Inclusive Entrepreneurship: A Way Forward to Overcome Marginalization Among Latin American Entrepreneurs

Introduction

Latin America has a rich and dynamic entrepreneurial landscape, yet significant inequalities persist in who can successfully start and grow businesses. Structural barriers—such as poverty, discrimination, exclusion, and limited institutional support—disproportionately affect marginalized groups, including women, indigenous peoples, the elderly, people with disabilities, and low-income entrepreneurs, among several others. While entrepreneurship rates in the region are high (Amorós, Ciravegna, Mandakovic, & Stenholm, 2019; Bosma & Kelly, 2019), many ventures emerge out of necessity rather than opportunity (Amorós et al. 2019; Bosma & Kelly, 2019; Puente et al., 2019), often lacking access to finance, markets, and support networks. As a result, these ventures frequently remain small, informal, or struggle to scale (internationally), raising critical concerns for scholars and policymakers (Amorós et al., 2016; Andonova et al., 2013; Eslava et al., 2023; Lederman et al., 2014).  

These inequalities reflect broader patterns of marginalization and exclusion. Entrepreneurial participation varies significantly across demographic groups, shaped by factors such as gender, ethnicity, age, disability, geographic location, and socioeconomic status (OECD/ European Commission, 2023). For example, women consistently have lower entrepreneurial activity rates than men (Terjesen & Amorós, 2010), oftentimes due to a diverse set of barriers they face (Correa et al., 2022). Similarly, geographic exclusion restricts opportunities outside major urban centers, further limiting potential entrepreneurs (e.g. Espinoza, Mardones, Saez, & Catalan, 2019; Fischer et al., 2018; Lasso et al., 2019).

Research on inclusive entrepreneurship has recently received more attention (Bakker & McMullen, 2023; Rodrigues et al., 2023). Increasingly, scholars recognize that the overt focus on high-growth startups in the academic literature, which led to the “dogma of high growth ventures” (Morris et al., 2015), does not reflect the reality of entrepreneurship. Davidsson (2005) and Morris et al. (2015) are but two examples that highlight the diversity among entrepreneurs, emphasizing that each contributes uniquely to the economy through their distinct identities (Morris et al., 2018). Consequently, Morris and colleagues (2015) advocate for a portfolio approach to entrepreneurship, recognizing that an economy cannot rely solely on high-growth startups. Even unicorns, despite their significant positive impacts, are inherently interconnected with various other entrepreneurial forms (Neumeyer et al., 2019).

Yet, despite the evident impact of marginalization and exclusion, research explicitly addressing inclusive entrepreneurship in Latin America remains scarce. This is somewhat surprising as social inequity and exclusion result from Latin America´s history and characterize the region (Halebsky & Harris, 2018). With Latin America´s unique institutional context where current theories and frameworks are often derived from economic, social, and cultural assumptions that may not fully capture the experiences in the region (Aguinis et al., 2020), this gap is problematic because it leaves the experiences and potential of marginalized entrepreneurs underexplored, limiting our understanding of how to fully realize entrepreneurship’s promise for poverty alleviation and inclusive growth. With Latin America presenting a wealth of potential for entrepreneurship (Amorós et al., 2021), understanding how those marginalized and excluded populations can be better supported is necessary.  

Special Issue Scope

Focusing on Latin America, this SI seeks to examine how context-specific factors—such as institutional voids, cultural norms, and economic volatility—shape the entrepreneurial experiences of underprivileged groups. The goal is to compile cutting-edge research that not only identifies current gaps but also offers actionable insights and solutions for fostering a more equitable entrepreneurial future in Latin America. Through this Special Issue, we seek to:

• Illuminate the structural and institutional challenges that hinder entrepreneurship for marginalized groups.
• Explore the strategies and resilience mechanisms employed by disadvantaged entrepreneurs to overcome these barriers.
• Analyze the role of financial systems, education, and public policies in fostering (or impeding) inclusive entrepreneurship.
• Examine how consumer perceptions, biases, and market dynamics influence the opportunities and growth trajectories of marginalized entrepreneurs.
• Contribute to theoretical debates by incorporating perspectives from Latin America that challenge mainstream entrepreneurship research.
• Offer practical implications for policymakers, ecosystem builders, and support organizations working toward a more inclusive entrepreneurial landscape.

We invite theoretical and empirical research that explores the unique challenges, strategies, and impacts associated with disadvantaged entrepreneurs in Latin America. We encourage submissions that offer novel theoretical contributions, empirical rigor, and actionable implications for policymakers and practitioners alike, including:

• Frameworks that adapt management and entrepreneurship theories to emerging market contexts.
• Case studies of successful inclusive business models.
• Evaluations of policy interventions aimed at fostering inclusive entrepreneurship.
• Methodological guidelines and best practices for researching marginalized entrepreneurs.
• Critical perspectives that challenge misconceptions about disadvantaged groups in Latin America.
• Context-sensitive research that embraces epistemic pluralism, alternative methods, and diverse theoretical perspectives.

