Journal of Business and Enterprise Development (JOBED)

Implications of Monitoring and Evaluation Systems for SMEs in some Selected Metropolis in Ghana

Daniel Agyapong, Gloria Agyapong, Bernard Agyei-Poku — Mon, 14 Oct 2024 00:00:00 +0000

The purpose of this research was to examine how monitoring and evaluation systems affect small and medium-sized businesses in selected Ghanaian metropolises. The research design used was explanatory. The population for this study comprised owner-managers of SMEs in Ghana captured in the GEA and the AGI databases. From these two sources, a sampling frame was created for those in the selected metropolis. This gave a total population size of 1,189. For this frame, a sample of 423 SMEs was selected comprising SMEs from the Sunyani, Accra, Kumasi, Cape Coast, and Tamale metropolitan areas. The sample size for the study was 423 SMEs. The primary data collection tool was a self-administered questionnaire. Data was collected, cleaned, and coded before being entered into statistical software programs like SPSS and Smart-PLS. For the study's key findings, it was noted that the SMEs that took part in the study had monitoring and evaluation practices in place. The third and fourth objectives showed that monitoring and evaluation systems had a significant effect on both business resilience and business sustainability, respectively. It was discovered that monitoring and evaluation systems had a large and favourable effect on business growth and the digitalisation business respectively, for objectives 5 and 6. The study recommended that managers of SMEs within the selected area improve upon their monitoring and evaluation systems. This will increase the effect it will have on their resilience, growth, sustainability and digitalisation.

Digital transformation: A roadmap to leverage businesses for SMEs

Leila Denmamode, Shireen Panchoo — Thu, 17 Oct 2024 00:00:00 +0000

COVID-19 has been a critical turning point for businesses worldwide, compelling them to adopt digital technologies to sustain their economic activity. However, with limited resources such as budget constraints, transforming business strategies to integrate digital technologies is tedious. As the global market continues to evolve into a dynamic digitalised landscape, adopting digital transformation has become essential for businesses, especially start-ups and small- and medium-sized enterprises (SMEs), to remain competitive. Consequently, this study presents a roadmap for start-ups and SMEs to guide them in looking for support in digital technologies to leverage their businesses. The methodology includes a review of the industry’s best practices and case studies based on successful implementation, while fostering a customer-centric approach. Visits to trade fairs and interviews with small business owners were conducted (1) to understand the challenges faced by SMEs and (2) to identify their need to use digital technologies. The results show that one of the main challenges SMEs face is that apart from the lack of proper infrastructure, they lack confidence in adopting technology in their business. They require knowledge of digital technologies to properly define their requirements and use digital platforms. A framework mapped on the hierarchy of effects model is proposed to assist SMEs embarking on digital transformation systematically to learn, adapt, evolve, and sustain their businesses based on their needs and pace. This research contributes to the strategic roadmap, which provides step-by-step guidelines to support SMEs that could be part of their respective countries’ economic growth.

The Impact and Resilience of Mauritian SMEs: Sales Dynamics during the COVID-19 Pandemic

Eric Bindah, Leenshya Gunnoo — Thu, 17 Oct 2024 00:00:00 +0000

The COVID-19 pandemic has left an indelible mark on the global economy, significantly impacting small and medium-sized enterprises (SMEs) in Mauritius. This study investigates the sales dynamics of local SMEs during the COVID-19 pandemic. Through a quantitative survey, data was collected data on sales performance during the pandemic to gain comprehensive insights into the challenges faced and the adaptive strategies employed by these businesses. The findings underscore the challenges that the majority of participants encountered during the pandemic, with a notable decline in sales emerging as a central concern. The study reveals the diverse measures adopted by these enterprises to navigate the unprecedented economic turbulence. Notably, many turned to online sales channels, implemented cost-cutting measures, and adjusted their workforce. Furthermore, our research sheds light on the perceptions of government intervention among these businesses. A significant proportion expressed satisfaction with the government's response, believing in its effectiveness. This study offers valuable insights into the multifaceted impact of the COVID-19 pandemic on local SMEs in Mauritius and identifies the strategies adopted by these enterprises to adapt to the continually evolving economic landscape. These findings hold significance for policymakers, business proprietors, and other stakeholders as they craft and implement strategies to support and rejuvenate local businesses in the post-pandemic era.

Total quality management, supplier quality and operational efficiency in the public health sector in the Upper East Region of Ghana

Ramatu Issifu, Tiire Juliet Kano — Thu, 17 Oct 2024 00:00:00 +0000

The purpose of this study was to examine the role that Total Quality Management (TQM) plays in ensuring operational efficiency via supplier quality in public health sector in the Upper East Region. Specifically, the study examined the effect of TQM on supplier quality; effect of TQM on operational efficiency; effect of supplier quality on operational efficiency and finally assessed the mediating role that supplier quality plays in the relationship between TQM and operational efficiency within these health sectors in the Upper East region. Structured questionnaire was utilized to solicit primary data from the study’s respondents. The selection of 174 sampled respondents from the total population of 352 public health facilities were done using a simple random sampling procedure. Also, version 24 of the IBM SPSS software and the SmartPLS model was utilised to process the data. The demographic characteristics of the respondents were analysed with the help of descriptive tools such as means and standard deviation, while inferential statistical tools was employed in testing the cause-and-effect hypothesised relationships between the variables. The findings revealed that total quality management had a positive significant effect on supplier quality. Likewise, the objective two showed that total quality management had a positive statistically significant effect on operational efficiency. The third objective showed that supplier quality had a positive statistically significant effect on operational efficiency, and the fourth research objectives revealed a positive statistically significant mediating effect of supplier quality in the relationship between total quality management and operational efficiency. The study recommended that, management of health facilities within the Upper East region should emphasize on putting measures in place to ensure the improvement of their TQM practices to help set standard that will ensure that suppliers goods and services conform to quality standards

Consumer Buying Behaviour Towards Life Insurance Post-COVID-19 in Ghana

Benedicta Aidoo, Francis O. Boachie-Mensah — Thu, 17 Oct 2024 00:00:00 +0000

The current study explores consumer buying behaviour towards life insurance among private basic school teachers in the Cape Coast Metropolis of Ghana, focusing on the post-COVID-19 landscape. Utilizing a descriptive survey design, data were gathered through a five-point Likert-type scale questionnaire and analyzed using various statistical methods, including frequencies, percentages, mean, standard deviation, and Pearson Product Moment Correlation. Using a population of 224 private school teachers, the results indicated that teachers primarily opt for life, hospital, and education support plans, signifying an aspiration to secure their future and further their education. The study underscores the imperative for financial resilience post-COVID-19 to protect the emerging middle class from reverting to poverty. Although teachers employ strategic coping mechanisms during the pandemic, they expressed concerns over delayed life policy settlements, which have compounded their challenges. Recommendations include targeted engagement by insurance companies at private basic schools to elucidate the benefits of life policies, as well as the formulation of insurance packages that offer effective risk coverage and promote long-term investment, rather than merely focusing on tax benefits.

Ghanaian Small and Medium-Scale Enterprises (SMEs') Readiness for African Continental Free Trade Area (AfCFTA) Implementation

Ruben Doagbodzi — Thu, 17 Oct 2024 00:00:00 +0000

This paper seeks to assess Ghanaian Small and Medium-Scale Enterprises (SMEs') readiness for the African Continental Free Trade Area (AfCFTA) Implementation. The research instrument used to collect data was questionnaires and the study employed descriptive research design. The study randomly selected 250 SMEs from a population of 480 SMEs that were registered members of the Ghana National Chamber of Commerce and Industry, Cape Coast Branch and operating within manufacturing, pharmaceutical, herbal, tourism, hospitality, food and beverage, agribusiness, garment, leather, and textiles. Data collected from the SMEs was analysed using SPSS, version 28. The findings from the study shows that, there is a significant gap between Ghanaian SMEs' readiness for AfCFTA implementation. The study finds out that although majority of SMEs are capable of innovation and developing new products, they also have limited knowledge of export documentation, trade information and infrastructure, trade finance, and funding for expansion. They also have low knowledge and lack a basic understanding of the benefits of AfCFTA, its advantages, components, protocols, and Rules of Origin. The study again revealed that the obstacles facing Ghanaian SMEs exportation are high cost of production, border delays, poor infrastructure, high inflation, difficulty in accessing credit, and language problems. Based on these findings, the study recommended that SMEs needs to be retooled particularly in the area of AfCFTA Rules of Origin, its objectives, components, and Ghana’s trade policy to improve their readiness for AfCFTA implementation. Again, businesses should concentrate more on value addition, and be dedicated to looking for ways to enhance their current or existing products to outperform comparable products from other African nations.

