Investigating the Influence of Scs and Pcs on Existence of Human Capital of Rural Entrepreneurial Activities and Small Businesses: Managerial Implications
Keywords:
Owner-managers; Entrepreneurial activities; Human capital; specific and personal challengesAbstract
Human capital represents one of the primary essentials to successful entrepreneurial activities. As such, there is the need to determine the impact of challenges on the existence of human capital towards rural entrepreneurial activities. This study seeks to empirically investigate the influence of specific and personal challenges on the existence of human capital of entrepreneurial activities. A quantitative approach was adopted aided by a 7 Likert-scale questionnaire to solicit primary data. A total of 300 owner-managers were selected through the snowball and convenience methods.
Different analytical tools such as the descriptive statistics, the Exploratory Factor Analysis (EFA), Kaiser-Meyer Olkin (KMO) and the Bartlett Test of Sphericity (BTS) were applied Besides, the Pearson’s correlation coefficient was utilised to test the relationship between the specific challenges (SCs) and personal challenges (PCs) on EHC.
Empirically, this study found that SCs and PCs greatly influenced the EHC in terms of entrepreneurial activities. Based on PCs and SCs, it became clear that PCs significantly influenced the EHC in contrast to SCs. The study recommends that more training should be offer to owner-managers through the establishment of local entrepreneurial hubs. Besides, there is the need to provide tailored-made role models to help rural owner-managers of small businesses.
References
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Brink, A., Cant, M. & Ligthelm, A. 2003. Problems experienced by small businesses in South Africa. http://www.ccc.com..au/programs/resources-manager/accounts/seanz-papers/newdocant.pdf
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Kelly, D., Bosma, N. & Amos, J.E. 2011. Global Entrepreneurship Monitor. 2010. Global Report Babson Park, MA: Babson College.
Kondowe, C. 2013. Exploring the circumstances and experiences of youth immigrants when establishing and running a successful informal micro-business. Masters dissertation. Department of Social Development. University of Cape Town.
Kongolo, M. 2010. Job creation versus job shedding and the role of SMEs in economic development, African Journal of Business management, 4 (11): 2288-2295.
Lau, C.M. & Busenitz, L.W. 2001. Growth Intentions of Entrepreneurs In A Transitional Economy: The People’s Republic of China. Entrepreneurship Theory and Practice, 26(1):5-20.
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Lekhanya, L.M. 2015. Public Outlook on Small and Medium Enterprises as a Strategic Tool for Economic growth and Job Creation in South Africa. Journal of Governance and Regulation, 4(4), pp. 412 - 418
Ligthelm, A.A., & Cant, M.C. 2002. Business success factors of SMEs in Gauteng. Pretoria: University of South Africa.
Lin, S., Miao, Q. & Nie, K. 2012. A case study on entrepreneurship for sustained innovation. African Journal of Business Management, 6, 493-450.
Loué, C. & Baronet, J. 2012. ‘Toward a new entrepreneurial skills and competencies framework: A qualitative and quantitative study’, International Journal of Entrepreneurship and Small Business 17(4), 455–477. https://doi.org/10.1504/ IJESB.2012.050164.
Mare, K. & Pietersen, J. 2007. Sampling: In Maree, K (Ed). First Step in Research. Pretoria: Van Schaik.
Marshal, M.L. & Oliver, W.N. 2005. The effect of human financial and social on entrepreneurial process for entrepreneurs in India. Master’s Thesis Unpublished. Purdue: Purdue University.
Mazanai, M. & Fatoki, O. 2012. ‘Access to finance in the SME sector: A South African perspective’, Asian Journal of Business Management 4(1), 58–67.
Melicher, L. 2009. Entrepreneurship Finance. 4th Ed. London: South-Western Centage Learning.
Mohr, P. & Fourie, L. 2004. Ekonomie Vir Suid-Afrikaanse Student. Pretoria: Van Schaik.
Mokaya, S.O., Namusonge, M. & Sikalieh, D. 2012. The Concept of Entrepreneurship In Pursuit of a Universally Accepted Definition. International Journal of Arts and Commerce, 1(6):128-135.
Monks, P.G.S. 2010. Sustainable growth of SME’s. Unpublished MBA Thesis. Port Elizabeth: Nelson Mandela Metropolitan University.
Mosey, S. & Wright, M. 2007. ‘From Human Capital to Social: A Longitudinal Study of Technology-Based Academic Entrepreneurs’, Entrepreneurship: Theory and Practice, 909-935.
