A survey of 1,000 startup owners in five Sub-Saharan African countries has reported funding is the greatest need if the number of entrepreneurs in the respective nations is to be increased.
The poll was conducted by GeoPoll, the Global Entrepreneurship Network and the US State Department ahead of Barack Obama’s visit to Kenya for the Global Entrepreneurship Summit (GES).
Via SMS, GeoPoll surveyed 200 entrepreneurs in each of the Democratic Republic of Congo (DRC), Ghana, Kenya, Nigeria, and South Africa, asking them what resources were most needed to encourage entrepreneurship.
Funding was deemed key, with 36% of respondents saying “more financial resources” would increase the number of entrepreneurs in their country, while 24% said “better facilities and services” and 23 per cent replied “government support”.
Forty-four per cent of respondents said they have participated in a programme or activity in the past year aimed at improving their business, including business development and management training, entrepreneurship programmes, and financial training.
One question focused on increasing entrepreneurship among youth and women, with funding – at 41% – again cited as the resource most needed to help youth and women entrepreneurs. This was followed by government support at 22%, access to market information at 18%, and access to high-skilled workers at 16%.