Over the past few decades, entrepreneurship in Ghana has grown at an exponential rate. It is bringing forth disruptive changes not only to Ghana but increasingly also to the rest of the world. Many Ghanaian young entrepreneurs are gradually taking the world by surprise and deservingly gaining a reputable recognition. By 2010 the total of Ghanaian young entrepreneurs sprouted out in shocking numbers. Whether good or bad for the economy, the word entrepreneurship earned a ‘rooting’ meaning to many youth. But is that enough? The final communiqué of the 2014 G20 Leaders’ Summit called for enhanced economic growth that could be achieved by the “promotion of competition, entrepreneurship and innovation”.
There was also a call for strategies to reduce unemployment, particularly amongst youth, through the “encouragement of entrepreneurship”. This to my understanding has somewhat materialized in Ghana. But, by what measures has this improved the Ghanaian economy and the lives of these entrepreneurs? How many surviving small businesses that sprouted up in severe numbers still exist today? How many of them identified real economic situations and provided realistic solutions to them?
The questions are just endless.
In almost every corners of Ghana today, are striving entrepreneurs either by word or by action. Entrepreneurs here in this part of the world tell sourly different stories to the corporate world. It is not the case in most developed countries across the globe but certainly here, it’s a myth for small businesses to grow into ‘big corporate’ entities.
They go through the daily struggles of starting businesses and suddenly hit the realities of closing down in less than a year or less. Bravo! To the ones that survived beyond a year and still counting but without any substantial growth.
To be continued ….
Author: Harmony Attise