Nabi, G. & Linan, F. 2011. Graduate entrepreneurship in the developing world: Intentions, education and development. Education and Training, 53(5):325-334.
Nahapiet, J. 2011. ‘A Social Capital Perspective: Exploring the Links between Human Capital and Social Capital’, in Burton-Jones, A and Spender, J-C (eds). The Oxford Handbook of Human Capital, OUP, Oxford.
Naqvi, S.W.H. 2011. Critical success and failure factors of entrepreneurial organisations: Study of SMEs in Bahawalpur. Journal of Public Administration and Government, 1(2): 17-22.
Nunnally, J. C., & Bernstein, I. H. (1994). Psychometric theory (3rd ed.). New York: McGraw-Hill
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Olawale, F. & Garwe, D. 2010. “Obstacles to the growth of new SMEs in South Africa: A principal component analysis approach” African Journal of Business Management, 4(5):729-738
Piperopoulos, P. (2010). Ethnic minority businesses and immigrant entrepreneurship in Greece. Journal of Small Business and Enterprise Development, 17(1): 139-158.
Rankhumise, E.M. 2010. Lessons and challenges faced by small business owners in running their businesses in: Proceedings of the IAMB conference, 25-27 January 2010. Las Vegas, California.
Rogerson, C.M. (2006). Creative Industries and Urban Tourism: South African Perspectives, Urban Forum, 17, 149-166.
Rwigema, H. 2004. Entrepreneurship: An Overview. In: H. Rwigema & R. Venter (eds). Advanced Entrepreneurship. Oxford: Oxford University Press.
Schachtebeck, C. 2017. 'Individual-level intrapreneurial orientation and organisational growth in small and medium enterprises', Unpublished doctoral thesis, Johannesburg, University of Johannesburg.
Schultz, T.W. 1993. The reckoning of education as human capital, in W.L. Hansen (ed), education, income and human capital. NBER studies in income and wealth, p 35, Columbia University Press, New York, NY.
Serneels, P. 2008. ‘Human Capital Revisited: The Role of Experience and Education when controlling for Performance and Cognitive Skills’. Labour Economics, 15(6): 11-43-61.
Sha, S. 2006. An Investigation into the problems Facing Small to Medium Sized Enterprises in achieving growth in the Eastern Cape: Enhancing the strategy for Developing small “growth Potential” Firms in the Eastern Cape.
Shaw, E., Lam, W. & Carter, S. 2008. The role of Entrepreneurial Capital in Building Services Reputation’, Service Industry Journal, 28(7/8):899-917.
Shejavali, N. 2007. SMEs in Namibia-recommendations to address the challenges and constraints faced by SMEs in the Namibian economy. Research paper presented in Sept, 2007.
Shrader, R. & Siegel, D. S. 2007. Assessing the relationship between Human Capital and Firm Performance: Evidence from Technology-Based New Ventures’, Entrepreneurship: Theory and Practice, 31(6): 893-908.
Smith, E. & Perks, S., 2006, ‘Training Interventions Needed for Developing Black Micro-Entrepreneurial Skills in the Informal Sector: A Qualitative Perspective, South African Journal of Human Resource Management, 4(1):17–26.
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Tlhomola, S.J. 2010. Failure of small, medium and micro enterprises in the Tshwane Metropolitan Municipality. Tshwane University of Technology, Pretoria, South Africa
Von Broembsen, Wood, E., Herrington, M., Shay, D. & Sheppers, R. 2005. Global Entrepreneurship Monitor, South Africa Report, UCT, Cape Town.
Von Krogh, G. & William, M. 2011. ‘The firm, Human Capital and Knowledge Creation’. In Burton-Jones, A. and Spender, J.C. (eds). The Oxford Handbook of Human Capital, Oxford OUP. Weick, K. (1995) Sense making in Organisations, Sage, Thousand Oaks, CA.
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Weeks, R. & Benade, S. 2008. Managing a South African organisation within a dual manufacturing and services economy. Acta Commerci, 8(1): 208-218.
Willemse, J. 2010. The Forum SA. SME Failure Statistics. Online available: http://www.theforumsa.co.za/forums/showthread.php? t=7808. Accessed 21 September, 2019.
World Bank. 2007. Social capital. [Online] available http://web.worldbank.org/wbsite/external/topics/extsocialdevelopment/ extant social capital. Date access: 12 May 2019.
Agyapong, D., Agyapong, G.K.Q. & Darfor, K.N. 2011. Criteria for assessing small and medium enterprises’ borrowers in Ghana. International Business Research, 4(4):132-138.
