Entrepreneurship Development

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122 African Development Report 2011Chapter 6 :ENTREPRENEURSHIP DEVELOPMENTEntrepreneurship supports economic growth and development through marketinnovations and there is a bi-directional relationship between entrepreneurshipand economic growth and development. Key constraints include the cost ofstarting a business and minimum paid-in capital requirements, with womenentrepreneurs facing additional hurdles. Moreover, most of Africa’s entrepreneursare “necessity driven” rather than “opportunity driven”. RMCs should promotethe development of “high-growth entrepreneurship” and strengthen the qualityof the entrepreneurial environment for firms. By doing so, they would support acultural and regulatory environment that encourages people to develop originalideas, recruit the right expertise, and grow.IntroductionAfrica’s private sector suffers from lowinnovation and productivity, which contributesto the low level of economic development inmany RMCs110. Entrepreneurship supportseconomic growth and development throughthe introduction of innovations that add valueto the economy. Innovation can take severalforms, such as the generation of new products orservices, new processes or ways of using existingfactors of production more efficiently, and/orthe implementation of technologies previouslydeveloped by others but not yet introduced in thelocal market111.At first glance, Africa appears to be ripe withentrepreneurs given that 90 percent of the totalnumber of businesses are micro and smallenterprises, the bulk of which are in the informalsector. The reality, however, is that theseenterprises are generally run by “necessity-drivenentrepreneurs” or individuals who start firmsbecause they have no other viable opportunities forgainful employment. They rely on these activitiesin order to survive or to supplement their in-kindearnings from subsistence farming.What Africa needs more are “opportunity-drivenentrepreneurs” or individuals who innovate in orderto take full advantage of market opportunities. WhileRMCs need to support appropriate education andtraining for the continent’s business managers andprofessionals (as discussed in Chapter 5), they alsoneed to develop opportunity-driven entrepreneurs.At the same time, governments need to facilitatenecessity-driven entrepreneurs from the informalsector to become productive workers in the formaleconomy.Defining Entrepreneurship andEntrepreneurship DevelopmentEntrepreneurship can be defined in many ways,emphasizing the different attributes, contexts,motivations, roles, and contributions of theseindividuals vis-à-vis society (Box 6.1). Theseminal definition of an entrepreneur is attributedto Schumpeter, who argues that innovation isdemonstrated in one of five different ways: newproducts, new production processes, new markets,new inputs, and re-organization of an industry112.Schumpeter’s entrepreneur causes disruptions inthe marketplace through the process of “creativedestruction”.110 World Economic Forum and others 2011; Gebreeyesus 2009; Onyeiwu 2011; and Yoshino 2011.111 Stam and van Stel 2009.112 Schumpeter 1951.

