GHANAIAN AND KENYAN ENTREPRENEURS: A COMPARATIVE ANALYSIS OF THEIR MOTIVATIONS, SUCCESS CHARACTERISTICS AND PROBLEMS

Abstract

Three hundred and fifty-six entrepreneurs from Kenya and Ghana were surveyed to determine their motivation for business ownership, variables contributing to their business success, and the problems they encountered. Kenyan and Ghanaian entrepreneurs indicated that increasing their income and creating jobs for themselves were leading factors motivating them to become business owners. Hard work and good customer service were cited by both Kenyan and Ghanaian business owners as critical for their success. But, compared to the Kenyan entrepreneurs, Ghanaians weighed support from family and friends and external relationship building as more important. A weak economy is the most important problem preventing entrepreneurs of both countries from achieving their goals. Ghanaian entrepreneurs were more concerned about the inability to obtain capital, while Kenyan entrepreneurs were more concerned about government regulations and problems related to business location.