Profits from small businesses in Brazil have skyrocketed in the past decade thanks to better education, a report by the Brazilian Institute of Geography and Statistics says.
Income from small and medium-sized businesses in the country increased by 35 per cent between 2003 and 2013, the report says. This occurred along with an increase in higher education qualifications among small business owners, the strategic affairs ministry said in a statement.
“[Higher education] has increased the quality of the projects and also the ability of entrepreneurs,” said Marcelo Neri, minister of strategic affairs. “The average years of study among small entrepreneurs rose from 6.5 years in 2000 to 7.7 in 2010,” he said.
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