Although the notion that entrepreneurship benefits society has attained broad currency in Latin America and elsewhere, confusion reigns: Latin America’s leaders variously promote entrepreneurship as “self-employment”, and regularly talk of “start-ups”, “disruptive business”, “small businesses” and “micro-enterprises”. No wonder a recent World Bank article on Latin America bemoans that “entrepreneurs’ lack of innovation curbs creation of quality jobs”. Even respected institutions like the World Bank confuse small business, innovation and growth.
