Interaction With Entrepreneurs

DEPARTMENT OF ACCOUNTING EDUCATION
INDIVIDUAL ASSIGNMENT
COURSE TITLE: ENTREPRENEURSHIP AND SMALL BUSINESS
LECTURER: MRS RICHMELL BAABA AMANAMAH
DATE OF SUBMISSION: 30 JUNE 2020
MODE OF SUBMISSION: UEWINNOVATORS@GMAIL.COM
Attach as a word file to the above email
LESSONS: THE PROBLEMS AND CONSTRAINTS BEING FACED BY
ENTREPRENEURS IN GHANA
INSTRUCTION: SELECT THREE ENTREPRENEURS FROM DIFFERENT
INDUSTRIES IN YOUR REGION AND INTERVIEW THEM. THE QUESTIONS
BELOW ARE A GUIDE, FILL THEM ON BEHALF OF THE ENTREPRENEUR AS
THEY PROVIDE YOU WITH ANSWERS TO THE QUESTIONS.
BEFORE YOU START INTERVIEWING THEM LET THEM KNOW THAT THIS
EXERCISE WILL HELP US TO UNDERSTAND HOW THEY STARTED AND
OPERATE THEIR BUSINESS. ASSURE THEM THERE ARE NO RIGHT AND
WRONG ANSWERS TO THESE QUESTIONS, AND THEIR ANSWERS WILL BE
KEPT ENTIRELY CONFIDENTIAL.
THIS EXERCISE WILL ALSO GIVE YOU AN OPPORTUNITY TO LEARN FROM
THE ENTREPRENEURS AND NETWORK
PLEASE MAINTAIN SOCIAL DISTANCE AND WEAR YOUR MASK
A. ENTREPRENEURS BACKGROUND INFORMATION

1. Gender (Please indicate the Gender)
Male /
Female
2. Age (Please tick the range)
18 - 29 /
30 - 39
40 - 49
50 and above
3. Marital Status
Single /
Married
Separated
Widowed
divorced
4. Please indicate the Region
Oti Region
Bono East Region
Ahafo Region
Bono Region
North East Region
Savannah Region
Western North Region
Western Region
Volta Region
Greater Accra Region
Eastern Region
Ashanti Region
Central Region
Northern Region
Upper East Region /
Upper West Region
5. Educational level
Primary
JHS
SHS
Technical
Professional
University level /
No formal education
Other (specify)
6. What were you doing before you began this business?
I was unemployed
I was an employee in another private company
I was an employee in a publicly listed corporation
I was an employee in government institution
I was a student /
Others (Please indicate)
7. Which of the following best describe your reason (s) for being in business?
I want to be my own boss

I will be recognised in society
I can work when and how I want /
I took advantage of an opportunity
I could not secure a job
To secure my future (pension)
I could not find any job that I really like
To continue a family business
I don’t have skills for other kinds of work
Took advantage of government development
scheme
My previous employment was terminated
Others
8. Have you had any training in entrepreneurship? YES/ NO
Formal Informal No training

What type of training? /
How did it help you?
In your opinion is it important?

Why / why not
B. PROFILE OF BUSINESS
Name of the business
Gracious Lord Enterprise

1. Age of the business
Less than 1 year /

1–2 years
3–5 years
6–10 years
More than 10 years
2.
Where did you register your business Bolga

Name the mandatory institutions you were required by law to register with before you RGD
could start your business
Approximately how much did you have to pay to get your business registered?
Please indicate each institution and how much you had to pay
No
Did you face any administrative challenge to register
Please indicate the challenges
3. How was this business started?
As a family owned business

On my own initiative /
It was bought as a running business
Others (please specify)
4. Where did your business operated in when it started?
Business premise
Family house
Rented the premise /
Bought the premise
From my car
Others (specify
5. What about now?
Still operating in the rented premises
6. What triggered the change of your business premise?
7. What type of legal structure did your business originally use? What about now?
Ownership Structure A. Original B. Present

