Kelly Johanna

This essay argued corresponds to a description of the factors that have led to that informality in Colombia over the last decade covering a large percentage of the working population, this will analyze the factors involved in the processes of creation and business formalization in Colombia, the distinction between legality and legitimacy, state responsibility, political and social factors that hinder entrepreneurial activity, job stability offered employability status, risk aversion against the fear of business failure and perceptions of entrepreneurs both formal and informal. This is order to establish the benefits of formalization and disadvantages of informality.