Leveraging Architecture Development Methodology to Enhance AfCFTA’s Success

Michael Agyekum Bremang — Mon, 14 Oct 2024 00:00:00 +0000

This study analyses the application of the Architecture Development Method and the creation of bespoke ADM-based architecture for African Free Trade Continental Area (AfCFTA), using the existing architectural artefacts and TOGAF Architecture Continuum. Central to this objective is the establishment of an AfCFTA customised Architectural Management System (AMS). The AMS integrated application provides an architectural repository, workflow management, collaboration tools, documentation, reporting and analytics, integration capabilities, and robust security measures. The study’s research design is qualitative and characterised by the use of a descriptive and exploratory approach. Data analysis methods include content analysis of qualitative data, thematic analysis of TOGAF architecture repository principles, standards, and guidelines on AfCFTA, comparison of different trade agreements for AfCFTA and narrative synthesis on how ADM can enhance AfCFTA’s operational framework. The research findings report that the Architectural Development Methodology within TOGAF improves resource distribution, cross-border collaboration and regulatory coherence thereby increasing operational effectiveness. It makes theoretical contributions by embedding directions that can be adopted across AfCFTA for architecture development and regional trade. This paper demonstrated the value of leveraging existing architectural artefacts with practical contributions specifying the necessity of an Architecture Development Methodology supported by an Architecture Management System. The significance of strong business, information and technological architectures, the importance of standards, principles and guidelines which harmonise trading costs and the importance of the stakeholder role in making sure AfCFTA is successful are underlined by the study. Future studies should focus on the quantitative estimation of the impact that ADM has on trade operations optimisation with the introduction of new technologies and full-fledged implementation of AMS and ADM. Designed to suit the peculiar challenges and opportunities of AfCFTA, this research promotes regional trade integration, sustainability and economic growth in Africa that would benefit businesses through increased operational efficiency and competitiveness.

Implementing African Continental Free Trade Area: Lessons from Afro-Pessimists and Afro-Optimists

William Asante, Edinam Bernice Amenumey — Thu, 17 Oct 2024 00:00:00 +0000

Global cooperation has been an acceptable strategy for addressing many of the world’s challenges. The African Continental Free Trade Area (AfCFTA) agreement which entered into force on 30 May 2019 was designed in a similar light for Africa’s development. Its objectives among others are to create a single market for goods, and services, and deepen the economic integration of the African continent by the vision of an integrated, prosperous, and peaceful Africa as enshrined in the Agenda 2063. However, these benefits may not be realized unless member states garner concerted and sustained efforts to ensure the effective implementation of the AfCFTA. These efforts often elude most developing countries, and it is against this backdrop that this study attempts to investigate whether the contrasting perspectives of the Afro-pessimists and Afro-optimists could be of relevance to AfCFTA implementation. Using desk review methodology, the study synthesized both empirical and theoretical literature and found that Afro-pessimists are very critical and paint a gloomy picture of Africa. Whereas the Afro-optimists, are more positive looking with the claim that Africa is mistreated and its achievements are inordinately ignored. Significantly, both perspectives deepen understanding of the strengths and weaknesses of Africa’s development, providing a useful context for either the failure or success of the AfCFTA’s implementation. The key lesson the study draws is for Africans to maximize their strengths as much as possible and minimize their weaknesses. This will actualize the “Africa rising” phrase and lead to the majority of Africans rising with Africa.

A critical analysis of Rwanda’s Digital skills and entrepreneurship training toward solving youth unemployment

Adio-Adet Tichafara Dinika — Mon, 14 Oct 2024 00:00:00 +0000

This study critically examines the role of digital skills and entrepreneurship training in addressing the persistent issue of youth unemployment in Rwanda. The paper primarily anchors on the Human Capital Theory and Entrepreneurship Theory to provide a solid theoretical framework, tying together education, skill development, and entrepreneurial activity as vital drivers of productivity, job creation, and economic development. By employing a qualitative methods approach that utilises qualitative stakeholder interviews, this research evaluates the effectiveness of the various policies and programs aimed at fostering digital and entrepreneurship skills to young people in Rwanda, to promote employment. The research unveils that these programs hold significant potential in equipping the Rwandan youth with relevant skills and nurturing an innovative and entrepreneurial culture. However, it also highlights key areas requiring attention: the lack of robust follow-up mechanisms and the need for continued support post-training. It advocates for policymakers and program implementers to prioritize these aspects to maximize their initiatives' impact. The implications of this study extend beyond Rwanda's borders as countries worldwide grapple with similar challenges. Therefore, the insights gleaned from Rwanda's approach could guide other nations in leveraging digital skills and entrepreneurship training to combat youth unemployment in the digital age. It concludes by recommending future research directions, including maintaining program relevance in the ever-evolving digital landscape and instituting more effective support mechanisms for venture sustainability.