Structure Structure
Single /
ownership/proprietorship
Partnership
Incorporated
Others (specify)
8. Business sector
Agriculture
Wholesale and retail /
Manufacturing
Food and beverage
Restaurants
Transport
Construction
Energy and
construction
oil and gas
Tourism
Banking
Oil and Gas
Art, entertainment,
culture
education
Other (specify)
9. Business plan
Did you prepare a business plan
Why/why not
Did you prepare the business plan yourself?
Why/why not
Is it important to prepare a business plan
Why/why not
If you prepared a business plan what did you use it for?
How did business plan contribute to the success of your
business
10. Business success or failure
Is your business still in operation? Yes

what has contributed to the success of your business
Well I must say it is all bout determination and sacrifice.
Although the returns within the first year of operation has not
been encouraging, I am determine to make it work.
what has contributed to the failure of your business
Is there something you should have done better?
11. Growth Strategy
Do you have a role out plan for the growth of your business Yes
why/why not
Well, yes because it my ability to show all the qualities and experiences
require by every entrepreneur determine whether I stay in the market and
expand my business or fall out due competition.
In what ways has your answer contributed to your business either positively or
negatively
It has helped me maintain my customers.
Volume of sales all rises due increase in the numbers of customers
It has also helped me stay in the market despite the severe competition.
C. BUSINESS PERFORMANCE AND INVESTMENTS
1.
Have you tried to get finance for the venture since you started your business? Yes No
/
2. Where did you try to get the business loan? Were you successful?
Where Successful?
Yes Yes No
commercial bank /
Rural Banks /
Gov’t credit fund /
International project /
Business association /
Church/religious credit facility /
NGO credit facility /
Cooperative /
Money lenders (susu collectors) /
Family/friends /
Other source /
3. What made you successful/failed in securing the loan?
Successful because Failed because

I didn’t apply for any loan yet
4. Would it be acceptable to you if the source of your credit/loan financing say that you can
only get their service if your business CAN
Acceptable for With reservation at Not Acceptable

me this time for me
Meet international product/service /
quality standards
Adopt environment-friendly /
processes/technologies
Adopt occupational safety and health /
standards
Observe law on hours of work /
Observe law on minimum age of /
workers
Practice equal opportunity /
employment
Pay your workers the right amount of /
wages
Keep a workplace free from /
harassment/abuse
Keep open communication in the /
workplace
5. Would it be acceptable for you if your customers say that you can only continue to do
business with them if you CAN

me this time for me
quality standards
standards
workers
employment
wages
harassment/abuse
workplace
6.
Do you have a bank account specifically for your business, one Yes No
that is separate from your personal account? /
D. REGULATORY ISSUES
1. Please indicate whether you agree or disagree with each of the below statement.
strongly Agree Disagree strongly

Agree Disagree
The tax filing requirements of my business are easy to comply /

The payroll regulations of my business are easy to comply /
The employment regulations that relate to my business are /
easy to comply
The environmental regulations that relate to my business are /
reasonable
The health and safety regulations that relate to my business are /
easy to comply
I find it easy to understand regulations relating to my business /

(complexity)
The number of regulations relating to my business are too /
much (quantity)
I stay up to date with new or changing regulatory requirements
(change)
the timing of the regulatory requirements is in harmony with /
my business cycle (timing)
the same information are required by more than one /
government agencies
the cost of the regulations are not in proportion to /
the size of my business there are inequality
E. EMPLOYMENT AND WORKING CONDITIONS
1. What factors influenced your decisions to increase, maintain or decrease the number of
people you employ during the last two years?
2. How have the following factors influenced your decisions regarding the number of people
you employ in your business?
Strongl Positive No Negative Strongly

y Influence influenc Influenc Negative
Positive e e
The markets
The demands of my product or services /
My business premises
The size, type or status of my premises /
Labour costs /
Labour regulations /
Access to finance business /
Access to resources - skills, equipment, technology
Export to other countries /
Taxation /
Government policies and practices /
Interviewer’s note: The term ‘positive influence’ refers to an influence toward employing more workers or
avoiding a reduction of workers; the term ‘negative influence’ refers to an influence toward employing less
workers or not increasing the number of workers.
3. Have you been providing the following benefits to your workers?
Yes No
On-the-job training /
Off the job training /
Employee Handbook /
Written employment contracts /
Productivity incentives /
Salary increases /
Pension Scheme /
Health and accident insurance /
Safer working conditions /
Regular forum with mgt/owner /
Family-friendly programs /
4. How did improvements on the conditions of your worker affect your business performance?
Better No difference Worse

performance performance
On-the-job training
Off the job training
Employee Handbook
Written employment contracts
Health and accident insurance
Pension scheme
Productivity incentives
Salary increases
Safer working conditions
Regular forum with mgt./owner
Family-friendly programs
5.
Have you participated in any management or technical training programs relating Yes No
to your business since the inception of your business?
6. What kind of management or technical training programs relating to your business have you
or any of your employees attended?
Training Programs Attended

Marketing
Purchasing
Stock control
Production
Costing
Record keeping
Financial planning
Preparing business plan
Contract administration
Personnel management
Wage and benefits administration
Occupational safety and health
Employee/labour relations
7. Where do you normally get your training services?
F. BUSINESS GROWTH
1. How have the following factors influenced your business growth?