Ahmad, A. R., Fauziah, W., Yusoff, W., Noor, H., & Kaseri, A. 2012. Preliminary Study of Rural Entrepreneurship Development Program in Malaysia. International Conference on Management, 2(I):537–546.
Ahmad, N.H., Halim, H.A. & Zainal, S.R.M. 2010. Is entrepreneurship the silver bullet for SME success in the developing nations? International Business Management, 4(2):67-75.
Ahmad, Z.S. & Xavier, R.S. 2012. Entrepreneurial environments and growth: Evidence from Malaysia GEM data. Journal of Chinese Entrepreneurship, 4(1):50-64.
Aldrich, H. E. & Fiol, M. 1994. Fools Rush: In the Institutional Context of Industry Creation. Academy of Management Review, 19:645-670.
Amond, D. & Currie, J. 2009. ‘Human Capital Development before Age Five’. Working Paper Series, Columbia University.
Bennett, R. J. 2008. SME Policy Support in Britain Since The 1990s: What Have We Learnt? Environmental and Planning. Government and Policy, 26(2):375-397.
Berlin, A., Doherty, F., Garmise, S., Ghosh, S.A; Moorman, N., Sowders, J. & Texter, M. 2010. International Economic Development Council (IEDC). Unlocking entrepreneurship: a primer for economic developers.
Blundell, R., Dearden, L. & Sianesi, B. 2005. ‘Evaluating the effect of education on earnings: Models, Methods and Results from the National Child Development Survey’. Journal of the Royal Statistical Society Series a (Statistics in Society), 168 (3):143-512.
Bowen, M., Morara, M. & Mureithi, S. 2009. Management of business challenges among small and micro enterprises in Nairobi-Kenya. KCA, Journal of Business Management, 2(1):16-31.
Brand, R., Du Preez, N. D. & Schutte, C. 2007. A business framework to network small South African enterprises for sustainability. South African Journal of Industrial Engineering, 18(2):187-201.
Brink, A., Cant, M. & Ligthelm, A. 2003. Problems experienced by small businesses in South Africa. http://www.ccc.com..au/programs/resources-manager/accounts/seanz-papers/newdocant.pdf
CDE. 2007. Young Soweto entrepreneurs. Johannesburg: Centre for Development Enterprises.
Chimucheka, T. & Rungani, E.C. 2011. The impact of inaccessibility to bank finance and lack of financial management knowledge to small, medium and micro enterprises in Buffalo City Municipality, South Africa. African Journal of Business Management, 5 (14): 5509-5517.
Chua, J. H, Chrisman, J. J., Kellermanns, F. W., & Wu, Z. (2011). Family involvement and new venture debt financing. J of Bus Vent, 26(4): 472-488
Creswell, J. W. 2009. Qualitative inquiry and research design: Choosing among five approaches (2nd Ed.). Thousand Oaks, CA: Sage.
De Carolis, D. M. & Saparito, P. 2006. ‘Social capital, cognition and entrepreneurial opportunities: A Theoretical Framework’. Entrepreneurship Theory and Practice, 30(1): 41-56.
Delmar, F. & Shane. 2004. Legitimating first: organizing activities and the survival of new ventures. Journal of Business Venturing 19, 385–410.
Department of Trade and Industry (DTI). 2008. Annual review of small business in South Africa - 2005-2007. Enterprise development unit. Pretoria: Department of Trade and Industry.
Ehlers T. & Lazenby, K. 2007. Strategic Management. South African and Cases, 2nd edition, Van Schaik, Pretoria.
Fatoki, O & Garwe, D. 2010. Obstacles to the growth of new SMEs in South Africa: A principal component analysis approach. African Journal of Business Management, 4(5):729-738.
Field, A.P. 2013. Discovering statistics using IBM SPSS statistics. 4th edition. London: Sage.
Fin Mark Trust. 2006. Fin Scope Small Business Survey Report (online): http://www.finmarktrust.org.za.
Ganotakis, P. 2010. Founders’ human capital and the performance of UK new technology-based firms. Small Business Economics, 35(4):1-21.
GEM. 2011. Global Entrepreneurship Monitor. Global Report. http://www.gemconsortium.org. Date of access: 20 Apr. 2019.
Gibb, A. 1996. ‘Entrepreneurship and Small Businesses: Can we afford to neglect them in the twenty-first century business school’. British Journal of Management, 7:309-321.
Gree, A. & Thurnik, C. 2003. Firm selection and industry evolution: the post country performance of new firm. Journal of Evolutionary Economics, 4, 243-264.
Hair, J.F., