Entry 2
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Mr Leao said he had not known the cows had been pregnant and had realised he and his fellow ranchers had lacked reliable information about their herds. In response, he founded BovControl, a technology start-up that provides ranchers with detailed online data about the 200 million head of cattle on Brazil's vast plains, and 40 billion animals worldwide. The idea has generated interest among ranchers, slaughterhouses, commodity traders and retailers, not only in Brazil but in the United States and South Africa. In Chile, the country's billionaire President, Sebastian Pinera, declared 2012 "the year of entrepreneurship" and 2013 "the year of innovation". His government has overseen the launch of Start-Up Chile, a programme that offers entrepreneurs from around the world $40,000 (£24,000) and a one-year work visa simply to come to Chile to develop their ideas. The idea is that the entrepreneurial spirit will rub off on Chileans. Vivek Wadhwa, a US-based technology entrepreneur who advised the Chilean government on Start-up Chile, says: "I came here a few years ago to look at the cluster development efforts of the Chilean government, and I told them they were destined to fail. "'Braindead' was the word I used." "Chile was wasting hundreds of millions of dollars on trying to create top-down industries. I said, 'What you need is entrepreneurship.' "Chile needs to think of itself like other small population countries like Norway, Israel and Singapore." Start-Up Chile is now in its fourth year and has provided funding for about 1,500 entrepreneurs, both Chilean and foreign. It has inspired similar schemes in Brazil, Peru and elsewhere in the world. "The culture has changed," says Mr Wadhwa.
The Chilean government has taken other measures to help by, for example, cutting red tape. Carlos Honorato says a growing number of small firms are now being set up in Chile. In 2010, it took an average of 27 days to set up a business in Chile. The government cut it to seven days and then to a single day, following the lead of New Zealand. Carlos Honorato, director of ProChile, a state body charged with promoting Chile abroad, says the move to one day has "transformed the number of new companies being created" in the country. Chile recently hosted LAB 4+, a summit of entrepreneurs and government agencies from Chile, Colombia, Mexico and Peru. The four countries vowed to raise their spending on research and development to 1% of GDP by 2015. However, there are still huge challenges. Compared with Asia and Africa, relatively few people in Latin America speak English - the de facto language of entrepreneurship. And many of the region's governments are under pressure to spend money on primary healthcare and education rather than ploughing it in to schemes to promote technology and innovation. But the signs are bright."Across the region, the culture is changing dramatically," says Mr Soto.
http://www.bbc.co.uk/news/business-25650181epreneurship.'
Latin America is known world wide for lacking innovators and inventors. However, due to the increase in unemployment, entrepreneurs are starting to emerge in order to earn money for survival. Despite the minimal knowledge the people had of business, they were able to get help from platforms such as cinepapaya.com, a website that encouraged and helped emerging entrepreneurs with finances. The government as well, supported its people by increasing the spending value on research and development.
Relative to chapter 8, which is based on entrepreneurs and franchises the article talks about the increase in entrepreneurs in Latin America. Individuals in Latin America began their own businesses, as a sole proprietor in order to make profit due to the high unemployment rate. Due to the limited amount of entrepreneurs, the government encourages the new innovators and inventors to open up their own franchises. Despite the many public enterprises it’s much better for the economy for entrepreneurs to em emerge.
Economic Relation
SUMMARY
For more news on this article go to BBC.CO.UK