Positive e e
The markets /
The business premises /
The size, type or status of the premises /
Labour costs /
Systematic growth plan /
Access to resources - skills, equipment, technology /
Taxation /
2. What are your expectations concerning your business over the coming years?
Continue with present business /

Change to another line of business
Leave and take up wage employment
Pass the business onto someone else in my family /
Sell the business
Retire /
Others
3. How do you expect to continue your business over the next two years?
No changes planned
Make new investments in the business /
Expand business operations /
Hire a professional manager to run it for me
Increase the number of workers /
Decrease the number of workers
Improve employment/working conditions of staff /
Expand the range of new products/services /
Reduce the range of new products/services
Don’t know
Others
4. How would you rate the performance of your business over the past years?
Very poor
Poor
Good
Very good /
5. Have any of the factors listed below influenced your business to perform poorly? State the
level to which you agree or disagree
strongly agree disagree strongly

agree disagree
High competition in the industry contributed to the /
poor performance
I don’t have the skills or experience to effectively /
run the business
Too many regulations and restrictions /
No good business networks /
Unsupportive government policies /
No access to market /
6. Have any of the factors listed below influenced your business to perform well? State the

agree disagree
good performance of the business
Low Competition /
Many market opportunities /
Strong business skills and experience /
Few regulations and restrictions /
Good business networks
Supportive government policies and programs /
Easy access to credit /
7. How do you expect your business to perform in the coming years, compared to how it did in
the past years?
Very poorly
Poorly
Well
Very well /
8. Do any of the factors listed below lead you to have a poor expectations of the business?
State the level to which you agree or disagree

agree disagree
The overall environment is not good for business /
There is too much competition /
The government does not support small business /
The costs of running business is high /
Access to finance and credit is difficult /
Access to business support networks is low /
9. Do any of the factors listed below lead you to have a good expectations of the business?

agree disagree
The overall environment is good for business /
The government support small business /
The costs of running business is low /
Access to finance and credit is easy /
Access to business support networks is easy /
There is little competition /
10. Are you familiar with the following enterprise development programs in Ghana?
Yes No
Association of Ghana Industries (AGI) /
National Board for Small Scale Industries (NBSSI) Youth /
Enablis Ghana /
Technoserve /
Ghana Venture Capital Trust Fund /
Empretec Ghana Foundation /
National Entrepreneurship and Innovation Programme (NEIP) /
11. If yes have gain from them
G. Financial literacy
1. Are you involved in taking financial decisions for this business? YES / NO
NOTE TO INTERVIEWER: ‘financial decisions for the business’ may include decisions around taking
a loan for the business, looking for sources of funding, paying taxes, deciding how to solve cash
flow issues, etc.
2. Do you have any of the following accounts for your business?
Current or savings account at a bank Ye

s
Current or savings account that you can operate only on your N
mobile o
3. If you indicated that you have a current or savings account for your business. Can you tell
me which of these statements best represents your situation?
I use the same account for both my household and business finances
I have separate accounts for my households and for my business, but I
am unable to manage households and business finances separately
I have separate accounts for my households and for my business /
4. Please have you heard of the financial product or service, Bank overdraft? YES / NO
5. If yes, can you tell me whether you have used it for the business since its inception?
No because I financed the inception of the business from different source.
6. Please have you heard of the financial product or service, Business loan from a bank? YES /
NO
No
8. Please have you heard of the financial product or service, corporate bonds? YES / NO
No
10. Please have you heard of Micro-credit for the business? YES / NO
Yes
12. Please have you heard of Trade credit? YES / NO

No
14. Please have you heard of Venture capital? YES / NO

16. Please have you heard of Angel investment? YES / NO

18. Please have you heard of Public equity? YES / NO

20. Please have you heard of Leasing or hire purchase? YES / NO

Yes
22. Please have you heard of Factoring? YES / NO

24. Please have you heard of Derivatives (such as options, futures, swaps and others)? YES / NO
26. Please have you heard of Property insurance? YES / NO
Yes
28. Please have you heard of Third-party liability insurance? YES / NO