Chapter 6 : Entrepreneurship Development123Box 6.1: A Typology of EntrepreneurshipNecessity-Driven versus Innovation/Opportunity-Driven EntrepreneursNecessity entrepreneurs start a firm because there are no other viable opportunities forgainful employment. They generally use old, existing, marginally productive technologiesand processes, and do not have innovative ideas or high growth prospects. They are nottrue entrepreneurs.Opportunity entrepreneurs pursue profit and independence. They innovate and have stronggrowth motivations, including expanding beyond local markets, products, and services.Unproductive/Destructive EntrepreneursNot all entrepreneurs are welfare-improving. Unproductive entrepreneurship ischaracterized by activities that redistribute wealth from one part of society to theentrepreneur. These are rent seeking activities. Destructive entrepreneurship diminishesthe welfare of the society as a whole and includes criminal activities such as smuggling,drug trafficking, prostitution, and illegal mining, trading, and poaching.Social and Corporate EntrepreneurshipThere are two other categories of entrepreneurial activity in addition to starting andgrowing a business – social and corporate entrepreneurship. Social entrepreneurship isembedded in a social purpose. Nonprofit organizations of all forms, including governmentagencies, have applied entrepreneurial activity to successfully compete for clients andscarce resources to solve social problems. Corporate entrepreneurship or intrapreneurship,as distinct from commercial entrepreneurship, is entrepreneurial activity within thecontext of a large firm. Many large firms want to capture the excitement, innovation, andrenewal found in entrepreneurial firms. They do this by creating an environment whereentrepreneurship can flourish.Source: Global Entrepreneurship Monitor (GEM), several years; Austin,Stevenson and Wei-Skillern 2006.Kirzner’s entrepreneur is a person who perceivesprofit opportunities that are not apparent to othersand engages in an arbitrage to affect the market’sequilibrium with a view to gaining a profit113.While these two concepts differ with regard to theentrepreneur’s effect on market equilibrium, theoutcome is the same: knowledge is both harnessedand created in the pursuit of profit.Leibenstein focuses on entrepreneurs indeveloping countries, where markets are not welldefined nor smoothly operated and the productionfunction is not known114. In such cases, he sees theentrepreneur as having four principal roles: a gapfiller, an input-completer, a connector of differentmarkets, and a creator of firms. The developingcountry entrepreneur must therefore fill in for113 Kirzner 1997.114 Leibenstein 1968.market inefficiencies, find inputs for production,and connect markets.Each of the above definitions considers theentrepreneur to be a creative and alert person whosurveys the economic horizon and uses knowledgeand information to pursue profit. They alsoinclude entrepreneurial activity within existingfirms (i.e., intrapreneurship) and entrepreneurialactivity in non-profit institutions (i.e. socialentrepreneurship). Human capital (i.e., knowledgeand training) and access to information and marketsare preconditions for the entrepreneur’s success.Although in some cases the entrepreneur may alsomanage the firm, in most cases he is the innovativespark that creates a market opportunity that otherscan then take forward.

124 African Development Report 2011Entrepreneurship development is the process ofenhancing entrepreneurial skills and knowledgethrough structured training and institutionbuilding programs. It aims to enlarge the base ofentrepreneurs to speed up the pace at which newventures are created. The focus is on the individualwho wishes to start or expand a business, withconcentration on growth potential and innovation.Entrepreneurship in AfricaA major constraint to assessing entrepreneurshipin Africa is the lack of comprehensive data on thesize and breadth of entrepreneurial activities. Thereare many gaps in the existing data sets that attemptto measure entrepreneurship and innovation. TheGlobal Entrepreneurship Monitor is a perceptionsbased survey which covers attitudes and activitiesof entrepreneurs (Box 6.2). However, it is highlysubjective and only covers 6-7 countries per year.The WBES has broader country coverage andits variables are more objective. However, thevariables used in the survey change from year toyear, which makes trend analyses and inter-temporalcomparisons problematic. While both surveys givean idea of the types of entrepreneurship in RMCs(i.e., necessity-driven versus opportunity-driven),neither quantify the number of entrepreneurs onthe continent.Box 6.2: The Global Entrepreneurship MonitorThe Global Entrepreneurship Monitor (GEM) was established in 1999 and is a researchprogram centered on an annual harmonized estimation of entrepreneurial activity incountries around the world. GEM currently conducts surveys of adults (ages 18 to 64)in 59 countries in both OECD and non-OECD countries in order to better describe the“world’s entrepreneurs and their role in economic development.” Specifically, the surveyscapture country differences in entrepreneurial attitudes, activity at various stages of theentrepreneurial process, and aspirations. At least 2,000 adults per country are interviewedusing random sampling. The individual country survey results are then harmonized into amaster dataset.GEM distinguishes between opportunity-driven and necessity-driven entrepreneurship.Questions covered in the survey include whether the respondents believe they have theknowledge and skills needed to start a business, perceive good business opportunitiesin their country, see entrepreneurship as a good career choice, and perceive high statusassociated with successful entrepreneurs. GEM also measures the rate of nascententrepreneurship (i.e., the percentage of survey responders who are currently setting upa business for which they will have (partial) ownership but have not begun to make anykind of payments, such as salaries, wages, etc.), and young entrepreneurship, (i.e., thepercentage of respondents who own and manage a business that pays salaries and wagesand has been in operation for more than 3 months, but less than 42 months). These twotypes of entrepreneurship are combined to give the rate of total early-stage entrepreneurialactivity (TEA) in all surveyed countries.GEM has its limitations in measuring entrepreneurship in Africa. First, its definitionof entrepreneurship excludes the concept of innovation. Opportunity entrepreneurshipcovers only whether the firm’s owner started the business because of a perceived businessopportunity and/or because he wanted to be financially independent. Second, since it isa survey, the answers are subjective and there is no way to verify the responses. Lastly,each year, the GEM only surveys 6 or 7 out of the 54 African countries each year, and thecountries surveyed change from year to year.Source: Global Entrepreneurship Monitor 2011.

