A study by Alegra.com reveals that Panama is the second country in Latin America with the highest percentage of adult entrepreneurs, specifically in the range of 35 to 54 years, exceeding the regional average by 2.21%.

The study “Latin America undertakes: Analysis of SMEs in the region” highlights the importance of SMEs in Panama, which represent 97% of companies, contribute to 17% of GDP and generate about 57% of national employment, according to the IDB.

The analysis is based on data from more than 700,000 entrepreneurs, shows that 38.4% of entrepreneurs in Panama are between 35 and 54 years old. Mexico and Costa Rica continue with 36.3% and 36.2%, respectively.

Estherlyn Soto, Strategic Leader of Alegra.com in Panama, highlights the importance of improving access to financing, technology and continuous training so that entrepreneurs maintain their competitiveness and adaptability to new emerging technologies.

The study also highlights that 12.5% of entrepreneurs in Panama are over 65 years of age, exceeding the regional average by 2.4%. As for female leadership, 65.9% of enterprises in Panama are led by women, 2.93% above the regional average.

Finally, microenterprises dominate in Panama with a representativeness of 79.6%. Soto emphasizes the need to adopt technological tools and promote a culture of innovation to improve the competitiveness and expansion of these microenterprises, promoting a more inclusive and sustainable economic development.