No
30. Please have you heard of Life insurance for the owner? YES / NO
No
32. Please indicate the reasons if you mentioned that you have not used bank loans to finance
your business since business inception?
The business does not need this type of /

financing, because the business has
sufficient capital, or because
I did not know how to apply

No projects or investments were planned
Application procedures were too complex
The conditions of available loans were not
suitable for my business (e.g. interest rate,
amount of loan, duration)
An application for a loan was rejected
Insufficient collateral or guarantee
I did not think the loan would be approved
Others (specify)
33. Which of the following statements best describes how you made your most recent choice
about a financial product or service for the business?
I considered several options from different /

financial providers before making my
decision
I considered the various options from one
financial provider
I didn’t consider any other options at all
I looked around but there were no other
options to consider
34. Since the business creation, have you asked for help about any of the following matters?
Managing cash flow Yes

Accessing external financing Yes
Evaluating the financial performance of the business Yes
Book-keeping and/or accounting No
Any type of taxes Yes
Assessing the business’ exposure to any type of risk No
35. Please state below the above matters that you sought help for and indicate by them where
you for the help. (Example A business partner, a book-keeper or accountant, a business
financial advisor, Auditing firms, Family or friends etc.)
Managing cash flows An Accountant

Any type of tax A Friend
Accessing external financing An Accountant
Evaluating the financial performance of the Friend
business
36. How do you keep track of the financial records of the business?
In an electronic format (e.g. MS Excel, accounting software etc.) specify /

In paper form (e.g. noting them in a notebook; ledger books, keeping receipts
and invoices) specify
I keep track of financial records in my head
Someone else does it for me (e.g. hire an accountant, relative, my workers)
specify
I do not usually keep track
In another ways (specify)
37. Since the creation of the business, has the business been confronted with situations where
funds were insufficient to cover cash outflows or to pay for expected expenses of the
business (such as paying suppliers, paying taxes, repaying debt etc.)? YES / NO
38. When this happened, what was the main strategy that you put in place to cover immediate
cash needs? Indicate below
Used personal funds

Used funds from family/friends
Reduced the salary for the owner(s)
Reduced costs of operating the business
Took credit from the bank
Asked advance from clients or solicited them to pay amounts due
Asked credit from suppliers
Paid staff, taxes or loan repayments late
Suspended the business temporarily or for good
Other: specify
39. Thinking about your business, would you agree or disagree with the following statements?
Strongly Agree Neutral Disagree Strongly

Agree disagree
I keep secure data and information about the /
business
I decide whether to make an investment on /
the basis of the financial data of the business
I compare the cost of different sources of /
finance for the business
I forecast the profitability of the business /
regularly
I follow changes in economic factors to adjust /
the course of business operations
I regularly check the tax rules that apply to /
my business
I know how to raise funds if my business /
needs them
I use my book-keeping to monitor the /
financial position of the business
It is easy to access the money I need for my /
business
I know how to access government financial /
support for my business
Financial knowledge and attitudes
40. How would you rate your overall knowledge about financial matters?
Very low
Quite low
About average
Quite high
Very high /
Don’t know

Agree disagree
I set long term financial goals for the business /
and strive to achieve them
I am confident to approach banks and /
external investors to obtain business finance
I prefer high-risk and high-yield projects /
rather than low-risk and low-yield projects
I try to influence the state of my business /
finances in the future with my day to day
behaviour
I prefer to follow my instinct (experience) /
rather than to make detailed financial plans
for my business
I am prepared to persevere if business /
success does not materialise immediately
I find it stressful to work for myself /
I like to work for myself and be my own boss /
The business allows me to turn my ideas into /
practice
My business model and organisation takes /
into account environmental, social and
governance factors (ESG)
I prefer to use financial companies that have /
a strong ethical stance
I started this business because I could not /
find a job as an employee
I started a business because it allows me to /
combine work and family in a flexible way
Starting a business was my only option to /
earn some income
42. Imagine that someone puts GHS 100 into a <no fee, tax free> savings account with a
guaranteed interest rate of 2% per year. They don’t make any further payments into this
account and they don’t withdraw any money. How much would be in the account at the
end of the first year, once the interest payment is made?
Answer GHS102.00 will be in the account at the end of the year

