Unveiling Resilience: Strategic Responses, Success Factors, and Challenges Faced by Latin American Female Entrepreneurs Amid the COVID-19 Pandemic

This research aims to identify critical success factors and challenges faced by nontechnical female entrepreneurs during the COVID-19 pandemic. Additionally, it aims to explore the strategic financial, marketing, and safety responses taken by these entrepreneurs to sustain their businesses. Data are collected through interviews and surveys from 106 female entrepreneurs in Peru and 100 female entrepreneurs in Ecuador. Key findings reveal the importance of physical and mental health, as well as excellent customer service, for the success of nontechnology-based businesses. Both countries express concerns about the risk of infecting family members. Resilience strategies include cost reduction and issuing bonds. Our research contributes to the understanding of nontech female entrepreneurs and their businesses in Peru and Ecuador during the ongoing COVID-19 crisis. It highlights important factors for success and survival and addresses the significant challenges faced, as well as the strategic responses employed by these entrepreneurs within the Latin American context.