Development of Entrepreneurship in Ghana the Way Forward

DEVELOPMENT OF ENTREPRENEURSHIP IN GHANA: THE WAY FORWARD Entrepreneurship is the most powerful economic force known to mankind. The Entrepreneurial Revolution that captured our imagination during the 1990s has now permeated every aspect of business thinking and planning. As exemplified by industry players and era definers like Sam Walton of Wal-Mart, Fred Smith of FedEx, Bill Gates of Microsoft, Mark Zuckerberg of Facebook, Alhaji Asuma Banda of Antrak Group of Companies, Mike Adenuga Jnr of Globacom, and Kofi Amoabeng of UT Financial Services, the applications of creativity, risk taking, innovation, and passion lead the way to economic development far greater than anyone could imagine. Entrepreneurship is the process of creating or†¦show more content†¦Ideas must be matched with basic skills and an understanding of business practices and these are things that can be taught to help burgeoning entrepreneurs create successful businesses. ïÆ'Ëœ Lack of education. Entrepreneurship has not been given much attention both in our various homes as well as our educational institutions. The government has not done any better in this regard. It is too challenging that it is very difficult differentiating a business man from an entrepreneur. The tomato seller at Central Market believes she is an entrepreneur. Our educational system has failed us in this regard. Most schools do not teach on this area and even the few who do teach on this subject, little can be deserved of the knowledge imparted to the student. This challenge has ripple effects on several other challenges. The unawareness created by the lack of education causes the ignorance as spoken of under the financial support challenge The way forward A comprehensive approach to promoting entrepreneurship must work on three levels-individuals, firm and society. To motivate individuals to become entrepreneurs, they should be made aware of the concept of entrepreneurship and this should be made sufficiently attractive option. They should be equipped with the right skills to turn ambitions into successful ventures. For entrepreneurial ventures to developShow MoreRelatedSELF EFFICACY BUSINESS PLAN Essay4753 Words   |  20 PagesKolvereid and Isaksen 2006) 2.2 MEASURING ENTREPENEURIAL SELF-EFFICACY A number of students tend to be from the viewpoint that its not essential to possess a particular entrepreneurial self-efficacy creating, instead of recommending an over-all way of measuring self-efficacy. 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