Don’t know
Irrelevant answer
43. How much would be in the account at the end of five years?
More than GHS 110

Exactly GHS 110 /
Less than GHS 110
Don’t know
Irrelevant answer
44. Could you tell me which of these best describes a balance sheet?
A financial snapshot, taken at a point in /

time, of the firm's assets and liabilities
A record of profits and losses of the firm in

a certain period of time
A record of the flow of financial resources
over time
None of the above
Don’t know
45. Could you tell me which of these best describes the Return-on-Assets ratio (ROA)?
An indicator of the firm's capital structure
An indicator of the firm's liquidity
An indicator of the firm's performance /
None of the above
Don’t know
46. I would like to know whether you think the following statements are true or false:
Dividends are part of what a business pays to a bank to repay a loan False
When a company obtains equity from an investor it gives the investor part True
of the ownership of the company
If a financial investment offers the chance to make a lot of money it is likely True
that there is also a chance to lose a lot of money
High inflation means that the cost of living is increasing rapidly True
Credit rating is an evaluation of the ability of a prospective borrower to pay False
back their debt
If a farmer grows several types of fruit and vegetables each year, she has a True
lower risk of losing all her crops to disease
47. Have you ever received training on how to manage business finances? YES / NO
48. Have you ever received training on personal money management?
49. How has the cedi depreciation affected your business?
1.
2.
3.
4.
50. Any advice for an upcoming entrepreneur?
1.
2.
3.
4.
5
THANK YOU

H. ENTREPRENEURS BACKGROUND INFORMATION

Male /
Female
18 - 29
30 - 39
40 - 49 /
50 and above
11. Marital Status
Single
Married /
Separated
Widowed
divorced
Oti Region
Bono East Region
Ahafo Region
Bono Region
North East Region
Savannah Region
Western Region
Volta Region
Eastern Region /
Ashanti Region
Central Region
Northern Region
Upper East Region
Upper West Region
Primary
JHS
SHS
Technical
Professional
University level /
No formal education
Other (specify)
I was unemployed
I was a student /

I took advantage of an opportunity /
To secure my future (pension) /
scheme
Others


Why / why not
I. PROFILE OF BUSINESS
Begoro Pharmacy
Less than 1 year

1–2 years /
3–5 years
6–10 years
More than 10 years
13.
Where did you register your business Koforidua

No

Business premise
Family house
Rented the premise
Bought the premise /
From my car
Others (specify
16. What about now?

Structure Structure
Single /
Partnership
Incorporated
Others (specify)
19. Business sector
Agriculture
Manufacturing
Food and beverage
Restaurants
Transport
Construction
Energy and
construction
oil and gas
Tourism
Banking
Oil and Gas
Art, entertainment,
culture
education
Other (specify)
20. Business plan

Why/why not
Why/why not
Why/why not
business

Determination and Perseverance.
And also self confidence
22. Growth Strategy
why/why not
negatively
J. BUSINESS PERFORMANCE AND INVESTMENTS

7.
/
Where Successful?
Yes Yes No
commercial bank /
Rural Banks /
Cooperative /
Family/friends /
Other source /


me this time for me
quality standards
standards
workers
employment
Pay your workers the right amount of /$
wages
harassment/abuse
workplace

me this time for me
quality standards
standards
workers
employment
wages
harassment/abuse
workplace
12.
K. REGULATORY ISSUES

Agree Disagree

easy to comply
reasonable
easy to comply

(complexity)
much (quantity)
(change)
government agencies
L. EMPLOYMENT AND WORKING CONDITIONS

Positive e e
The markets
Labour costs /
Taxation /
Yes No
Employee Handbook /
Salary increases /
Pension Scheme /

On-the-job training
Employee Handbook
Pension scheme
Salary increases
12.

Marketing
Purchasing
Stock control
Production
Costing
Record keeping
Financial planning
From experts.
M. BUSINESS GROWTH

Positive e e
The markets /
Labour costs /
Taxation /

Sell the business
Retire /
Others
No changes planned
Don’t know
Others
Very poor
Poor
Good
Very good /

agree disagree
poor performance
run the business

agree disagree
Low Competition /
the past years?
Very poorly
Poorly
Well
Very well /

agree disagree

agree disagree
Yes No
Enablis Ghana /
Technoserve /
N. Financial literacy
flow issues, etc.

s
mobile o
53. If you indicated that you have a current or savings account for your business. Can you tell
me which of these statements best represents your situation?
NO
No
No
Yes

No




Yes

74. Please have you heard of Derivatives (such as options, futures, swaps and others)? YES / NO

Yes

No
No
82. Please indicate the reasons if you mentioned that you have not used bank loans to finance
your business since business inception?


