Assessing the Impact of Entrepreneurship Training On Business Performance: A Case Study of Small-Scale Trained Entrepreneurs in Maseru

Author(s)

Dr. Francis Okyere , Tankiso Makara ,

Download Full PDF Pages: 115-124 | Views: 856 | Downloads: 259 | DOI: 10.5281/zenodo.3496818

Volume 8 - June 2019 (06)

Abstract

Empirical evidence suggests that a large number of factors contribute to small firm success. Entrepreneurship Education/Training (ET) has been cited as one of the most important factors that impact business performance. In Lesotho, there are several organisations that offer ET to potential and established entrepreneurs. However, empirical research of such training on the impact of business success is limited. The purpose of this study was to examine the influence of ET on the business performance of small-scale entrepreneurs in Maseru, the capital of Lesotho. The study rested in the interpretivist epistemology in the subjective ontology of conducting social research. Therefore, a qualitative research approach was employed with an open-ended questionnaire to collect data from 20 entrepreneurs in Maseru. One key finding that emerged in the empirical study was that ET has a positive impact on firm performance. On the other hand, the study participants identified a lack of financial assistance, high rent, and lack of access to international markets among others as factors constraining their efforts. Based on these findings, the study makes recommendations to policymakers, ET providers and donor agencies on what support mechanisms to put in place to support entrepreneurs so as to ensure sustainable economic growth

Keywords

entrepreneurship, entrepreneur, entrepreneurship training, business performance

References

                         i.            Afrane, S. (2002). Impact Assessment of Microfinance Interventions in Ghana and South Africa. Journal of Microfinance. 4(1), pp. 37-58.

      ii.            Arogundade, B. B. (2011). Entrepreneurship Education: An Imperative for Sustainable Development in Nigeria. Journal of Emerging Trends in Educational Research and Policy Studies, 2(1), pp. 26-29.  

    iii.            Bacha Entrepreneurship Training Project (BETP). (2017). Available online at:               https://www.standardlesothobank.co.ls/lesotho/About-Us/news/LRA,-BEDCO-and-Standard-Lesotho-Bank-join-hands-to-address-youth-unemployment (Date assessed: 31 August 2018).

     iv.            Bradford, L. (2007). Empirical studies on entrepreneurship training. Business Education Journal, 1(2), pp. 6-12.

       v.            Bula, H. O. (2012). Evolution and Theories of Entrepreneurship: A Critical Review on the Kenyan Perspective. International Journal of Business and Commerce, 1(11), pp. 81-96.

     vi.            Chiang, C. & Yan, H. (2011). Entrepreneurship, competitive advantage and the growth of the firm. Journal of Small Business and Entrepreneurship, 24, 18-20.

   vii.            Cooper, D. R. and Schindler, P. S. (2008). Business Research Methods. 15th Edition. London: McGraw-Hill.

 viii.            Education Centre Online. (2013). Entrepreneurship Training. Available at:http://www.educationcentreonline.org/entrepreneur-training.htm (Date accessed: 10 September 2017).

     ix.            Etikan, I. Musa, S. A and Alkassim, R. S. (2016). Comparison of Convenience Sampling and Purposive Sampling. American Journal of Theoretical and Applied Statistics, 5 (1), pp. 1-4.

       x.            European Commission. (2008). Entrepreneurship in Higher Education especially within Non-   Business Studies. European Commission, Brussels.

     xi.            Henry, C, Hill, F. and Leitch, C. (2005). Entrepreneurship Education and Training: Ashgate. Aldershot.

   xii.            Herbert, R. F. and Link, A. N. A. 2011. History of Entrepreneurship. International Journal of Business and Social Science, 2(9), pp. 241-252.

 xiii.            Kithae, P. P. Maganjo, R. and Kavinda, L. (2013). Impact of Entrepreneurship Training on Performance of Micro and Small Enterprises (MSES) in Kenya: A Case of Embu Municipality. International Journal of Business and Management Review, 1(2), pp. 1-17.

 xiv.            Kaijage, M. (2013). Empirical studies on entrepreneurship training. Business Education Journal, 1(2), 6-20.

   xv.            Koontz, H. and Donnell, C. (1993). Introduction to Management. New York: McGraw-Hill Inc.

 xvi.            Kutzhanova, N, Lyons, T.S. & Lichtenstein, G.A. (2009). Skill-Based Development of Entrepreneurs and the role of personal peer Group Coaching in Enterprise Development. Economic Development Quarterly, 20, 10-15.

xvii.            Lucky, E. O. and Olusegun, A. I. 2012. Is Small and Medium Enterprises (SMEs) an Entrepreneurship? International Journal of Academic Research in Business and Social Sciences, 2(9), pp. 241-252.

