Work “English homework”

(Pandemic and entrepreneurship; what is your relationship?)

Patricia Aristizabal Aristizabal

Universidad Católica del Norte

Subject: entrepreneurship

Teacher: Diana Cuadros

Date: 19/02/2021
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The Covid-19 pandemic in addition to being an unprecedented humanitarian tragedy

has also affected the global economy, reason why entrepreneurs have had the opportunity to

develop their activity for the closure of many companies.

According to (Bañón, 2020) Entrepreneurship is relevant because it serves as a

mechanism that helps process economic crises, by reallocating resources in such a way that

they promise new activities that supersede those that are obsolete. The current world demands

that the economy undergo a change due to the crisis but also to the phenomenon of

automation, where every day we are in the uncertainty of the replacement of human labor, so

the self-employment that arises from entrepreneurship is the way to face industry 4.0 and 5.0.

In the same sense, one of the challenges for entrepreneurs before the Covid-19 crisis

was precisely digitization, however, the distancing that the pandemic has imposed led to all

business creators having to adapt to sales, marketing, portfolio recovery, electronically, so

enhancing these skills is essential for the sustainability of the organization.

The pandemic has brought great consequences to the economy, it has also allowed

many ventures, mostly led by young people, arise or re-establish their structure to through

creativity, innovation and information technology tools based on Internet. (Reina-Pinargote,

2020) It’s clear that entrepreneurship in the time of Covid-19, where the global economy is

going through a recession that many experts point out is similar to the great depression of 29

or the subprime crisis, in addition to being sufficiently useful and innovative, the entrepreneur

must to have a profile of confidence, teamwork, and technical skills must also function at the

forefront of connectivity in all respects, if you want long-term success.

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Bibliography

Bañón, C. N. (2020). Entrepreneurship in times of crisis: An exploratory analysis of the COVID-

19's effects. Small Business International Review., 53-66.
Reina-Pinargote, V. R.-A. (2020). New ventures: An analysis of their types and postcovid-19
positioning. Revista científica FIPCAEP (fomento de la investigación y publicación en
ciencias administrativas, económicas contables), 91-113.