Success versus Failure Prediction Model for Small Businesses in Ghana
Success versus Failure Prediction Model for Small Businesses in Ghana
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Date
2019
Authors
Gyimah, Prince
Journal Title
Journal ISSN
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Publisher
Routledge
Abstract
This study tests the validity of Lussier model in predicting success or
failure of small businesses in Ghana, Africa. The study uses logistic
regression to analyze 101 failed and 107 successful small businesses.
The results of the study support the model validity in Ghana and three
variables (capital, economic timing, and marketing skills) were signifi cant in predicting small businesses success or failure. The model also
predicted 86.5% of the businesses accurately with a high R-square
value. This study is the first to test the Lussier model in Africa and
reinforces the validity of the Lussier model as a global success or failure
prediction model that contributes to theory and practice. Implications
for future and current entrepreneurs; government agencies that train,
advice and assist small business owners; public policy makers; educa tors; suppliers; lenders; and consultants are presented
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Citation
Gyimah, P., Appiah, K. O., & Lussier, R. N. (2020). Success versus failure prediction model for small businesses in Ghana. Journal of African Business, 21(2), 215-234.