We look forward to receiving submissions that contribute to this important conversation and help shape the future of inclusive entrepreneurship research in Latin America. 

List of topic areas

Contributors may address, but are not limited to, the following questions and themes:

1. Barriers and Enablers of Inclusive Entrepreneurship
   • What factors enable or constrain entrepreneurs from marginalized backgrounds in Latin America?
   • How do intersections of gender, ethnicity, socio-economic status, and location affect entrepreneurial opportunities and business growth?
   • What roles do financial systems, education, and public policy play in shaping inclusive entrepreneurship?
2. Public Policy and Institutional Support for Inclusion
   • How effective are government policies, startup subsidies, business formalization programs, and mentorship initiatives in supporting disadvantaged entrepreneurs?
   • What policy gaps exist, and what reforms could enhance inclusive entrepreneurship in Latin America?
   • How do different Latin American countries compare in their approaches to fostering inclusive entrepreneurial ecosystems?
3. Entrepreneurial Ecosystems and Inclusion
   • How can Latin American entrepreneurial ecosystems become more inclusive?
   • What roles do incubators, accelerators, universities, NGOs, and investors play in supporting marginalized entrepreneurs?
   • What strategies have proven effective in integrating rural innovators, women entrepreneurs, and other underrepresented groups into mainstream markets?
4. Business Performance and Growth of Disadvantaged Ventures
   • What factors influence the performance, sustainability, and scaling of businesses led by marginalized entrepreneurs?
   • How do necessity-driven entrepreneurs balance aspirations for growth with resource constraints?
   • What innovative strategies can improve productivity and innovation in disadvantaged enterprises?
5. Access to Finance for Inclusive Entrepreneurship
   • What financial barriers do marginalized entrepreneurs face in Latin America?
   • How effective are microfinance, venture capital, crowdfunding, and fintech solutions in expanding credit access for underrepresented founders?
   • What are lessons learned from financial inclusion initiatives targeting disadvantaged entrepreneurs?
6. Intersectional and Comparative Perspectives
   • How do different identities (e.g., Afro-Latina women, disabled youth entrepreneurs) shape entrepreneurial experiences?
   • What can we learn from comparative studies across countries or regions regarding inclusive entrepreneurship?
   • How do structural and institutional factors create unique challenges and opportunities for marginalized entrepreneurs in different parts of Latin America?
7. Consumer perspective towards inclusive entrepreneurship
   • How do consumer perceptions, biases, and preferences influence the success or failure of businesses led by marginalized entrepreneurs?
   • To what extent do consumer behaviors facilitate or inhibit market access for inclusive enterprises?
   • How can consumer education or awareness campaigns promote market acceptance and growth for products and services offered by disadvantaged entrepreneurs?
   • What is the role of ethical, responsible, or sustainable consumption trends in promoting inclusion within entrepreneurial ecosystems? 

Submission information

Submissions are made using ScholarOne Manuscripts. Registration and access are available here.

Author guidelines must be strictly followed. Please see here. 

Authors should select (from the drop-down menu) the special issue title at the appropriate step in the submission process, i.e. in response to ““Please select the issue you are submitting to”.  

Submitted articles must not have been previously published, nor should they be under consideration for publication anywhere else, while under review for this journal. 

Key deadlines

Opening date for submissions: 28/04/2025

Closing date for submissions: 31/10/2025

Guest editors

Jana Schmutzler, Universidad del Norte, Colombia, schmutzlerj@uninorte.edu.co 

Abel Diaz Gonzalez, Maastricht University, Netherlands, abel.diazgonzalez@maastrichtuniversity.nl 

Sebastian Barros, Universidad Católica de la Santísima Concepción, Chile, sbarros@ucsc.cl   

References 

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Amorós, J. E., Borraz, F., & Veiga, L. (2016). Entrepreneurship and socioeconomic indicators in Latin America. Latin American Research Review, 51(4), 186-201.

Amorós, J. E., Ciravegna, L., Mandakovic, V., & Stenholm, P. (2019). Necessity or opportunity? The effects of state fragility and economic development on entrepreneurial efforts. Entrepreneurship Theory and Practice, 43(4), 725-750.

Amorós, J. E., Leiva, J. C., Bonomo, A., & Sosa Varela, J. C. (2021). Guest editorial: the entrepreneurship challenges in Latin America. European Business Review, 33(6), 837-848.

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Morris, M. H., Neumeyer, X., Jang, Y., & Kuratko, D. F. (2018). Distinguishing types of entrepreneurial ventures: An identity‐based perspective. Journal of Small Business Management, 56(3), 453-474.

Neumeyer, X., Santos, S. C., & Morris, M. H. (2019). Who is left out: exploring social boundaries in entrepreneurial ecosystems. The Journal of Technology Transfer, 44, 462-484.

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Rodrigues, M., Silva, R., Franco, M., & Oliveira, C. (2022). Bibliometric approach to inclusive entrepreneurship: what has been written in scientific academia?. Chinese Management Studies, 17(6), 1217-1239.

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