African Journal of Finance | 04 October 2000
Innovative Business Models for Microenterprise Growth in Rural Ghana’s Informal Labour Sector
Y, a, w, A, s, a, n, t, e, ,, A, b, u, b, a, k, r, I, b, r, a, h, i, m
Abstract
Microenterprises play a crucial role in rural economic development in Ghana, particularly within the informal labour sector where they often operate under challenging conditions. A qualitative research approach was employed, involving semi-structured interviews with microentrepreneurs, focus group discussions, and document analysis. Data were analysed using thematic content analysis. Microentrepreneurs reported significant challenges such as limited access to finance and market information, yet they identified key support mechanisms like mentorship programmes and digital literacy training that could facilitate growth. Innovative business models integrating mentoring services and digital education are recommended to address the unique needs of rural microenterprises in Ghana. Public-private partnerships should be encouraged to provide targeted support, fostering a sustainable ecosystem for microenterprise development.