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Success factors for micro and small agribusiness enterprises (MSES) – the case of Ghana

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

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.

Suggested Citation

  • Boakye, Alfred Asuming & Ampadu-Ameyaw, Richard & Essegbey, George Owusu & Onumah, Justina Adwoa, 2018. "Success factors for micro and small agribusiness enterprises (MSES) – the case of Ghana," Journal of Agribusiness and Rural Development, University of Life Sciences, Poznan, Poland, vol. 47(1), January.
    • Handle: RePEc:ags:pojard:355933
    DOI: 10.22004/ag.econ.355933
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    References listed on IDEAS

    as
    1. Mead, Donald C. & Liedholm, Carl, 1998. "The dynamics of micro and small enterprises in developing countries," World Development, Elsevier, vol. 26(1), pages 61-74, January.
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