Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)

Research Article: 2021 Vol: 24 Issue: 6S

Financing Within the Framework of the Competitiveness of Colombian Microenterprises

Dueñas Peña, Universidad Colegio Mayor de Cundinamarca

Ivan Fernando, Universidad Colegio Mayor de Cundinamarca

Palacios Rozo, Universidad Colegio Mayor de Cundinamarca

Jairo Jamith, Universidad Colegio Mayor de Cundinamarca

Simanca H, Universidad Libre

Fredys A, Universidad Libre

Barbosa Guerrero, Universidad Colegio Mayor de Cundinamarca

Lugo Manuel, Universidad Colegio Mayor de Cundinamarca

Amaya Cocunubo, Universidad Colegio Mayor de Cundinamarca

Ivan Fernando, Universidad Colegio Mayor de Cundinamarca


 Microenterprises in Colombia, an important source of employment generation, are constantly seeking financing for their productivity, working with different types of credit to guarantee their sustainability in the market. This research seeks the relationship between financing and the competitiveness of microenterprises, taking as elements the perception of micro entrepreneurs regarding production, inventories or raw materials that guarantee their sustainability. A review of specialized literature, a documentary and correlational study of a population of 300 microenterprises in the city of Bogota-Colombia was carried out based on a sample for finite populations with a margin of error of five (5%), an analysis was carried out with the support of the SPSS statistical package. It was found that 39.3%, 31% and 29.7% of the micro entrepreneurs are in the economic sectors of commerce, production and services, respectively, and 76% are economically dependent on their business unit. They are also people over 41 years of age. The types of financing are diverse, such as suppliers, microcredit, friends and relatives who have been an important support in their productive processes, allowing them to guarantee the generation of their own sources of employment, sometimes even those of other people.


Microenterprise, Financing, Competitiveness, Productivity


Microenterprises in Colombia are understood as productive units that can reach a maximum of 10 workers with total assets not exceeding 501 minimum legal salaries in force -SMMLV. The present research has as its object of study those business units that in their majority do not exceed 8 workers and can barely approach that turnover reported by law 590 of 2000. Credit is conceived in a dual nature one part resources received by a person or entity to solve situations or needs of personal consumption or provisioning to ensure sustainability or growth of production in a productive unit, as a second nature is considered as the opportunity for a person or entity to put a resource thinking to capitalize from a price or interest rate (Dueñas, 2019).

Regarding the dual nature of credit, (Bondone, 2012) refers that this is a dynamic exchange between agents "who by necessity seek the possibility of improving or obtaining benefits, for example, financial entities seek to benefit through interest and companies benefit from the credit that when materialized will be converted into money" (p. 17).

Thus, the risk factor is studied by the suppliers of financial resources, especially credit, to determine whether to lend or not, or whether the interest rate is accurate (Volle, 1995). Although risk is a variable that can be taken into account and managed for the price of money when credit is concerned, there is also another variable that is difficult to manage because it is not within reach and is exogenous, such as the government with its monetary policies, which in its decision making based on general impacts on society ignore the particular benefits (Banco de la República, 2014).

Table 1, as well as other financing alternatives, has allowed families and business units from different production sectors to develop and fulfill their purposes, all of this from direct consumption, training in different modalities, working capital, productive enterprises, among others (Ocampo, 1999).

Table 1
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