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Rethinking Support for Female-Led Micro, Small- and Medium-Scale Informal Businesses in Ghana
Micro, small- and medium-scale enterprises (MSMEs) are very relevant actors in economies Micro, small- and medium-scale enterprises (MSMEs) are very relevant actors in economies globally. These businesses cut across all sectors of the economy and significantly contribute towards human resource development, employment and income generation, economic growth, poverty reduction, development of indigenous entrepreneurship, and youth and female employment, in developed and developing countries (OECD, 2017; Eggers, 2020; Turkson, Amissah & Gyeko-Darko, 2020). In Ghana, MSMEs contribute about 70% of Gross Domestic Product. They also account for about 90% of businesses and 80% of employment within the country’s informal sector (Oppong, Owiredu & Churchill, 2014; GSS, 2015). More importantly, the MSME landscape in the informal sector is dominated by women (Minta & Darkwah, 2018). These women are making significant contributions to their economies in terms of job creation and economic growth (Ahmad & Arif, 2015). The 2018/2019 Global Entrepreneurship Monitor (GEM) report estimates that about 231 million women were starting or running businesses in 59 economies worldwide. The 2018 Mastercard Index of Women’s Entrepreneurship report also indicated that about 46.4% of businesses in Ghana are owned by women.