Others (specify)
83. Which of the following statements best describes how you made your most recent choice
about a financial product or service for the business?

decision
financial provider
options to consider
84. Since the business creation, have you asked for help about any of the following matters?

85. Please state below the above matters that you sought help for and indicate by them where
you for the help. (Example A business partner, a book-keeper or accountant, a business
financial advisor, Auditing firms, Family or friends etc.)

business

specify
87. Since the creation of the business, has the business been confronted with situations where
funds were insufficient to cover cash outflows or to pay for expected expenses of the
88. When this happened, what was the main strategy that you put in place to cover immediate
cash needs? Indicate below
Used personal funds

Other: specify

Agree disagree
business
regularly
my business
needs them
business
Very low
Quite low
About average
Quite high
Very high /
Don’t know

Agree disagree
behaviour
for my business
practice
earn some income

Don’t know
Irrelevant answer
More than GHS 110

Exactly GHS 110 /
Less than GHS 110
Don’t know
Irrelevant answer


over time
None of the above
Don’t know

None of the above
Don’t know
back their debt
98. Have you ever received training on personal money management? Yes
1.
Though not favourable, it has not been so severe.
2.
It also
3.
4.
1.
Belief in yourself thus, self confidence
2.
Work hard
3.
You must also abreast your with knowledge
4.
THANK YOU

O. ENTREPRENEURS BACKGROUND INFORMATION

Male /
Female
18 - 29 /
30 - 39
40 - 49
50 and above
19. Marital Status
Single /
Married
Separated
Widowed
divorced
Oti Region
Bono East Region
Ahafo Region
Bono Region
North East Region
Savannah Region
Western Region
Volta Region
Eastern Region
Ashanti Region
Central Region
Northern Region
Upper East Region /
Upper West Region
Primary
JHS
SHS
Technical
Professional
University level /
No formal education
Other (specify)
I was unemployed
I was a student /

I took advantage of an opportunity
To secure my future (pension)
scheme
Others


Why / why not
P. PROFILE OF BUSINESS
Gracious Lord Enterprise

Less than 1 year /

1–2 years
3–5 years
6–10 years
More than 10 years
24.
Where did you register your business Bolga

No

Business premise
Family house
Rented the premise /
Bought the premise
From my car
Others (specify
27. What about now?

Structure Structure
Single /
Partnership
Incorporated
Others (specify)
30. Business sector
Agriculture
Manufacturing
Food and beverage
Restaurants
Transport
Construction
Energy and
construction
oil and gas
Tourism
Banking
Oil and Gas
Art, entertainment,
culture
education
Other (specify)
31. Business plan

Why/why not
Why/why not
Why/why not
business

Well I must say it is all bout determination and sacrifice.
Although the returns within the first year of operation has not
been encouraging, I am determine to make it work.

33. Growth Strategy
why/why not
negatively
Q. BUSINESS PERFORMANCE AND INVESTMENTS

13.
/
Where Successful?
Yes Yes No
commercial bank /
Rural Banks /
Cooperative /
Family/friends /
Other source /


me this time for me
quality standards
standards
workers
employment
wages
harassment/abuse
workplace

me this time for me
quality standards
standards
workers
employment
wages
harassment/abuse
workplace
18.
R. REGULATORY ISSUES

Agree Disagree

easy to comply
reasonable
easy to comply

(complexity)
much (quantity)
(change)
government agencies
S. EMPLOYMENT AND WORKING CONDITIONS

Positive e e
The markets
Labour costs /
Taxation /
Yes No
Employee Handbook /
Salary increases /
Pension Scheme /

On-the-job training
Employee Handbook
Pension scheme
Salary increases
19.

