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Funding key to develop youth,women entrepreneurs - Survey

July 28, 2015, 9:59 a.m.

A survey by GeoPoll, a mobile survey platform, has identified funding as the resource most needed to help develop the youth and women entrepreneurs in Africa.

The survey targeted 1,000 entrepreneurs across five African countries; 200 entrepreneurs per country in the Democratic Republic of Congo, Ghana, Kenya, Nigeria, and South Africa, and was conducted via SMS message in July, 2015.

In the survey, respondents were asked about what resources were most needed to encourage entrepreneurship, what programmes they had participated in to improve their businesses, and what were the biggest challenges facing new businesses.

According to a release issued in Accra, 44 per cent of respondents participated in a programme or activity in the past year aimed at improving their business.

“Of these open-ended responses, several key categories were identified, including business development and management training or courses, agricultural activities, entrepreneurship programmes, and financial training”, it said.

The released said when asked what would most help increase the number of entrepreneurs in their country, 36 per cent said “more financial resources”, 24 per cent - “better facilities/services” while 23 per cent opted for “government support”.

It said there was a strong desire for more training resources, with training programmes and entrepreneurship courses in school being the most popular responses to a question on how government could help people start businesses.

The survey also found social media to be the most popular online tool for supporting business growth.

The President of the Global Entrepreneurship Network, Mr Jonathan Ortmans, said “As policymakers explore smart and sophisticated steps to develop healthy entrepreneurial ecosystems across the African continent, the voice of the entrepreneur must remain in the foreground,” adding that “Being able to hear directly from entrepreneurs help guide our conversations at the Summit and beyond.”

Disclaimer : The views expressed in this news report do not necessarily reflect those of the National Development Planning Commission