Abstract:
The study was designed to investigate the challenges graduate entrepreneurs faced in
developing and sustaining their businesses in the Kumasi Metropolis. Data was
collected using interview and focus group discussion guides. Fifteen participants were
selected for the study, using the purposive and snowball sampling techniques. Data
collected was analysed qualitatively. The study revealed that, graduate entrepreneurs
in the Kumasi Metropolis were faced with challenges such as lack of capital and high
taxes, poor management and inadequate marketing accessibility, legal and regulatory
issues, and insecurity and thievery. It was also revealed that, among the numerous
effects the challenges posed to the businesses of graduate entrepreneurs in the Kumasi
metropolis, were their inability to get access to the formal sector of the economy, poor
business expansion as well as poor labour practices and high attrition rate. Based on
the findings of the study, it is recommended that, government of Ghana, through
Parliament should implement a tax regime policy that will either exempt graduate
entrepreneurs from paying taxes for at least, the first five years of operation of their
businesses or reduce their taxes to help grow their businesses. It is also recommended
that, graduate entrepreneurs are assisted with the needed funds to operate their
businesses. Thus, the commercial banks must be encouraged to give loans to graduate
entrepreneurs at low interest rates to promote their businesses. Graduate entrepreneurs
must also be assisted to access the Ghana Venture Capital Trust Fund and Micro
Finance and Small Loans Centre (MASLOC) to promote their businesses.
Description:
A thesis in the Department of Social Studies Education,
Faculty of Social Sciences, submitted to the School of
Graduate Studies in partial fulfilment
of the requirements for the award of the degree of
Master of Philosophy
(Social Studies)
in the University of Education, Winneba