Marketing
Purchasing
Stock control
Production
Costing
Record keeping
Financial planning
T. BUSINESS GROWTH

Positive e e
The markets /
Labour costs /
Taxation /

Sell the business
Retire /
Others
No changes planned
Don’t know
Others
Very poor
Poor
Good
Very good /

agree disagree
poor performance
run the business

agree disagree
Low Competition /
the past years?
Very poorly
Poorly
Well
Very well /

agree disagree

agree disagree
Yes No
Enablis Ghana /
Technoserve /
U. Financial literacy
flow issues, etc.

s
mobile o
103. If you indicated that you have a current or savings account for your business. Can
you tell me which of these statements best represents your situation?
NO
No
No
Yes

No




Yes

124. Please have you heard of Derivatives (such as options, futures, swaps and others)?
YES / NO

Yes

No
No
132. Please indicate the reasons if you mentioned that you have not used bank loans to
finance your business since business inception?


Others (specify)
133. Which of the following statements best describes how you made your most recent
choice about a financial product or service for the business?

decision
financial provider
options to consider
134. Since the business creation, have you asked for help about any of the following
matters?

135. Please state below the above matters that you sought help for and indicate by them
where you for the help. (Example A business partner, a book-keeper or accountant, a
business financial advisor, Auditing firms, Family or friends etc.)

business

specify
137. Since the creation of the business, has the business been confronted with situations
where funds were insufficient to cover cash outflows or to pay for expected expenses of the
138. When this happened, what was the main strategy that you put in place to cover
immediate cash needs? Indicate below
Used personal funds

Other: specify
139. Thinking about your business, would you agree or disagree with the following
statements?

Agree disagree
business
regularly
my business
needs them
business
Very low
Quite low
About average
Quite high
Very high /
Don’t know
statements?

Agree disagree
behaviour
for my business
practice
earn some income

Don’t know
Irrelevant answer
More than GHS 110

Exactly GHS 110 /
Less than GHS 110
Don’t know
Irrelevant answer


over time
None of the above
Don’t know

None of the above
Don’t know
back their debt
148. Have you ever received training on personal money management?
1.
2.
3.
4.
1.
2.
3.
4.
THANK YOU

V. ENTREPRENEURS BACKGROUND INFORMATION

Male
Female /
18 - 29
30 - 39 /
40 - 49
50 and above
27. Marital Status
Single
Married /
Separated
Widowed
divorced
Oti Region
Bono East Region
Ahafo Region
Bono Region
North East Region /
Savannah Region
Western Region
Volta Region
Eastern Region
Ashanti Region
Central Region
Northern Region
Upper East Region
Upper West Region
Primary
JHS
SHS
Technical /
Professional
University level
No formal education
Other (specify)
I was unemployed
I was a student /

I took advantage of an opportunity /
To secure my future (pension) /
scheme
Others

Why / why not
W. PROFILE OF BUSINESS
Nawunzalitizaa fast food

Less than 1 year

1–2 years
3–5 years
6–10 years /
More than 10 years
35.
Where did you register your business Tamale

No

Business premise
Family house
Rented the premise
Bought the premise /
From my car
Others (specify
38. What about now?
Structure Structure
Single /
Partnership
Incorporated
Others (specify)
41. Business sector
Agriculture
Manufacturing
Food and beverage
Restaurants
Transport
Construction
Energy and
construction
oil and gas
Tourism
Banking
Oil and Gas
Art, entertainment,
culture
education
Other (specify)
42. Business plan

Why/why not
Why/why not
Why/why not
business

Determination and Perseverance.
And also self confidence
44. Growth Strategy
why/why not
negatively
Increase in sales volume
X. BUSINESS PERFORMANCE AND INVESTMENTS

19.
/
Where Successful?
Yes Yes No
commercial bank /
Rural Banks /
Cooperative /
Family/friends /
Other source /


me this time for me
quality standards
standards
workers
employment
Pay your workers the right amount of /$
wages
harassment/abuse
workplace

me this time for me
quality standards
standards
workers
employment
wages
harassment/abuse
workplace
24.
Y. REGULATORY ISSUES

Agree Disagree

easy to comply
reasonable
easy to comply

(complexity)
much (quantity)
(change)
government agencies
Z. EMPLOYMENT AND WORKING CONDITIONS

Positive e e
The markets
Labour costs /
Taxation /
Yes No
Employee Handbook /
Salary increases /
Pension Scheme /

On-the-job training
Employee Handbook
Pension scheme
Salary increases
26.

