Economic Development Obstacles in Africa and the Middle East. Reasons for the Slow Development of Entrepreneurship

Economic Development Obstacles in Africa and the Middle East. Reasons for the Slow Development of Entrepreneurship
Author: Antoine Niyungeko
Publisher: GRIN Verlag
Total Pages: 6
Release: 2020-11-26
Genre: Business & Economics
ISBN: 3346304574

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Essay from the year 2020 in the subject Economics - Macro-economics, general, , language: English, abstract: This paper analyses what may be the reasons for Africa and the Middle East seemingly lagging behind other world regions in terms of economic development. It explains why entrepreneurship has been slow to develop in the region, and gives suggestions for how it may be developed more assertively. The problems that may constitute the reasons for lagging behind others may be inadequate education systems, division and war or heavy administrative procedures. Furthermore, difficult access and high-lending interest rates as well as colonialism consequences can be a reason. Income or poverty in the regions may reduce the demand for goods and services, support high corruption, lead to low salaries and wages for states employees and insufficient savings for workers to begin new business. Education in Africa is a heritage of the colonial system which did not intend to develop entrepreneurship in colonized countries. Courses are dominated by modules that are not related to entrepreneurship, but full of content like foreign literature like French and English or History. Courses offered by universities are disconnected to labor market needs and new technologies. Courses are full of theory without practical knowledge. Professional courses are limited, and graduates lack in practical knowledge. Secondly, African countries are not united. Some of them have much diversity in culture, religion and ethnics. But instead of using the diversity to generate new ideas, creativity and innovation, the diversity is the basis of war in African countries. No entrepreneur can engage seriously in a country at war. Molem indicated Cameroon had linguistic and cultural diversity with more than 289 ethnic groups, and a colonial legacy of French and English cultures and languages, plus remnants of a German substratum.

Private Sector and Enterprise Development

Private Sector and Enterprise Development
Author: Lois Stevenson
Publisher: IDRC
Total Pages: 383
Release: 2010
Genre: Business & Economics
ISBN: 1849802955

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Examines the challenges to private sector growth in 12 Middle East and North African (MENA) countries, assessing comparative performance against a number of indicators and focusing on the special role of SMEs and entrepreneurial activity. Highlights the variation among countries in private sector dynamism and performance, the major government policy initiatives supporting private sector and SME activity in each country, and the perspectives of government officials, researchers, and other stakeholders on research, policy, and institutional capacity needs. Concludes with a framework for guiding a comprehensive set of policies and strategies to unleash the potential of entrepreneurship as a platform for future private sector growth.

African Entrepreneurship

African Entrepreneurship
Author: Leo-Paul Dana
Publisher: Springer
Total Pages: 359
Release: 2018-05-23
Genre: Business & Economics
ISBN: 3319737007

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This book outlines the unique challenges and opportunities of doing business in Africa, analysing how varying degrees of development across its countries affects entrepreneurship. Taking into account historical and cultural contexts, the authors approach the topic by evaluating the different possibilities of business opportunity in Africa. Insightful contributions explore an extensive range of African countries, discussing both formal and informal entrepreneurship, as well as the different factors that influence the growing economy of Africa. African Entrepreneurship will be of interest to anyone researching the potential of doing business in Africa, as well as entrepreneurs and policy-makers looking to expand their knowledge on how businesses are managed in this region.

Entrepreneurial Rise in the Middle East and North Africa

Entrepreneurial Rise in the Middle East and North Africa
Author: Stavros Sindakis
Publisher: Emerald Group Publishing
Total Pages: 327
Release: 2022-03-02
Genre: Business & Economics
ISBN: 1800715196

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Entrepreneurial Rise in the Middle East and North Africa: The Influence of Quadruple Helix on Technological Innovation explores the relationships and inter-dependencies between innovation, political regimes, and economic and social development throughout the Middle East and North Africa region.

The Future of Entrepreneurship in Africa

The Future of Entrepreneurship in Africa
Author: Anthony Abiodun Eniola
Publisher: Taylor & Francis
Total Pages: 177
Release: 2022-12-30
Genre: Business & Economics
ISBN: 1000816621

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For many years, entrepreneurship has been considered as one of the most important solutions to the three-pronged challenges, poverty, unemployment and inequality, of most African countries. A recent development that has undoubtedly compounded the challenges that African entrepreneurs face and further impede the economic growth impact is Covid-19. This pandemic has exerted severe damage to economies and businesses globally. For the African setting, the implications of Covid-19 on businesses and individuals would be enormous, as African societies are rarely equipped to absorb unexpected shocks of this magnitude as the social and welfare schemes are far below requirements. This book illuminates entrepreneurship in the African setting, focusing on the prospects, challenges, and the post-Covid-19 pandemic future. It aims to offer a rich repository of information on strategies and techniques for sustaining entrepreneurial activities that can enrich African nations and will be of relevance to academics, researchers, advanced students, entrepreneurs, governments, and government agencies who are interested in understanding issues relating to entrepreneurship development within the African continent.

