Study of incentive strategies for Entrepreneurship: the case of the Autonomous Region of Madeira (Portugal)

Abstract : The aim of this study is to examine strategies to promote entrepreneurship, seeking to understand how individual characteristics influence the decision to undertake and whether fair access to opportunities is being guaranteed. The chosen methodological approach is quantitative in nature, using primary data collection through an online survey. The relevance of this research lies in the possibility of offering a diagnosis of the actions already implemented, as well as identifying new strategies to stimulate entrepreneurship. In general, it is understood that the Autonomous Region of Madeira (R.A.M.) has made a positive contribution to encouraging entrepreneurial activity, helping to reduce inequalities. This can be seen through initiatives such as support networks with mentors and entrepreneurs, and the creation of incubators, which have had a beneficial impact on the local ecosystem. However, there are still some challenges to overcome. Regarding management and entrepreneurship training programs, there was no positive relationship, which may be due to their current wide scope. The non-validation of the hypotheses relating to level of education and initial economic status suggests a reduction in these disparities because of greater access to training, information and funding. Factors such as creativity, motivation and willingness to take risks proved to be influential and should be considered. About age and gender, it is advisable to implement more targeted policies. The conclusions obtained have relevant implications for public policies in the R.A.M., pointing to the importance of strengthening support networks, facilitating access to existing measures, as well as improving and developing more effective and inclusive programs, adapted to the profile of local entrepreneurs.