Marketing
Purchasing
Stock control
Production
Costing
Record keeping
Financial planning
From experts.
AA. BUSINESS GROWTH


Positive e e
The markets /
Labour costs /
Taxation /

Sell the business
Retire /
Others
No changes planned
Don’t know
Others
Very poor
Poor
Good
Very good /

agree disagree
poor performance
run the business

agree disagree
Low Competition /
the past years?
Very poorly
Poorly
Well
Very well /

agree disagree

agree disagree
Yes No
Enablis Ghana /
Technoserve /
BB. Financial literacy

flow issues, etc.

s
mobile o
153. If you indicated that you have a current or savings account for your business. Can
you tell me which of these statements best represents your situation?
NO
No
No
Yes

No




Yes

174. Please have you heard of Derivatives (such as options, futures, swaps and others)?
YES / NO

Yes

No
No
182. Please indicate the reasons if you mentioned that you have not used bank loans to
finance your business since business inception?


Others (specify)
183. Which of the following statements best describes how you made your most recent
choice about a financial product or service for the business?

decision
financial provider
options to consider
184. Since the business creation, have you asked for help about any of the following
matters?

185. Please state below the above matters that you sought help for and indicate by them
where you for the help. (Example A business partner, a book-keeper or accountant, a
business financial advisor, Auditing firms, Family or friends etc.)

business

specify
187. Since the creation of the business, has the business been confronted with situations
where funds were insufficient to cover cash outflows or to pay for expected expenses of the
188. When this happened, what was the main strategy that you put in place to cover
immediate cash needs? Indicate below
Used personal funds

Other: specify
statements?

Agree disagree
business
regularly
my business
needs them
business
Very low
Quite low
About average
Quite high
Very high /
Don’t know
statements?

Agree disagree
behaviour
for my business
practice
earn some income

Don’t know
Irrelevant answer
More than GHS 110

Exactly GHS 110 /
Less than GHS 110
Don’t know
Irrelevant answer


over time
None of the above
Don’t know

None of the above
Don’t know
back their debt
198. Have you ever received training on personal money management? Yes
1.
Though not favourable, it has not been so severe.
2.
It also
3.
4.
1.
Belief in yourself thus, self confidence
2.
Work hard
3.
You must also abreast your with knowledge
4.
THANK YOU

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DEPARTMENT OF ACCOUNTING EDUCATION

A. ENTREPRENEURS BACKGROUND INFORMATION

2. Age (Please tick the range)

6. What were you doing before you began this business?

I want to be my own boss

8. Have you had any training in entrepreneurship? YES/ NO

Formal Informal No training

In your opinion is it important?

Gracious Lord Enterprise

Less than 1 year /

Where did you register your business Bolga

3. How was this business started?

As a family owned business

Still operating in the rented premises

6. What triggered the change of your business premise?

Ownership Structure A. Original B. Present

Is your business still in operation? Yes

what has contributed to the failure of your business

Is there something you should have done better?

11. Growth Strategy

Successful because Failed because

Acceptable for With reservation at Not Acceptable

Acceptable for With reservation at Not Acceptable

strongly Agree Disagree strongly

The tax filing requirements of my business are easy to comply /

I find it easy to understand regulations relating to my business /

Strongl Positive No Negative Strongly

3. Have you been providing the following benefits to your workers?

Better No difference Worse

Training Programs Attended

Strongl Positive No Negative Strongly

Continue with present business /

strongly agree disagree strongly

strongly agree disagree strongly

strongly agree disagree strongly

strongly agree disagree strongly

11. If yes have gain from them

2. Do you have any of the following accounts for your business?

Current or savings account at a bank Ye

No because I financed the inception of the business from different source.

12. Please have you heard of Trade credit? YES / NO

14. Please have you heard of Venture capital? YES / NO

16. Please have you heard of Angel investment? YES / NO

18. Please have you heard of Public equity? YES / NO

20. Please have you heard of Leasing or hire purchase? YES / NO

22. Please have you heard of Factoring? YES / NO

28. Please have you heard of Third-party liability insurance? YES / NO

The business does not need this type of /

I did not know how to apply

I considered several options from different /

Managing cash flow Yes

Managing cash flows An Accountant

In an electronic format (e.g. MS Excel, accounting software etc.) specify /

Used personal funds

Strongly Agree Neutral Disagree Strongly

Financial knowledge and attitudes

Strongly Agree Neutral Disagree Strongly

Answer GHS102.00 will be in the account at the end of the year

More than GHS 110

A financial snapshot, taken at a point in /

A record of profits and losses of the firm in

50. Any advice for an upcoming entrepreneur?

DEPARTMENT OF ACCOUNTING EDUCATION

H. ENTREPRENEURS BACKGROUND INFORMATION