An Exploration Of Factors That Lead To Success Of Micro, Small And Medium Enterprises In Ga East Municipality
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ABSTRACT
Micro, Small and Medium Enterprises (MSMEs) have over the years developed to become
an important driver of economic growth. Ideas are transformed into opportunities which
have provided jobs for a large number of people outside formal jobs through the setting up
of small businesses. This study focuses on the Ga-East municipality.
The objectives are to identify the factors that lead to MSMEs success and also the major
challenges faced by MSMEs operators. Using an ordered probit model with primary data,
the study reveals that age and years of education of microenterprise owners as well as sound
bookkeeping practices determine business success. The study further revealed that the
major challenge faced by business owners is fuel and transportation costs.
It is recommended that government give further training to firms regarding sound
bookkeeping to further enhance their productivity. In addition, government must make
entrepreneurship education a priority so that majority of people upon completion of formal
education would have entrepreneurial skills. Also, government must work on the
transportation sector and the macro-economy as a whole to bring down transportation cost
and cost of credit.
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CDR, C (2021). An Exploration Of Factors That Lead To Success Of Micro, Small And Medium Enterprises In Ga East Municipality. Afribary.com: Retrieved April 15, 2021, from https://afribary.com/works/an-exploration-of-factors-that-lead-to-success-of-micro-small-and-medium-enterprises-in-ga-east-municipality
Coalition, CDR. "An Exploration Of Factors That Lead To Success Of Micro, Small And Medium Enterprises In Ga East Municipality" Afribary.com. Afribary.com, 05 Apr. 2021, https://afribary.com/works/an-exploration-of-factors-that-lead-to-success-of-micro-small-and-medium-enterprises-in-ga-east-municipality . Accessed 15 Apr. 2021.
Coalition, CDR. "An Exploration Of Factors That Lead To Success Of Micro, Small And Medium Enterprises In Ga East Municipality". Afribary.com, Afribary.com, 05 Apr. 2021. Web. 15 Apr. 2021. < https://afribary.com/works/an-exploration-of-factors-that-lead-to-success-of-micro-small-and-medium-enterprises-in-ga-east-municipality >.
Coalition, CDR. "An Exploration Of Factors That Lead To Success Of Micro, Small And Medium Enterprises In Ga East Municipality" Afribary.com (2021). Accessed April 15, 2021. https://afribary.com/works/an-exploration-of-factors-that-lead-to-success-of-micro-small-and-medium-enterprises-in-ga-east-municipality