AN INVESTIGATION INTO MICRO ENTERPRISE GROWTH IN GHANA: EVIDENCE FROM “GORO BOYS” IN ABOSSEY-OKAI MARKET, ACCRA

ABSTRACT

The distortions in the literature on the relevance of micro-enterprises have been blamed partly on the lack of clarity on the growth measures for micro-enterprises. This study, therefore, investigated whether there are specific growth measures used by micro-enterprise to measure growth. From a qualitative perspective, the researcher adopted a case study strategy, semi-structured interview, and a snowballing sampling technique to sample five micro-entrepreneurs popularly called ―Goro boys‖ in Abossey-Okai Market in Greater Accra Region. Four research questions were investigated. After thematic analysis, some essential findings have been revealed. Objective one, which examined the operational processes of ―Goro boys‖ showed that they act as expert transaction facilitators, network with sellers of spare parts and also make money through margins on their facilitation. From objective two, the result espoused that micro-enterprises believe they are growth-oriented enterprises; nevertheless, this study largely found that their indicators are not functional growth as such, but it is about survival. These indicators, therefore, include: improved standard of living; personal wealth; income from the ―Goro‖ business; and subsidiaries. Objective three, which examined the challenges of micro-entrepreneurs, revealed that imitation of spare parts, extreme weather conditions, and price fluctuation are some of the pressing challenges inhibiting their growth. Micro-entrepreneurs responded that they employ personal saving, institutional savings, i.e. ―susu collection‖, and credit from family and friends as a means to enhance their growth. The study has made the recommendation that, while micro-entrepreneurs engage in training and skills development programmes, intervention programmes such as small grants, periodic workshops, skill training and development programmes should be organised with a focus on helping these micro-entrepreneurs protect, improve and prevent their businesses from collapsing.