TITLE:
Entrepreneurship in Adentan-Dodowa Localities—Challenges
AUTHORS:
Karikari Ama Foriwaa, Irene Akuamoah-Boateng
KEYWORDS:
Entrepreneurship; SMEs
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.3 No.1,
January
22,
2013
ABSTRACT:
Entrepreneurship is more than simply “starting a business.” Entrepreneurship is a process through which individuals identify opportunities, allocate resources, and create value. This creation of value is often through the identification of unmet needs or through the identification of opportunities for change. In support of the assertion, Calvin (2003) said it is one of “today’s most potentially rewarding avenues to gaining control over life and career”. Therefore, entrepreneurs see “problems” as “opportunities,” then take action to identify the solutions to those problems. Entrepreneurial success is a function of the entrepreneur’s ability to see opportunities in the marketplace, initiate change (or take advantage of change) and creates value through solutions. They are an integral part of the renewal process that pervades and defines market economies. They are also the essential mechanism by which millions of people enter the economic and social mainstream of society. However, it is faced with a lot of challenges in Ghana, specifically Adentan-Dodowa localities. This research identified some challenges and realized that a common denominator for all entrepreneurs in that vicinity is the challenge of starting a business: be it through inventing something, looking for a new idea within a business, finding the right opportunity to break into a business or buying into a franchise. Questionnaires were used for data collection to discover the challenges of entrepreneurs.