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The Household Enterprise Sector in Ghana: Overview and Challenges

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Listed:
  • Danny Turkson
  • Emmanuel A. Codjoe

Abstract

Household Enterprises (HEs) have not received much consideration in the enterprise literature even though they are crucial for the development of an economy. These enterprises have been the main source of livelihood for most families in the informal sector and their contribution to reduction in unemployment is pivotal to growth of developing economies. This paper explores the nature of HE sector in Ghana and the challenges they face in their daily operations. The study employed an informal enterprise survey of 729 household enterprises conducted in 2013 by the World Bank in Ghana. With the use of systematic review and descriptive analysis, the study outlined financial constraint as the main challenge faced by HEs and discussed the linkage between HEs and the financial sector in Ghana. Based on these findings recommendations were made to the major stakeholders in the sector (entrepreneurs, financial institutions and government).

Suggested Citation

  • Danny Turkson & Emmanuel A. Codjoe, 2021. "The Household Enterprise Sector in Ghana: Overview and Challenges," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(8), pages 140-140, July.
    • Handle: RePEc:ibn:ijbmjn:v:15:y:2021:i:8:p:140
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    References listed on IDEAS

    as
    1. Stephanou, Constantinos & Rodriguez, Camila, 2008. "Bank financing to small and medium-sized enterprises (SMEs) in Colombia," Policy Research Working Paper Series 4481, The World Bank.
    2. Aryeetey, E., 1992. "The Relationship Between the Formal and Informal Sectors of the Financial Market in Ghana," Papers 10, African Economic Research Consortium.
    3. Fields, Gary S., 2012. "Working Hard, Working Poor: A Global Journey," OUP Catalogue, Oxford University Press, number 9780199794645, Decembrie.
    4. Barrett, C. B. & Reardon, T. & Webb, P., 2001. "Nonfarm income diversification and household livelihood strategies in rural Africa: concepts, dynamics, and policy implications," Food Policy, Elsevier, vol. 26(4), pages 315-331, August.
    5. Samphantharak, Krislert & Townsend, Robert M., 2012. "Measuring the return on household enterprise: What matters most for whom?," Journal of Development Economics, Elsevier, vol. 98(1), pages 58-70.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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