xviii.   Marimala, M. (2006). Entrepreneurship Education and training in India: An assessment of SME training needed against current practices. India institute of management, Bangalore-India. A paper presented in AC 21 International Forum: Global Education: University of Warwick.

 xix.            Mauchi, M, Mutengezanwa, A. & Damiyano, F. (2014). Challenges faced by entrepreneurs. International Journal of Research in Business Studies and Management, 3(3), 3-13.

   xx.            Mgeni, T. O. (2015). Impact of Entrepreneurial Leadership Style on Business Performance of SMEs in Tanzania. Entrepreneurship and Organizational Management, 2(1), pp. 1-9.

 xxi.            National Endowment for Science, Technology and the Art. (2008). Barriers Developing Entrepreneurial Graduates: NESTA (UK).

xxii.            Nieman, G. Hough, J. and Nieuwenhuizen, C. (2003). Entrepreneurship: A South African Perspective. Pretoria: Van Schaik Publishers.

xxiii.            Nwangwu, I. O. (2007). Higher education for self-reliance: An imperative for the Nigerian economy. NEAP Publication, pp. 1-8.

xxiv.            Okyere, F. (2016). Comparative analysis of environmental issues as a social responsibility concern of small businesses in two African countries: South Africa and Lesotho. Doctoral dissertation. Central University of Technology, Bloemfontein, South Africa.

xxv.            Okyere, F. (2017). Relationship between Entrepreneurship and Small, Medium and Micro Enterprises (SMMEs): A Literature Review. The International Journal of Business & Management, 5(9), pp. 159-163.

xxvi.            Okyere, F. (2017). The Impact of Leadership Styles of Small Business Owners/Managers on Firm Performance. The International Journal of Business & Management, 5(8), pp. 191-199.

xxvii.            Olomi, D. (2006). Unleashing Entrepreneurial potentials of the poor in Tanzania: Prospects, Challenges and way forward: A paper presented to the high level commission on the legal empowerment of the poor. Arusha, Tanzania.

xxviii.            Palys, T. (2008). Purposive sampling. In L. M. Given (Ed.). The Sage Encyclopedia of Qualitative Research Methods, 2, pp. 697-698.

xxix.            Panda, N. M. 2011. What Brings Entrepreneurial Success in a Developing Region? Journal of Entrepreneurship, 9(2), pp. 199-212.

xxx.            Pahuja, A. and Sanjeev, S. (2015). Introduction to Entrepreneurship. Available online at:   www.researchgate.net/publication/301659818 (Date accessed: 10 September 2018).

xxxi.            Peneder, M. (2009). The Meaning of Entrepreneurship: A Modular Concept. WIFO Working Papers, No. 335, pp. 1-31.

xxxii.            Richard, P. J. Devinney, T. M. Yip, G. S. and Johnson, G. (2009). Measuring organizational performance: towards methodological best practice. Journal of Management, 35(3), pp. 718-804.

xxxiii.            Rusu, S., Isaac, F., Cureteanu, R. and Csorba, L. 2012. Entrepreneurship and Entrepreneur: A Review of Literature Concepts. African Journal of Business Management, 6(10), pp. 3570-3575.

xxxiv.            Scase, R. (2007). Entrepreneurship and Proprietorship in Transition. Policy implications for the Small and Medium size Enterprise Sector. Helsinki: United Nations University World.

xxxv.            Stripeikis, O. (2008). Entrepreneurship formation in Lithuanian small and medium-sized firms. Doctoral Dissertation. Vytautas Magnus University, Kansas.

xxxvi.            Thurik, R. and Weenekers, S. (2006). A note on Entrepreneurship, Small Business and Economic Growth, Centre for advanced Small Business Economics. ERIM Report. Erasus University, Rotterdam: The Netherlands.

xxxvii.            Venkatraman, N. and Ramanujam, V. (1986). Measurement of business performance in the strategy research: a comparison of approaches. Academy of Management, 35(3), pp. 718-804.

xxxviii.            Walker, E. and Brown, A. (2004). What Success Factors are Important to Small Business Owners? International Small Business Journal, 22(6), pp. 577-594.

xxxix.            World Data Atlas. (2017). Lesotho – Unemployment rate. Available online at:        https://knoema.com/atlas/Lesotho/Unemployment-rate (Date accessed: 8 September 2018).

     xl.            Zikmund, W. G. and Babin, B. J. (2010). Essentials of Marketing Research, 4th Edition. Cambridge: Cengage Learning.

   xli.            Zuperka, A. (2011). Development of students’ entrepreneurship education in Lithuania.   Management Theory and Studies for Rural Business and Infrastructure Development, 2(26), 279-288.

Cite this Article: