ENTREPRENEUR AND ENTERPRISE CHARACTERISTICS AS CORRELATES OF SUCCESS OF CAGE FISH FARMING IN THE ASUOGYAMAN AND SOUTH DAYI DISTRICTS OF GHANA

ABSTRACT

Aquaculture is becoming a very important source of income and a source of protein in the diets of many. Over the past few years, efforts were made by individuals and groups to venture into cage fish farming on the Volta Lake in the Asuogyaman and South Dayi districts of Ghana. However, many of these farms were not sustained. This study examined the relationship between entrepreneur and enterprise characteristics and success of small scale cage fish enterprises in the two districts. The research employed a descriptive-correlation survey design which used the quantitative method. A standardised questionnaire with close and open ended questions was used to collect data from 105 owners and managers of the enterprises. Data were analysed using the Statistical Package for Social Sciences (SPSS) software. The results reveal a significant positive relationship between age of entrepreneurs and customer satisfaction, and also between experience of entrepreneurs and growth in sales. Technical know-how, attitude towards work, start-up experience and managerial skills all showed significant positive relationship with profitability and customer satisfaction. Attitude towards work and age of enterprise also had significant positive relationship with growth in sales. Apart from educational levels of entrepreneurs, all the other variables studied showed positive relationship with enterprise success. In conclusion, even though the characteristics of the entrepreneur and enterprise had positive relationship with enterprise success, not all these relationships were significant. It is recommended that cage fish farmers should be equipped with more technical and entrepreneurial skills, and also take those precautions which will help reduce the risk of failure, and increase the chances of success and survival of their enterprises.