Strategic entrepreneurship and small firm growth in Ghana

Abstract

Using concepts derived from strategic entrepreneurship, this article discusses small firm growth models and investigates the determinants of small firm growth in Ghana. The study develops hypotheses that relate firm growth to investment in research and development, human capital, social capital, innovation and exporting. Using data from a sample of 441 entrepreneurs, the study develops ordinary least square regression models to test the hypotheses. The models find several positive relationships between firm growth and the characteristics of the entrepreneur, firm resources and firm strategy, and in so doing provide some support from a developing country for the strategic entrepreneurship framework.