Entrepreneurship and Economic Change in a Developing Region: Opportunities and Challenges in Africa

Abstract

Opportunities and challenges of entrepreneurship in Africa are examined. Opportunities include abundant resource endowments, vast human resources, and entrepreneurial spirit. Indigenous entrepreneurial talents are required to exploit the resources and add value them. Globalization offers opportunities for African entrepreneurs to capitalize on low-cost advantage to penetrate global and market their products to the burgeoning global consumers. Challenges facing African entrepreneurs include bureaucratic hurdles demonstrated by unfriendly business climate and discouraging procedures of doing business. Access to credit and poor physical infrastructure militate against business start-ups, growth, and expansion in the region.