Business Sustainability Among Women Entrepreneurs in Ghana
DOI:
https://doi.org/10.33423/jbd.v24i3.7318Keywords:
business diversityAbstract
There is a problem among women entrepreneurs in Ghana caused by the lack of training among women’s entrepreneurs that includes social, cultural, economic, political, demographic, institutional, and technological support. The purpose of this qualitative exploratory multiple case study was to explore business strategies that women entrepreneurs in Ghana need to learn to make their business sustainable beyond 5 years. Ten successful women entrepreneurs from 5 industries in Ghana, who had the training, experience, and information to understand the causes of business failure and had applied that information to gain business sustainability beyond 5 years were recruited. Data analysis involved triangulation, member checking, and Yin’s 5 steps. Key findings were change management and adaptation, agility and flexibility in operations, analysis of stakeholders, creation of business policies and objectives, designing and executing digital implementation plan, developing and supporting corporate culture, developing and measuring performance standards, and enhancing internal control and processes. Findings could reduce poverty and increase women’s employment, sustainability in women-owned businesses, community development, and the standard of living.
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