Abstract
Using data collected from Ghanaians living in the United Kingdom, and the USA; this research examined the motives that drive the performance of transnational entrepreneurship, the mobility involves and why such businesses normally fail. The study was conducted in 2013-2017; with a population size of 120 Ghanaians living in the UK and the USA. The objective was to find out what really drives the performance of these entrepreneurs who operate in a condition where costs may be known but rewards are uncertain, yet they are motivated. The research employed both deductive and exploratory approach and the methods were both primary and secondary. The study focused on small-scale entrepreneurs who run their businesses through personal social connections.The general results show that though individuals motives for seeking self-employment are diverse and numerous; and differ on certain points. However, there are some basic motives common to all and that is majority of the respondents with the average score of 63.3% supported that Economic Mobility, Financial Independence, Success Perspective, and Social Factors, are the most driven factors for the engagement in transnational entrepreneurship. We discovered that in a small-scale business, where most often do not have the needed managerial capabilities to engage in corporation, trust can be used to avoid loses that might come as a result of someone’s misconduct. We also discovered that the successes of these entrepreneurs are based on attitudinal; the degree of embededdness in the home country; personal and the institutional regulations of the destination countries. The results found that Ghana Transnational Entrepreneurs (GTE) are more into Merchandising Business with (59.21%) as compared to Service Business (34.21%) and Manufacturing Business (10.53%); and such businesses are managed and run mostly by their families (59.21%). Ashanti Region of Ghana was spotted to be more involved in doing business with 52.63%. Int. J. Soc. Sc. Manage. Vol. 4, Issue-3: 210-222
Highlights
Ghana is considered one of the more stable countries in West Africa since its transition to multi-party democracy in 1992
The results found that Ghana Transnational Entrepreneurs (GTE) are more into Merchandising Business with (59.21%) as compared to Service Business (34.21%) and Manufacturing Business (10.53%); and such businesses are managed and run mostly by their families (59.21%)
The study assessed the motives that drive the performance of transnational entrepreneurship among Ghanaians abroad
Summary
Ghana is considered one of the more stable countries in West Africa since its transition to multi-party democracy in 1992. Gold, Bauxite, Timber, and more recently Oil form the cornerstone of Ghana’s economy and have helped fuel an economic growth. Ghana is the 9th largest economy in Africa and 2nd largest in West Africa, with 27 million populations (IndexMundi, 2016). A country’s economic development, employment, innovation and productivity are driven by entrepreneurial activities. Hisrich (2005) supported that economic progress of a country is significantly advanced by pragmatic individuals who are innovative with entrepreneurial skills, and willing to take risk in order to exploit opportunities that may be uncertain. Daniel and Mead (1998) argued that such enterprises play a major role
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