The Global Entrepreneurship Network in conjunction with the U.S. State Department has released a survey done by GeoPoll. They surveyed 1000 business owners from various sub-Saharan countries, which included the Democratic Republic of Congo, South Africa, Nigeria, Kenya and Ghana, where each of these countries had 200 entrepreneur participants.
GeoPoll’s findings
GeoPoll has a network of 200 million users throughout Asia and Africa, and is considered the world’s largest mobile survey platform that provides results in real time giving administrators the ability to make data driven decisions. The 200 individuals per country had given their feedback to a 13-question survey that was conducted via SMS messaging in the week of 13 July 2015.
The various participants were asked what resources were the most needed to encourage private enterprises, if they had participated in any programmes to improve their businesses, and what are the biggest businesses challenges that they face.
GeoPoll found that many entrepreneurs cited that they had attended business seminars, ICT training and trade-specific workshops, which had all helped improve their businesses in some way. The respondents all had similar needs in business. They indicated that they are in need of financial resources, for government to support and alleviate challenges they face, as well as better equipped facilities and services.
The findings were used at the 2015 Global Entrepreneur Summit to showcase the common needs of business owners across the world, especially in Africa.
These were their key findings:
In the past year, 44% of the survey respondents participated in programme or activity to improve their business. Respondents have a strong desire to participate in more training resources, and a staggering amount of entrepreneurs want training programmes and entrepreneurship in schools. This came about when asked how government can aid people in starting up businesses. Social media was also found to be the best online tool for supporting business growth.
The respondents’ take what would be beneficial
They were asked what would help most in increasing the number of entrepreneurs in their country, and the responses were unexpectedly divided. It came down to 36% saying “more financial recourse”, while 24% said “better facilities/services” and 23% replied with “government support” being a benefactor.
Increasing youth and women entrepreneurship
Respondents were specifically asked what would be most beneficial to increase youth and women entrepreneurship, and 40% of participants cited that funding is the biggest help the youth and women needed in starting business. Whereas support by government came in at 22% of the votes, access to market information came at 18% and access to high-skilled professionals only at 16% of the votes.
President of the Global Entrepreneurship Network, Jonathan Ortmans said, “As policymakers explore smart and sophisticated steps to develop healthy entrepreneurial ecosystems across the African continent, the voice of the entrepreneur must remain in the foreground.” And proudly added, “Being able to hear directly from the entrepreneurs helps guide our conversations at the Summit and beyond.”
Source: The Cradle
