What to avoid to succeed as an entrepreneur

Entrepreneurship is a driver of economic growth and development. This study highlights the importance of entrepreneurship in emerging countries and examines entrepreneurs' characteristics in these countries. In particular, the study explains what entrepreneurs should avoid to succeed in Latin America. An empirical study analyzes factors that relate to businesses and entrepreneurs in El Salvador, one of the Latin American countries with the lowest rates of business success. In the study, business factors consist of the use of formal and informal advisory services and the degree of innovation. Variables that relate to the entrepreneur are educational attainment and the demographic variables sex and age. Results from analysis of 2012 GEM data using csQCA methodology show that degree of innovation, professional advisory services, and educational attainment play key roles in business success.