Steering Sustainable Economic Growth: Entrepreneurial Ecosystem Approach

Abstract

The importance of entrepreneurship in steering sustained economic growth and improved well-being has been re-echoed over the past decade. Regrettably, the sub-Saharan Africa setting lags behind from the point of harnessing the economic development impact of entrepreneurship, and the obvious implication is ever increasing unemployment and poverty. Utilising a systematic review approach, this article draws from the body of knowledge to shed light on critical strategies towards achieving productive entrepreneurship. Specifically, we forward an entrepreneurial ecosystem framework that underlines the importance of institutional level and enterprise level attributes in achieving effective entrepreneurial ecosystem and maximising economic growth gains. We highlight strategic and pro-active initiatives for ensuring active and ambitious entrepreneurial orientation that will contribute to economic growth and create employment. Towards achieving these targets, we also flag critical policy guides, drawing attention to the facilitating role that governments can play in ensuring an effective and economic growth impacting entrepreneurial ecosystem. Directions for future research have been flagged.