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Entrepreneurship development: The case of Ghana | 51031
International Research Journals

Journal of Research in International Business and Management

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Entrepreneurship development: The case of Ghana

Abstract

Michael Yeboah

The study assessed the entrepreneurial performance of Ghana with the aim of developing policy recommendations to enhance its development for sustained growth in Ghana. The study used GEDI 2017 tool containing data for 2011-2015 for 93 countries. However, Ghana had data for 2012 and 2013. To appreciate the entrepreneurial performance of Ghana, the study selected two sister countries, Nigeria and Burkina Faso to which comparison was done. The cost of doing business in Ghana is high, and the economy is predominantly composed of Small and Medium Scale Enterprises. The study found that entrepreneurship and development in Ghana are strongly correlated, making entrepreneurship a key ingredient in Ghana’s socio-economic development drive. However, entrepreneurship is faced with bottlenecks. Key priorities for entrepreneurship development in Ghana were found to include product innovation and human capital as top priorities; risk capital, internationalization, and technology absorption as medium priorities and process innovation as a low priority. Ghana can learn from Nigeria on how to improve her human capital and from both Nigeria and Burkina Faso on how to improve her technology absorption.

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