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Establishing a Business in Guatemala

In: Doing Business in Guatemala

Author

Listed:
  • John E. Spillan

    (University of North Carolina at Pembroke)

  • Marleen Campbell Lopez

    (Universidad del Istmo)

Abstract

Economic development is at the core of business development and economic prosperity. Business development accrues when entrepreneurs and innovators take ideas and build businesses from these ideas. Each country has different approaches to economic growth, which are based upon a country’s political, social, economic and technological infrastructure. Entrepreneurship has become a significant alternative in Guatemala. Most of the business and economic transactions in Guatemala take place in seven major locations—Guatemala City, Quetzaltenango, Puerto Barrios, Huehuetenango, Totonicapán, Escuintla and Antigua. These cities are very commercial with both brick-and-mortar retail stores and substantial informal markets. The cities have large populations and the best consumer purchasing power in the country, and the geographic areas represent the best locations to establish a business or expand an already established business. Different types of business ventures can thrive in these localities. Franchising, licensing and microbusiness development are popular approaches to business development.

Suggested Citation

  • John E. Spillan & Marleen Campbell Lopez, 2021. "Establishing a Business in Guatemala," Springer Books, in: Doing Business in Guatemala, chapter 5, pages 99-133, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-64304-1_5
    DOI: 10.1007/978-3-030-64304-1_5
    as

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