The Future of Entrepreneurship in Africa

The Future of Entrepreneurship in Africa
Author: Robert E. Hinson
Publisher: CRC Press
Total Pages: 179
Release: 2023-08-22
Genre: Business & Economics
ISBN: 1000912043

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Entrepreneurial and Small Business Development in Africa focuses on entrepreneurial development and the development of small businesses in Africa. The central idea of this book is that entrepreneurial development and small business development are connected. Entrepreneurship is lauded as an engine of growth (economic development and job creation), with small businesses often contributing to new job creation. Also, entrepreneurship and small business development are the heart of many countries’ economies. The decision to focus on entrepreneurial development and small business development is that first, there is a consensus that most entrepreneurial activities are aimed at creating small new ventures. Second, countries that give special attention to entrepreneurship stand a chance of industrialization. Third, Africa has been reported as having a rich entrepreneurial landscape as the continent’s wealthiest individuals generated their wealth as trailblazing entrepreneurs. Fourth, small-scale entrepreneurs and businesses form the backbone of economic activities across the continent. A motivation to focus on entrepreneurial and small business development is the generally accepted view that start-ups in Africa are growing calling for understanding into how to enhance productivity, efficiencies, and application of new technologies. The book aims to enhance the understanding of stakeholders (business owners, governments, practitioners) to overturn challenges such as inadequate start-up capital, competition, lack of employees with the right skills, and low use of technology. The ability to develop entrepreneurship in Africa, and the role of small-medium enterprises cannot be underestimated. The promotion of entrepreneurship in Africa is crucial as it creates jobs, provides decent livelihoods, and contributes to GDP. Most entrepreneurial initiatives in developing economies entail identifying opportunities and new venture creation. It is worth recognizing that most new ventures created take the form of small businesses and the entrepreneurial processes involve entrepreneurs’ knowledge and skills, identifying opportunities, involvement in setting up a business and managing the business. The various aspects of this book focus on many entrepreneurial activities that are undertaken on the African continent. This book is focused on African countries since there is a reason to be optimistic about the prospects for growth and entrepreneurship. To achieve entrepreneurial success in African countries, the African Development Bank (2021) proposes that there must be a link between macro and firm-level characteristics that will serve as the mix of entrepreneurship in societies. This book, therefore, considers some macro-level factors such as education, training, and skills development, technological developments, government programs, and entrepreneurial challenges and opportunities. At the firm-level, this book focuses on entrepreneurial initiatives such as branding and marketing.

Challenges of Growth and Globalization in the Middle East and North Africa

Challenges of Growth and Globalization in the Middle East and North Africa
Author: Mr.Hamid R Davoodi
Publisher: International Monetary Fund
Total Pages: 44
Release: 2003-09-05
Genre: Business & Economics
ISBN: 9781589062290

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The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.

Entrepreneurship and Sustainable Development in Africa

Entrepreneurship and Sustainable Development in Africa
Author: Paschal Anosike
Publisher: SAGE
Total Pages: 182
Release: 2022-01-26
Genre: Business & Economics
ISBN: 1529792827

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High foreign aid dependence, poor human capital, rising high youth unemployment and poverty are just some of the reasons that Africa represents such a striking symbol of global inequality today. In this book, the author draws on his research and experience of working with key stakeholders to explore how Africa can take advantage of the knowledge economy and 4th Industrial Revolution opportunities to rebuild from the Covid-19 pandemic and empower its people and encourage entrepreneurship. Entrepreneurship and Sustainable Development in Africa is a book the African political class, economic policy and development experts, the donor community, academic researchers and students of business and international development can rely on for a better understanding and solutions to Africa’s historical and contemporary socio-economic problems. Paschal Anosike is Associate Professor of Entrepreneurship and Innovation and the founding Director of Centre for African Entrepreneurship and Leadership (CAEL) at the University of Wolverhampton.

Enterprise and Economic Development in Africa

Enterprise and Economic Development in Africa
Author: Dina M. Nziku
Publisher: Emerald Group Publishing
Total Pages: 376
Release: 2021-06-11
Genre: Business & Economics
ISBN: 1800713223

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Presenting a topical analysis of the challenges and achievements of enterprise, Enterprise and Economic Development in Africa examines contributions to economic development on the continent, as well as exploring implications for policy dimensions.

Entrepreneurship and the Informal Sector

Entrepreneurship and the Informal Sector
Author: Nnamdi O. Madichier
Publisher: Taylor & Francis
Total Pages: 123
Release: 2022-12-26
Genre: Business & Economics
ISBN: 1000816044

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This book contributes to the ongoing discussion around entrepreneurship in Africa and how it can be made more sustainable. The chapters included highlight the need to consider the grey area between private and public sector dichotomy, which has been the focus of previous research efforts. The contributors to this book offer an intersectional view of entrepreneurship and widen the lens of inquiry to include informal sectors in discussions pertaining to innovation in business. The individual chapters consider economic and sociocultural contexts, the role of gender, the effect of militancy on entrepreneurship and informal small and medium enterprises. By doing so, this book argues that the neglect accorded to the informal and self-employment sectors may have hampered African business development in various ways. This book is a significant new contribution to studying informality in relation to business and entrepreneurship. It will be of interest to researchers and advanced students of business, economics, politics, sociology, public policy, and development studies. This book was originally published as a special issue of the Journal of African Business.