economy
May 5, 2026
More than 5,000 hours a year: the hidden cost of procedures faced by companies and entrepreneurs in Colombia
The institutional environment increases time, costs, and risks, affecting business decisions. Photo: Image generated with Artificial Intelligence - ChatGPT
TL;DR
- The institutional environment increases time, costs, and risks for businesses.
- These factors negatively affect business decisions.
- Excessive bureaucratic procedures consume a significant amount of time.