At present, national and Bogota District development plans consider that it is fundamental to develop actions for the creation of new companies and enterprises as a strategy to create new jobs, competitiveness, and innovation.
From a corporate perspective, the Bogota Region has the most important business fabric in the country. In 2020, 74,994 new companies were created in the capital, according to figures of the Chamber of Commerce of Bogotá. This is 27% of the total country figure.
Every year an average of 67,000 companies are created and close to 283,000 renew their mercantile registration (the average for the last 10 years). In addition, the amount of training, dissemination of knowledge, and assistance to startup owners that flows from the public and private sector has been strengthening the entrepreneurship ecosystem. For the above two reasons, Bogota tends to consolidate as the most important entrepreneurship center of the country and one of the most dynamic hubs in the Latin American context.
Dynamics of company creation in Bogota (January 2014 – December 2020)
Source and copyright: Office of the Dir. of Knowledge Management and Transformation, based on the mercantile register of the Chamber of Commerce of Bogotá, 2021.
These numbers are also a reflection of the city’s business environment, where the foreign investment in companies has increased by 200% between 2002 and 2018.
In Bogota, there are more than 300 Forbes 2,000 companies, and 95% of the most important multi-Latin companies. Besides, there are about 1,500 foreign companies that have placed their parent companies in the capital.
Likewise, institutions in Bogota are quite strong, which strengthens the capital’s position as the main agent in the dynamics of economic activity in the country. The city is the operating center for all business sectors associations and the place where the central offices of government agencies are, which allows for the carrying out of legal, tax, and corporate paperwork, among others.