The Role of Business and Entrepreneurship in Africa

Over the years, entrepreneurship has proven to be one of the key roles towards development. The cycle of business start-ups and growth are linked to the socio-economic benefits of the global world at large. With a growing world population of over 7billion people, the existence of universities (both public &private) as well as enterprises has increased globally in the 21st century. The mission and purpose behind Universities, Entrepreneurship and Enterprises thrive on development in the areas of capacity building, skill acquisition, training and knowledge amongst others. Africa alone has a population of over 1.2billion people with about 650 recognized universities and over 140,000 registered businesses (enterprises) in Ghana alone. A case study in Ghana reveals three key drivers towards entrepreneurship and the role university education has played in various business establishments. The drivers are problem statements, resources and research findings. Some of these notions to business include the management of risk, research findings and customer relationship. These are major features that need critical attention and play a role in business and entrepreneurship in Africa. A major success in business and entrepreneurship is the utilization of the human resource population and the lifeline support given to households in terms of income, while a barrier being the limited access to credit support from the financial companies at the inception stages. In conclusion, this conference should develop a practical book guide on business start-ups and entrepreneurship knowledge to be used at the various universities in Africa to enhance development