurial Panama

Panama is the Central American leader when it comes to entrepreneurial attitude, according to a recent study by Global Entrepreneurship Monitor.

Barely a quarter of Panamanians who participated in the study said they fear failing in a new business.

In each of Mexico and Colombia, the figure was closer to a third, while in Brazil it was nearly 40%.

One in five adult Panamanians is an entrepreneur, while the rate of new business ownership is 5 percent.

Colombia is the Latin American leader in the latter category, with 10 percent.

In Central America, the rate of new business ownership is highest in Guatemala, at 5 percent.

Entrepreneurship in Panama is fostered by an easy and inexpensive process of starting a business, according to the study.

At the same time, Panama needs to do more to encourage young people to innovate.