Determinantes de la rentabilidad de las Pymes ecuatorianas: sector F421, periodo 2023

Abstract

Abstract: In Ecuador, SMEs play a crucial role in the economy, representing 93.67% of active companies in 2023 and estimated to contribute 50% of GDP. However, they face significant barriers such as limited access to financing, strategic planning, and technology adoption, which impact their profitability and sustainability. This research aims to analyze the determinants of profitability, the characterization of SMEs, and the relationship between the independent study variables: liquidity, debt, size, age, and the dependent variables: ROA and ROE. A quantitative approach was used, combined with descriptive data analysis using multiple regression. The data analyzed were adapted from the SUPERCIAS (Supermarkets and Statistics), with a total of 397 companies from the F421 sector. A company filtering was applied for the regression analysis, classified within small and medium-sized enterprises (SMEs), with a total of 230. The results indicate that profitability is not directly influenced by the level of debt or liquidity. Therefore, it is suggested that SMEs strengthen their financial position by reducing non-profitable debt, promoting innovation, and improving the use of their resources. This will allow SMEs to better adapt to a competitive environment and access more stable and sustainable long-term financin.