Developing Strategies to Harness the Power of Parallel Entrepreneurship in Africa

Abstract

The study of entrepreneurship in general has drawn large interest over the last decade, and the specific subject of parallel entrepreneurship is no exception. Parallel entrepreneurship, or concurrent entrepreneurship, is the simultaneous ownership of at least two business ventures. It is found all over the world but is particularly evident at the international level, in the form of conglomerates. It has been argued that entrepreneurs owning several enterprises at the same time are more experienced than their peers operating single businesses and that studying this particular business model can enhance understanding of entrepreneurship more generally. This chapter identifies some of the most salient factors related to parallel entrepreneurship—factors that, if better understood and supported, have the potential to make a significant contribution to the economic transformation of developing economies. It also explores the contextual factors contributing to the growth of entrepreneurship in Africa and the prevalence and implications of parallel entrepreneurship. It concludes with a number of recommendations on how to support and develop parallel entrepreneurship in the future.