Chapter 6 : Entrepreneurship DevelopmentAn important indicator for gauging new firmcreation is entry density – the number of newlyregistered limited liability companies per 1,000working-age people (those ages 15–64). As Figure6.1 shows, between 2004 and 2009, there waslarge variation in entry density, across both regionsand income levels. On average, about four newlimited liability firms registered annually per 1,000working-age people in industrialized countries;between one and three in Latin America and theCaribbean and Europe and Central Asia; and less125than one new firm registered in other regions ofthe world. Sub-Saharan Africa has the lowestentry density of 0.58. The new entry densitiestranslate roughly into national averages of 55,000newly registered limited liability firms a yearamong industrialized countries and about 35,000in Latin America, 14,000 in South Asia, and 9,000in Sub-Saharan Africa114. Figure 6.2 indicates thefluctuation in new firm entry density for twentyAfrican countries with consistent data for theperiod, 2004 to 2009.Figure 6.1: New Firm Entry Density by Region, 2004-2009Source: Global Entrepreneurship Monitor 2011.Recent evidence on the ground, however, indicatesthat entrepreneurship is increasing in Africa,powered in part by the influx of returning skilledworkers.Just as waves of expats returned to China andIndia in the 1990s to start businesses that in turnattracted more outside talent and capital, there arenow signs that an entrepreneurial African diasporawill help transform the continent. Some reportsindicate that about 10,000 skilled professionalsreturned to Nigeria in 2010 while the numberof educated Angolans seeking jobs back homerose 10-fold, to 1,000, in the last five years. For114 Klapper and Love 2010.example, Bartholomew Nnaji gave up a tenuredprofessorship at the University of Pittsburgh tomove back to Nigeria in 2005 to run GeometricPower, the first private Power Company in SubSaharan Africa. The company’s US 400 million,188-megawatt power plant will come on streamlate 2011 as the sole provider of electricity for Aba,a city of 2 million in southeast Nigeria. In the samevein, Afam Onyema, a 30-year-old graduate ofHarvard and Stanford Law, turned down six-figureoffers in corporate law to build and run a US 50 million state-of-the-art private hospital witha charitable component for the poor in southeastNigeria.

126 African Development Report 2011Figure 6.2: Average New Entry Density for 20 African Countries, 2004-2009Source: World Bank Entrepreneurship Surveys data.The Nigerian Aliko Dangote is a good exampleof a successful entrepreneur on the continent. Hetransformed a small trading farm founded in 1977into a billion dollar conglomerate present in atleast 5 African countries. The Dangote Group isnow one of the main suppliers of sugar and cementin West Africa. One of the most successful Africanhi-tech start-up entrepreneurs is Mo Ibrahim. Afterfew years of experience in the telecommunicationsindustry, Mo Ibrahim created Celtel, which laterbecame a 24 million mobile phone subscriberscompany, sold afterwards for US 3.4 billion.Entrepreneurship and EconomicGrowthThere is a bi-directional relationship nt. Some maintain that entrepreneurshipleads to economic growth, while others believethat economic development leads to moreentrepreneurship115.Entrepreneurship’s Impact on EconomicDevelopmentIn addition to introducing innovations to themarket, entrepreneurs also create opportunitiesfor others to profit from their discoveries andinnovations. This continuous process of innovationengenders technological change, which contributeto economic growth. The presence of entrepreneursvaries across countries, and this variation in partexplains differences in economic growth rates116.However, empirical evidence supporting theclaim that entrepreneurship leads to economicgrowth and development is mixed. This is notsurprising because of the various definitionsused for entrepreneurship and the many contextsin which entrepreneurship occurs. Variationsin entrepreneurship rates across countries havebeen found to account for a third to a half of theeconomic growth rates in some economies117.These studies conclude that entrepreneurship intransition and high-income countries leads to strongeconomic growth. But other studies maintain that115 Kilele 2011.116 Baumol 1968.117 Reynolds and others 1999; and Zacharakis and others 2000.

