Innovation and Business Sustainability Among SMEs in Africa: The Role of the Institutions
Innovation and Business Sustainability Among SMEs in Africa: The Role of the Institutions
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Date
2020
Authors
Takyi, Lydia Nyankom
Naidoo, Vannie
Journal Title
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Innovation and Business Sustainability Among SMEs in Africa
Abstract
Many SMEs lack business competitiveness and sustainability. Their potential for
growth and expansion is limited, and they are constrained by institutional challenges
(such as high-interest rates and rigid regulatory requirements) which impede their
creativity, innovativeness and sustainability. Despite the numerous contributions of
the sector to the Ghanaian economy, SME internationalisation in Ghana is at the
nascent stage and is bedevilled with a gamut of institutional challenges. Studies of the
formal and informal institutional effects on indigenous SME internationalisation in
the Ghanaian economy are limited. Furthermore, a stylised framework which serves
as a model to aid academics and researchers in investigating the impact of the formal
institutions (legal and political) and informal institutions (socio-culture) on Ghanaian owned businesses is under-canvassed in the Ghanaian entrepreneurial eco-system.
Hence, this paper suggests a model for institutions and SME internationalisation
to boost their innovativeness and business sustainability
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Citation
Takyi, L., & Naidoo, V. (2020). Innovation and business sustainability among SMEs in Africa: The role of the institutions. In Sustainability in the entrepreneurial ecosystem: Operating mechanisms and Enterprise growth (pp. 50-74). IGI Global.