Research conducted in Ecuador reveals that while 27% of entrepreneurs surveyed identified lack of liquidity as their main challenge, another 23% highlighted low sales as a significant obstacle, and 19% pointed to insecurity. These challenges vary markedly between regions such as Pichincha, Guayas, Manabí and Azuay, which complicates the standardization of methods for measuring the social impact of ventures. Through qualitative interviews and quantitative analysis of INEC data, it was observed that less than 40% of entrepreneurs in Pichincha are trained in impact assessment techniques, which contrasts with the need for training and tools adapted to local contexts. This lack of preparation underlines the urgency of developing customized methodologies that allow entrepreneurs and policy makers to better understand and support the sustainable growth of entrepreneurship in each province. The need for adaptation and customization of measurement tools is evident, particularly in provinces where economic and cultural characteristics vary significantly, e.g. in Azuay, where the artisanal sector is preponderant, it would be beneficial to implement measurement systems that consider cultural and community impacts in addition to economic ones, and collaboration between academia, government and non-governmental organizations can provide vital support in the creation of these methodologies, ensuring that they are robust and relevant. By fostering a stronger environment for social impact measurement, supportive policies could be improved, thus contributing to more equitable economic and social development in Ecuador. This study suggests a clear path towards creating a more effective framework for assessing and maximizing the social impact of ventures, opening up opportunities for future research that delves deeper into the interaction between public policies and entrepreneurial practices in different regional settings.