Chapter 6 : Entrepreneurship Developmententrepreneurship does not have any effect in lowincome countries, such as in Africa, and that therole of entrepreneurs in developing countries isdifferent from the role of their role in developedeconomies118. While entrepreneurs in developedcountries are focused on cutting edge innovationand research and development, entrepreneursin developing countries are largely engaged inproducing goods for the local market that availablein the world market place, but at a lower cost119.For Africa, it can be argued that entrepreneurshiphas not played a key role in growth to date. As127indicated in Chapter 1, the high growth ratesthat Africa has recently experienced are largelythe result of structural reforms at the macrolevel and not productivity-driven at the microlevel. Moreover, as underscored in the 2011African Competitiveness Report, there are onlyfour African economies (i.e., Kenya, Senegal,South Africa, and Tunisia) that rank high on theinnovation index, comparing favorably with Italyand India (Figure 6.3)120. African economies arestill not well-diversified, their share of world traderemains low, and they suffer from low skills andcapacity to absorb new technologies (Box 6.3)121.Figure 6.3: Innovation in Africa (Scale 1-7)Source: Data from World Economic Forum 2011.118 Stam and van Stel 2009.119 Rodrik 2007.120 World Economic Forum and others 2011. The African Competitiveness Report measures innovation differently fromhow we have described it here. Its innovation index includes measures of capacity for innovation, quality of scientificresearch institutions, company spending on R&D, university-industry collaboration in R&D, government procurement ofadvanced technology products, availability of scientists and engineers, utility patents, and intellectual property protection.121 World Economic Forum and others 2011.

128 African Development Report 2011Box 6.3: Global Competitiveness Index and Innovation in AfricaAfrica gets low scores in the GCI innovation pillar of competitiveness (12th pillar)compared to other regions. Africa and its sub regions lag behind in the areas of companyspending on R&D, availability of scientists and engineers (except for North Africa),university-industry collaboration in R&D, and the quality of scientific research andinstitutions. These have implications for PSD and competitiveness of African economies.GCI Scores on Innovation in Africa and Other Regions (Scale 1-7)Region/ CountryAfricaCompany Availability ofSpendingScientistson R & D & EngineersGovernementProcurementof AdvancedTechnologyProductsUniversity - IndustryCollaborationin R & DQuality ofScientifiResearch Institution2,93,73,53,33,2North Africa2,84,43,33,03,0East Africa2,93,63,53,43,2Southern Africa2,93,23,43,53,3West 43,94,34,2East Asia3,94,64,24,44,2South Asia3,14,13,53,33,4Latin America3,13,83,63,73,6GCI Scores on Innovation Within African (Scale 1-7)Company Availability ofSpendingScientistson R & D & EngineersCategoryGovernementProcurementof AdvancedTechnologyProductsUniversity - IndustryCollaborationin R & DQuality ofScientifiResearch InstitutionADB Countries2,93,93,43,33,3ADF Countries2,93,73,53,33,2Fragile States2,53,62,92,82,9Coastal ,0Oil Expoters2,74,43,12,83,0Oil Importers2,93,63,63,43,3LockedSource: Data from World Economic Forum 2011.

