An investigation on the entrepreneurial opportunities in the ornamental plants industry in Accra, Ghana

Abstract

Agriculture is the backbone of the economy of Ghana (Ghana Statistical Service, 2016). However, Ghana’s agriculture mainly focuses on the production of staple foods such as cassava, cocoa and not high value crops like ornamental plants and spices (Index Mundi, 2018). This research study aimed to investigate the entrepreneurial opportunities in the ornamental plants sector in Accra- Ghana, which could help reduce the high rate of unemployment, 11.9% in Ghana (Ghana Statistical Service, 2016) The study further probed into how entrepreneurs could recognize and effectively exploit the opportunities identified in the industry to maximize profits. In answering these questions, a total sample of 16 small- scale florists in Accra were engaged in an in-depth- interview into the topic studied. The results of these interviewed revealed the primary challenges in the industry to be resource constraints and low levels of qualification. Further probing in the interviews exposed creativity, location of business, after-purchase services and education as recognized entrepreneurial opportunities by the small scale florists in the ornamental plants industry. To exploit these entrepreneurial opportunities, the necessary qualities required by an entrepreneur expressed by the respondents included entrepreneurial intention, employment creation, personal traits, and the goal of satisfying the need of customers. These attributes facilitates the exploitation of these opportunities to make profits. It was found that, potential entrepreneurs can capitalize on these opportunities in various fields in the industry to create jobs for graduates, florists and the unemployed in the country.