A STUDY ON THE IMPACT OF THE GHANAIAN EDUCATIONAL SYSTEM ON THE ECONOMIC SUSTAINABILITY OF ENTREPRENEURIAL VENTURES IN GHANA
DOI:
https://doi.org/10.70301/Keywords:
Entrepreneurship, Economic sustainability,education, sustainability, business growth, enterprise sustainability, business startAbstract
In Ghana, Entrepreneurship is a crucial pathway to employment and income generation, yet many ventures struggle with economic sustainability, often failing within the first few years. This research explores the impact of education on the economic sustainability of entrepreneurial ventures. It examines whether the level and type of education influence business success, using data from Ghanaian entrepreneurs. A one-way ANOVA test revealed significant differences in economic sustainability based on education level (F-statistics = 2.77, p-value = 0.0082). A Multiple Linear regression analysis on the the variable “type of education” indicates that technical skills, business leadership, financial management, and problem-solving skills as key determinants of economic sustainability. The control variables establish that the location of a business significantly impacts its sustainability (F-statistic = 11.82, p-value = 0.0000), while the age of the business does not show a significant effect (F-statistic = 2.28, p-value = 0.0606). These findings underscore the multifaceted nature of the economic sustainability of entrepreneurial ventures in Ghana. Furthermore, a case study points to other factors outside the level of education that may support economic sustainability, suggesting that while education provides essential skills and knowledge, many entrepreneurs acquire this knowledge through on-the-job experience. Overall, the study validates the need for tailored policies and interventions to support Entrepreneurship across diverse educational backgrounds and geographical contexts in Ghana
References
Abdullah, S. (2020). Entrepreneurship Education in Technical Vocational Education And
Training (Tvet) And Models Of Implementation. Commerce Department, Politeknik
Ungku Omar, Ipoh, Malaysia
Adeel, S., Botelho, A., & Daniel, D. A. (2023). The effect of Entrepreneurship education on
the determinants of entrepreneurial behavior among higher education students: A multigroup
analysis. Journal of innovation and knowledge.
Akoto, D. (2022). Assessing Business Failures in Ghana; Case Study of Selected Businesses.
Akpamah, P. (2023). Assessing SMEs leadership styles impact on business development and
job creation: Evidence from Ghana.
Atanga, J. (2019). Sustainable Business Growth: An Exploration of Ghanaian Small. Walden
Dissertations and Doctoral Studies.
Baah-Boateng, W. (2013). Determinants of Unemployment in Ghana. African Development
Review.
Bawakyillenuo, S., & Sefa-Komla-Agbe, I. (2021). Environmental Consciousness of
Entrepreneurs in Ghana: How do Entrepreneur Types, Demographic Characterestics
and Product Competetiveness Count? Institute of Statistical, Social and Economic
Research (ISSER).
Dadzie, C., Fumey, M., & Suleiman. (2020). Youth Employment Programs in Ghana Options
for Effective Policy Making and Implementation.
Ghana Statistical Service. (2022, February). Today in History: Economy remains largely
informal – GSS report confirms. GhanaWeb.
Padi, A. (2022). Title: Effects of skill acquisition on entrepreneurship development: General
systematic review and progress in Ghana.
© Copyright 2022 by SBS Swiss Business School – University of Applied Sciences Institute. All Rights Reserved.
Ukoha, B. (2024). A closer look at Entrepreneurship education and Economic growth in Ghana.
African Leadership.
United Nations. (2020). Resolution adopted by the General Assembly in December 2020.
United Nations. (2022). Entrepreneurship for Sustainable Development; Report of the
Secretary General.
United Nations. (2023). The Sustainable Development Goals Report 2023. United Nations.
Additional Files
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Publication Agreement
This Publication Agreement ("Agreement") is made between the author(s) ("Author") and the SBS Journal of Applied Business Research ("Journal"). By submitting a manuscript for publication, the Author agrees to the following terms:
1. Grant of License
The Author retains full copyright ownership of the submitted and published work. The Author grants the Journal a non-exclusive license to publish, distribute, and archive the article in any format or medium, including but not limited to online and print versions.
2. Open Access and Licensing
All articles published in the Journal are fully open access under the Creative Commons Attribution 4.0 International License (CC BY 4.0). This means that:
• The work can be freely used, shared, and adapted by anyone, provided that proper attribution is given to the original Author.
• The full license terms can be found at https://creativecommons.org/licenses/by/4.0/.
• No additional restrictions are placed on the use of published articles.
3. Author Responsibilities and Warranties
The Author guarantees that:
• The submitted work is original and has not been published or submitted for publication elsewhere.
• The work does not infringe on any third-party rights, including copyright, trademark, or proprietary rights.
• All necessary permissions for copyrighted materials used in the manuscript (e.g., figures, tables) have been obtained.
• The manuscript complies with ethical research standards and does not contain any form of plagiarism or falsified data.
4. Editorial and Publication Process
• The Journal reserves the right to perform editorial revisions for clarity, formatting, and consistency while maintaining the integrity of the Author’s work.
• The publication of an article is subject to peer review, and acceptance is not guaranteed upon submission.
5. Retraction and Corrections
• The Journal follows COPE (Committee on Publication Ethics) guidelines and reserves the right to retract, correct, or withdraw an article in cases of misconduct, errors, or ethical concerns.
6. Governing Law
This Agreement is governed by the laws of Switzerland. Any disputes arising under this Agreement shall be resolved in the courts of Zurich, Switzerland.
7. Agreement Acceptance
By submitting a manuscript, the Author acknowledges and agrees to the terms outlined in this Agreement.
Editor-In-Chief
Prof. Dr. Milos Petkovic
