A business framework for enterprise development and venture creation in Libreville, Gabon
The purpose of this study is to develop a business framework for enterprise development and venture creation in Libreville, Gabon. The question that guides this research is: How are hotels and restaurants created and developed in Libreville, Gabon? The level of poverty and the unemployment rate have pushed many people to become creative in finding a way to generate income. The resultant entrepreneurial activity is a key element in the potential economic growth of the country. The Gabonese Government took the initiative to promote SMEs by providing the necessary economic environment. However, from a financial perspective it appears that the majority of entrepreneurs are using their own capital to finance their business during the start-up and developing phases. The limited access to finance remains a major issue for entrepreneurs in both developed and developing countries. It is an ongoing challenge for them to acquire financial support from the available financial institutions. In order to make this study effective, a quantitative approach was followed. A selfadministered survey questionnaire was distributed to seventy owners and managers of hotels and restaurants. The findings show that the key elements which lead to the failure of SMMEs are; the limited access to finance to start up a new business, the lack of funds to maintain operating expenses during the start-up stage, the low return on investment and the mismanagement and poor understanding of the financial cycle of a start-up. Therefore this study proposes a business framework for venture creation and development so that entrepreneurs in Libreville will become educated in the correct procedures to successfully manage and grow their businesses, which will have a positive effect on the economy as more businesses become self-sustainable. SMMEs are regarded as an important means of addressing unemployment and poverty and boosting the economy of the country.
Except where otherwise noted, this item's license is described as http://creativecommons.org/licenses/by-nc-sa/3.0/za/
Showing items related by title, author, creator and subject.
The role of government in development of entrepreneurship in Gabon and South Africa; a comparative study Mihindou, Igor Rossi (Cape Peninsula University of Technology, 2014)Africa is estimated to have more than 66% of the world’s natural resources, it is these natural resources that are converted into products that bring about the wealth the world has. Exploitation of these abundant resources ...
Pambault Enombo, Jenny Georgette (Cape Peninsula University of Technology, 2015)This study aimed to identify the need for entrepreneurship education in developing countries, more specifically in Libreville, Gabon. This research followed a mixed method. Quantitative data were collected by means of ...
Mboumba, Grace Ntahinta (Cape Peninsula University of Technology, 2017)Sport tourism events have been recognised as a very important niche market offering great opportunities for countries worldwide. Because of their ability to provide urban, regional and national developments, every country ...