Abstract
The impact of Ghana's national culture on its latent entrepreneurial activities are in frequently studied on - as compare to social, economic and financial influences. The current studyexamined the impact of Ghana's national culture on its latent entrepreneurs amongSmall and Medium Sized Enterprises (SMEs) from the view point of Social Rule System theory. The study employeda simple random sampling technique ineliciting251 respondents from the Business city of Kumasi in Ghana.It employedStructural Equation Modelling statistical technique (SEM) using Amos software version 22 in analysing the data. The results showed that, masculine and high power distance cultures in Ghana have significant positive effects on peoples' intention to become entrepreneurs. High uncertainty avoidance and collective cultures had positive and insignificant effects on latent entrepreneurs. Thestudy presents significant contribution to the existing academic literature on national culture and latent entrepreneurial activities. Italso brings additional step towards a fundamental means of empowering people into SMEs in any developing country. Recommendationsare also providedfor useful suggestionstogovernment and policy makers in Africa towards the improvement of Small and Medium Sized Enterprises.
Highlights
The growth of small and medium enterprises has become an importantcircumstance in supportingeconomic development in Africa
It again points to Burns &Deitz (1992) analysis on the social rule system - where social actions are coordinated by socially created systems of regulations in societies.Hypothesis (H2) posited a significant positive relationship between High power distance culture and people intention to become entrepreneurs
Social rule system theory was provided as the theoretical grounding for the framework that was conceptualised for the study
Summary
The growth of small and medium enterprises has become an importantcircumstance in supportingeconomic development in Africa. Acs et al (2008) posited that, the recognition of entrepreneurship towards the development of nations has been broadly acknowledged from an economic perspective in the various empirical literature.Research continues to encourage the study of entrepreneurshipprimarily in small enterprises (Klotz, Hmieleski, Bradley & Busenitz, 2014). Cultural distinctions between countries have become significanton nations’ level of economic and entrepreneurial growth (GEM, 2004).According to Kreiser et al (2010) and Fatoki & Chigonda (2011) cultural attitudes have significant impact on the entrepreneurial activities of a population, a country, a region or an ethnic group. Cultural differentiation has been studied on and had proven to have had a significant control on both latent and actual entrepreneurship (Blanchflower & Oswald, 2000; Audretsch et al, 2007)
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