the growth of small scale businesses
Introduction
The dynamic role of small scale business in developing countries has long been recognized (Kayanula and Quartey, 2000). These small scale businesses can serve as engines through which the economic growth and employment objectives of developing countries can be achieved. However, for many years these rural enterprises have failed to grow beyond their micro enterprise nature and sometimes at best their small or medium size (Kayanula and Quartey, 2000). It is believed that private small scale businesses have significant and positive contribution to the growth and development of business sectors in the Ghanaian economy. Small scale businesses sometimes called small enterprises, a small scale enterprise is a business that employs a small number of workers and does not have a high volume of sales. Such enterprises are generally privately owned and operated sole proprietorships, corporations or partnerships. The legal definition of a small-scale enterprise varies by industry and country. This policy paper is based on a study carried out to determine the growth of small scale enterprises, which plays a critical role in entrepreneurship development. While large enterprises employ many individuals, small-scale enterprises employ few or no employee, in Ghana small scale businesses account for nearly half of the gross domestic product. Small-scale enterprises help stimulate local economies by providing local individuals with jobs, as well as products and services to community members. Moreover, such enterprises help diversify and grow their respective industries, as many women and minorities make significant contributions to the small business world. When there is a rise in small scale enterprises, countries may see reforms in basic rights.
Small scale enterprises exist in almost every industry. They can range from mom and pop convenience stores to small manufacturing plants. Additional types of small-scale enterprises can include privately owned restaurants,
The dynamic role of small scale business in developing countries has long been recognized (Kayanula and Quartey, 2000). These small scale businesses can serve as engines through which the economic growth and employment objectives of developing countries can be achieved. However, for many years these rural enterprises have failed to grow beyond their micro enterprise nature and sometimes at best their small or medium size (Kayanula and Quartey, 2000). It is believed that private small scale businesses have significant and positive contribution to the growth and development of business sectors in the Ghanaian economy. Small scale businesses sometimes called small enterprises, a small scale enterprise is a business that employs a small number of workers and does not have a high volume of sales. Such enterprises are generally privately owned and operated sole proprietorships, corporations or partnerships. The legal definition of a small-scale enterprise varies by industry and country. This policy paper is based on a study carried out to determine the growth of small scale enterprises, which plays a critical role in entrepreneurship development. While large enterprises employ many individuals, small-scale enterprises employ few or no employee, in Ghana small scale businesses account for nearly half of the gross domestic product. Small-scale enterprises help stimulate local economies by providing local individuals with jobs, as well as products and services to community members. Moreover, such enterprises help diversify and grow their respective industries, as many women and minorities make significant contributions to the small business world. When there is a rise in small scale enterprises, countries may see reforms in basic rights.
Small scale enterprises exist in almost every industry. They can range from mom and pop convenience stores to small manufacturing plants. Additional types of small-scale enterprises can include privately owned restaurants,