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Zeszyt 1 (47) 2018 , DOI: 10.17306/J.JARD.2018.00406

Alfred Asuming Boakye, Richard Ampadu-Ameyaw, George Owusu Essegbey, Justina Adwoa Onumah

SUCCESS FACTORS FOR MICRO AND SMALL AGRIBUSINESS ENTERPRISES (MSES) – THE CASE OF GHANA

Abstract:

Micro and Small Enterprises (MSEs) are considered
to be engines of economic growth worldwide. Their efficiency
and competitiveness is critical to the creation of employment,
income generation and poverty reduction and thereby to general
growth of the economy. However, studies on MSEs in
Ghana have mainly focused on the financial performance with
little or no attention paid to the contribution of environmental
and socio-demographic factors to entrepreneurial success.
The data for this study was obtained from Micro and Small
Enterprises (MSEs) in some twenty districts across Ghana.
A total of 2899 entrepreneurs were interviewed. A binary logit
regression was used in determining the impact of socio-demographic
and environmental factors on entrepreneurial business
success. As shown by the results, the odds of business success
increase by 67% if the formal education period is extended
by one year. Supportive environmental factors also significantly
contribute to business success. This study recommends
a policy that will help improving access to market for MSEs.
Policy makers should consider strengthening the potential of
institutional support in terms of market information delivered
by public institutions to enhance the business success of agribusiness
entrepreneurs in Ghana.Micro and Small Enterprises (MSEs) are considered
to be engines of economic growth worldwide. Their efficiency
and competitiveness is critical to the creation of employment,
income generation and poverty reduction and thereby to general
growth of the economy. However, studies on MSEs in
Ghana have mainly focused on the financial performance with
little or no attention paid to the contribution of environmental
and socio-demographic factors to entrepreneurial success.
The data for this study was obtained from Micro and Small
Enterprises (MSEs) in some twenty districts across Ghana.
A total of 2899 entrepreneurs were interviewed. A binary logit
regression was used in determining the impact of socio-demographic
and environmental factors on entrepreneurial business
success. As shown by the results, the odds of business success
increase by 67% if the formal education period is extended
by one year. Supportive environmental factors also significantly
contribute to business success. This study recommends
a policy that will help improving access to market for MSEs.
Policy makers should consider strengthening the potential of
institutional support in terms of market information delivered
by public institutions to enhance the business success of agribusiness
entrepreneurs in Ghana.

Keywords: entrepreneurship; business success; Micro and Small Enterprises (MSEs)

PDF in in english Full text available in english in Adobe Acrobat format:
www.jard.edu.pl/vol47/issue1/art_1.pdf
http://dx.doi.org/10.17306/J.JARD.2018.00406
For citation:

MLA Boakye, Alfred Asuming, et al. "SUCCESS FACTORS FOR MICRO AND SMALL AGRIBUSINESS ENTERPRISES (MSES) – THE CASE OF GHANA." J. Agribus. Rural Dev. 47.1 (2018): 5-12.
APA Alfred Asuming Boakye, Richard Ampadu-Ameyaw, George Owusu Essegbey, Justina Adwoa Onumah (2018). SUCCESS FACTORS FOR MICRO AND SMALL AGRIBUSINESS ENTERPRISES (MSES) – THE CASE OF GHANA. J. Agribus. Rural Dev. 47 (1), 5-12
ISO 690 BOAKYE, Alfred Asuming, et al. SUCCESS FACTORS FOR MICRO AND SMALL AGRIBUSINESS ENTERPRISES (MSES) – THE CASE OF GHANA. J. Agribus. Rural Dev., 2018, 47.1: 5-12.
Corresponding address:
MPhil Alfred Asuming Boakye, Forest and Horticultural Crops Research, School of Agriculture, College of Basic and Applied Sciences, University of Ghana, Ghana,
Authors email:
aasumingboakye@ug.edu.gh

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