Entrepreneurship in Nicaragua
Being an entrepreneur can be a scary task, especially when you don't have the right resources or guidance to start your business. That's what many locals in Chinandega, Nicaragua face everyday. Just like us, they dream of building a successful business, with unlimited revenue potential. Unfortunately, for many it remains just that - a dream.
Through Centennial College's Global Citizenship & Equity Learning Experience (GCELE) program and Waves of Hope - a not-for-profit organization dedicated to developing local communities within Nicaragua - I got a chance to work directly with local entrepreneurs and high school students to help turn their business dreams into reality. For 2 weeks, the GCELE team (comprised of 12 students and 3 faculty) partnered with local translators and community members to build a marketplace to host 6 new businesses. Needless to say, this experience is one I will never forget.
Here are 3 things I learned about entrepreneurship in Nicaragua:
Profits aren’t the only objective
Sure, we’d all like to make millions of dollars (who wouldn’t?), but it’s clear that most successful organizations have a deeper goal than just profits. The same holds true for Nicaraguans. When asked what success for their business looks like, one entrepreneur said, “being able to provide for the community”, while another said, “paving the way for our future children.” These types of selfless responses spoke volumes about their beliefs and core values - caring, family-oriented and community-first. After our first few days of assessment, our GCELE team quickly realized that a traditional North American business workshop approach was not the way to go. We needed to learn about their culture and understand what drives them. They wanted to make money, but they wanted to do it as a community in a sustainable manner.
Their natural ecosystem is their biggest asset
One of the biggest differences in cultural thinking between North America and Nicaragua is that, in North America, we would rather tear something down completely and rebuild it perfectly from scratch, than to work with what we already have. In Nicaragua, they are the opposite. They have adapted to their ecosystems so well that they don’t require much technology to complete day-to-day tasks - they simply use the natural resources available to them. From laundry to health and fitness maintenance, Nicaraguans have developed a sustainable cycle that preserves the existing ecosystem, while accomplishing their goals. Why tear down trees to build a barn when you can utilize them and save on resources/costs? This was one of the biggest learning points I took away from their cultural thinking.
They have their own business culture
This was something we expected going in. We knew that besides a language barrier, we would need to make adjustments to establish working business relationships with them. One thing that stood out to me was the trust-building phase. While the locals were friendly and welcomed us with open arms, there was some initial hesitation with trust, especially regarding confidential business information. This was not surprising and we did everything we could to remind them we were here to help. It took a few days of working together before most of the entrepreneurs felt completely comfortable with us. To them, they needed time to get to know us and our intentions before they could trust us - friendship is part of their business relationship.
This GCELE experience has been an eye-opener to say the least. As much as we taught the Nicaraguan community about business and professional skills, they in turn taught us about the importance of utilizing our existing ecosystem and a simpler way of life. In a blink of an eye, two weeks came and went. However, the relationships we built and memories we exchanged as a community will last forever. I sincerely hope to be able to join another GCELE experience in the near future.








