Drivers of entrepreneurial start-ups and challenges on start-ups success: implications for entrepreneurial education in Ghana

Abstract

The need for entrepreneurial education has become essential in Ghana due to the increasing number of graduate unemployment. As a result, we explored the factors that drive start-up success, start-up challenges, and their implications for entrepreneurial education in Ghana. We sampled 323 SMEs from different sectors in Ghana using convenient sampling. The study employed a survey design and a quantitative research approach. We analysed the data with exploratory factor analysis and multiple regression. The findings showed that personal freedom and knowledge acquired through entrepreneurial education are the major drivers that positively influence start-up success. We also found that start-ups with more full-time employees tend to experience more success than start-ups with more part-time employees. The study further observed that the challenges faced by start-ups play a significant positive role in their success. Finally, we found that entrepreneurs' level of education positively influences the critical success factors of start-ups. Therefore, government and entrepreneurship curriculum designers in Ghana must consider the drivers of start-ups to enhance entrepreneurship education and training in Ghana. Discussion of findings, limitations, and recommendations for future research are discussed below.