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oa Journal of Contemporary Management - Examining the effectiveness of entrepreneurship policy implementation in Malawi

Volume 16 Number 2
  • ISSN : 1815-7440

 

Abstract

A total of 92% of the Malawian population is involved in the small and medium-sized enterprise sector in the form of self-employment, family or individual businesses. The article aims to examine the effectiveness of the entrepreneurship policy in promoting entrepreneurship education and training and small business development in Malawi. The specific objectives are to identify the gaps in the entrepreneurship policy currently being used in Malawi and to assess the effectiveness of the implementation of the entrepreneurship policy in the country. The study used the quantitative research methodology using a survey questionnaire. A total of two hundred and sixty participants were purposively sampled for the study. A response rate of 59% was achieved in the study. In total 75% of the respondents indicated that they had been involved in an entrepreneurial activity while 64% of the respondents showed that their organisations offered entrepreneurship or other related services. The study results revealed that 20% of the funds used in small and medium-sized enterprises (SMEs) were internally generated and 13% were loans from a government agency among others. A total of 58% of the respondents indicated that the most common business support services available to entrepreneurs in Malawi is Entrepreneurship Development while the remainder indicated that entrepreneurs in the country have access to Business Counselling and Mentoring. The factors impeding the development of SMEs in Malawi were indicated as inadequate availability of debt financing, inadequate availability of venture capital, inadequate availability of qualified labour, among others. The factors influencing the development of entrepreneurship in Malawi were indicated as availability of capital, labour and raw materials, bad experience of owners, bribery and corruption, education background, environmental conditions, fear of failure, friends and government support/policies.

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/content/journal/10520/EJC-18ca767777
2019-07-01
2020-02-20

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