Occupational Gifting and Entrepreneurial Development among the Fantse of Ghana

Alex Wilson, Anasthascia Boateng — Thu, 17 Oct 2024 00:00:00 +0000

This paper, derived from ethnographic research projects on the indigenous social and economic systems of the Fantse, conducted in Mankesim and Abura Markets in the Central Region of Ghana noted that the lack of credit facilities from the formal banking sector makes many youthful entrepreneurs rely on family and friends for start-up capital. Using the model of capital accumulation developed by Das, Mourmouras, and Rangazas (2018), the paper argues that occupational gifting offers opportunities for the aged to give out their lifetime savings and expertise in return for care and thereby creating avenues for the youth to raise capital to revamp existing small-scale family businesses to provide them with employment and facilitate effective care of the aged. The paper concludes that occupational gifting helps to guarantee a stable means of income and financial security for both the youth and the aged. It recommends that occupational gifting should be encouraged by making the youth accept businesses gifted to them and applying modern business strategies to develop such enterprises to help achieve the SDGs associated with the well-being of both parties, particularly, SDGs 1, 3, 5, 8 and 16.

The impact of Mobile Money innovation in Ghana on bank profitability

Philip Ayagre — Thu, 17 Oct 2024 00:00:00 +0000

The study investigated the bank specific, industry and macroeconomic factors that impact the profitability of banks from a developing country perspective. The differentiator for this paper is the inclusion of mobile money floats as a factor that influence bank profitability in a mobile money driven financial system. Using panel data techniques, the study found that bank-related factors that drive bank profitability are operating expense ratio, capitalisation, and bank size. All macroeconomic variables included in the study are also important in explaining bank profitability and so is market concentration and regulation. The study however, revealed that mobile money floats does not influence bank profitability significantly, however, bank size complements and moderates the relationship between mobile money and bank profitability positively. The study recommend that smaller banks should invest more in information technology to attract more mobile money floats to improve upon profitability and consequently financial inclusion and economic development.

Youth involvement in rice production: A panacea for youth restiveness in Anambra State, Nigeria

Clement Okechukwu Attamah, Francisca Ebubechukwu Nwosu — Mon, 14 Oct 2024 00:00:00 +0000

There is a great concern about youth restiveness due to growing unemployment in Nigeria, whereas agriculture is a huge business space with the potential for youth involvement and employment. The study sought to ascertain the level of youths' involvement in rice production in Anambra State, Nigeria. Eighty youths were purposively selected because of the preponderance of rice production in the area. Data were collected using a structured interview schedule and were analysed using mean, standard deviation, and multiple linear regression. The study revealed that youths were into the planting of rice seedlings, buying and selling of seedlings, harvesting, and fertilizer application. Sex and level of education significantly influenced youths' involvement in rice production. The youths were constrained majorly by the high cost of inputs, and lack of funds to expand production. Adequate and comprehensive training on rice production and enforcement of practical agriculture curricula in schools were identified as possible strategies for improving youths' involvement in rice production. The study concluded that youth were into rice production though influenced by their level of education and sex. The government should make rice production attractive to the youth by eliminating the constraining factors associated with it.

Saving Honest Entrepreneurs through the Second Chance Policy in Ghana

Francis Korankyi-Sakyi — Mon, 14 Oct 2024 00:00:00 +0000

This paper analyses the existing legal frameworks on insolvency in Ghana and how they sufficiently provide to save honest entrepreneurs during financial reforms. Financial sector reforms are a welcomed mechanism to foster financial sector efficiency for sustainable growth. During the period of decision-making in financial sector reforms, it is expected that some business concerns would have their lifespan terminated. Notwithstanding, recent episodes of financial deregulation have revealed unintended consequences of demobilising the sector which has affected innocent entrepreneurs. The aftermath of the financial sector reforms has passed the Corporate Restructuring and Insolvency Act, 2020 (Act 1015). This paper aims to address the issue of whether or not the existing legal framework benchmarked against the Capital Adequacy, Asset quality, Management, Earnings, Liquidity (CAMEL) framework absolves honest entrepreneurs in such a period as against fraudulent entrepreneurs. The paper adopted the doctrinal legal research approach using distinct research tools including data from primary sources, statutes, journal articles, online resources and other obligatory tools. It finds that recent financial sector reforms did not segregate the fraudulent entrepreneur from honest entrepreneurs to make room for the CAMEL to save the latter. It concludes on how a second chance policy can be developed along with existing statutes to settle and save honest businesses in periods of economic volatility.