Chapter 6 : Entrepreneurship DevelopmentEconomic Development’s Impact onEntrepreneurshipIn addition to entrepreneurship affecting economicgrowth and development, entrepreneurship ratesvary from country to country depending on theirlevel of economic development122. Studies reveal129that there is a U-shaped relationship betweenthese two variables (Figure 6.4). At low and highlevels of economic development (as measuredby GDP per capita), there are high rates of totalearly-stage entrepreneurial activity (TEA). TEAdeclines, however, at the middle level of economicdevelopment123.Figure 6.4: Total Early-Stage Entrepreneurial Activity and Per Capita GDP, 2010Note: Bolivia and Vanwatu are not showed in this figure, because their TEA rates are outsiders.Source: Global Entrepreneurship Monitor (GEM) Adult Population Survey (APS)and MF World Economic Outlook Database.It is important to note, however, that the TEAis composed of both necessity and opportunityentrepreneurship. As the level of economicdevelopment increases, the prevalence ofopportunity or innovation-driven entrepreneurshiprises (Figure 6.5)124. In contrast, the rate ofnecessity entrepreneurship declines as the level ofeconomic development increases (Figure 6.6)125.This explains why there is a U-shaped relationshipbetween the entrepreneurship rates and the level ofeconomic development in a country126.122 Wennekers and Thurik 1999; and Wennekers and others 2005.123 The correlation coefficient is -0.49, indicating a moderate, negative relationship between the TEA rate and the level ofeconomic development.124 The correlation coefficient is 0.582, which suggests a moderate and positive association between the amount of opportunity entrepreneurship and the level of economic development.125 The correlation coefficient is -0.62, which implies that there is a negative relationship between the rate of necessity entrepreneurship and the level of economic development.126 Although there is an association between these two variables, determination of causality will require further research andanalysis.

130 African Development Report 2011Figure 6.5: Rate of Opportunity Entrepreneurship versus GDPper Capita for 67 Countries, 2007-09Source: GEM APS and IMF World Economic Outlook Database.Figure 6.6: Rate of Necessity Entrepreneurship versus GDP per Capitafor 67 Countries, 2007-09Source: GEM APS and MF World Economic Outlook Database.

Chapter 6 : Entrepreneurship DevelopmentConstraintsDoing Business indicators on starting a businessshow the impact of the business environmentand barriers to entry on new firm registration inthe countries surveyed. Table 6.1 compares theseconstraints for Africa and the global average duringthe periods, 2004-11 and 2011 only. It shows thatwhile the procedures of starting a business and thelength of time involved are worse in Africa thanthe global average, there are two most importantconstraints to new firm creation in Africa. Thefirst is the cost of starting a new business (allofficial fees and fees for legal and professionalservices involved in incorporating a company,131measured as a percentage of the economy’s GNIper capita). Between 2004 and 2011, Africa’saverage was 194 compared to the global averageof only 72. The second key constraint is the paidin minimum capital requirement as a percentageof income per capita: between 2004 and 2011,this averaged 202 in Africa against only 126globally. In addition, women entrepreneurs faceeven greater constraints. For example, in a recentstudy on Women, Business and the Law, the WorldBank Group surveys of 28 sub-Saharan Africancountries show that all countries except Botswanahave unequal rules for men and women in at leastone of the following areas: accessing institutions,using property, getting a job or dealing with taxes.Table 6.1: Constraints of Starting a New Business2004-2011AfricaWorld2011 OnlyAfricaWorldProcedures(number)Time (days)Cost (% of incomeper capita)Paid-in Min. Capital(% of income per capita)1095443194722021269845361004313863Source: Data from World Bank Doing Business Surveys.Other major constraints to entrepreneurshipdevelopment in Africa include (i) lack of educationand training in entrepreneurial skills; and (ii) lackof access to information particularly relevant toentrepreneurial activities. African firm owners andmanagers need more training concerning how tosuccessfully start and run a business is needed inAfrica.In a managerial training experiment that was heldin industrial clusters in Ghana and Kenya, trainersfound that firm owners in the clusters did notengage in bookkeeping, organizing of their files,marketing, and other crucial business managementactivities127. This lack of business know-howseverely stifles the growth of firms and thereforethe African private sector.127 Yoshino 2011.128 Leibensteign 1968; and Drine and Grach 2010.129 Fadahunsi and Rosa 2002.Access to information is also a problem for firmowners/ managers in Africa and other developingregions128. Potential firm owners may not knowall of the steps required to start a business. Forexample129, they may not know who the properauthorities are. Firm owners and managers inAfrica might also not even be aware that there aregovernment programs that exist to help them to runmore productive businesses.Addressing the Challenges toEntrepreneurial DevelopmentGiven the major constraints identified above, easeof entry matters in Africa hence more firms willenter into countries with lower business start-

132 African Development Report 2011up costs. Better financial support schemes toincrease business credit should be developed whileproviding greater equality of economic rights formen and women entrepreneurs.African countries will also need to promote “highgrowth entrepreneurship”, that is, enterpriseswith average annualized growth in employeesgreater than 20 % per annum, over a three yearperiod, and with more than 10 employees in thebeginning of the observation period. To do this,and depending on where each country is in its pathof general economic development, it might needto strengthen the conditions for and improve thequality of entrepreneurial environment for firms,including the rule of law, labor market flexibility,infrastructure, financial market efficiency andmanagement skills. These conditions are necessaryto attract FDI that will provide employment,technology transfer, exports and tax revenues.Governments need to make a strong commitmentto education at all levels but especially at both thesecondary and tertiary levels. African countriesneed to strengthen their “basic conomicstability, health and primary education) to transitionto culture of innovation and entrepreneurship.Policies focused at firms, should include financialassistance, management assistance, training andreducing regulatory burdens.A cultural and regulatory environment thatencourages people to develop their original ideas,recruit the right expertise, and grow is imperative.Among the policy changes needed, are for focusingSMEs on quality, not just quantity; nurturinghigh-growth entrepreneurship, rather than selfemployment; fostering clusters and ecosystems forgrowth, rather than scattering entrepreneurial seedsat random; recognizing the role of big companiesin entrepreneurship – both as the nucleus ofclusters, and as sources of talent; training peoplefor global growth; ending market fragmentation;and educating potential entrepreneurs out of theirrisk-aversion.In addition, entrepreneurial levels should beimproved through commitment to entrepreneurial130 OECD website.131 Yoshino 2011; and Akçomak 2009.sensitization in order to instill a mindset ofentrepreneurship; governments at all levels shouldsupport innovative and viable business creationswith patent rights so as to limit duplication; andgovernments at various levels should also encourageresearch and technological developments by givingtax exemptions or holidays, where necessary. Itis essential that RMCs, DFIs, universities, andother stakeholders gather data and study Africanentrepreneurs and firm owners. An example ofthis is the OECD’s Entrepreneurship IndicatorsProgramme130. This program is a coordinated effortto gather comparable data on entrepreneurship andbusiness demographics in OECD nations in orderto better formulate policies to nurture entrepreneursand businesses. Once governments know exactlywhat they desire for their private sectors, theycan enact policies to promote them. More workalso needs to be done to refine the use the termentrepreneur for the purpose of policy making.As noted earlier, simply owning or managing afirm does not make a person an entrepreneur andthere is a difference between necessity-driven andopportunity-driven entrepreneurs.ConclusionRMCs need to implement policies to encouragenecessity-entrepreneurs to become productiveworkers in formal sector rather than remainingin marginally productive informal activities.African governments should provide viable workopportunities for their citizens through soundeconomic policies and improving the enablingenvironment for business as has been arguedthroughout this report. In the absence of suchpolicies, necessity-entrepreneurs will continueto establish small, limited productive firms thatcontribute only marginally to economic growth.For opportunity-entrepreneurs, governments,DFIs, and other development partners should putin place systems that provide entrepreneurs withmarket information and facilitate linkages withformal firms, both domestic and international, witha view to increasing their knowledge, innovation,and competitiveness. Promotion of FDI, clusters,incubators would be particular helpful131.

Corporate entrepreneurship or intrapreneurship, as distinct from commercial entrepreneurship, is entrepreneurial activity within the context of a large firm. Many large firms want to capture the excitement, innovation, and renewal found in entrepreneurial firms. They do this by creating an environment where entrepreneurship can flourish.

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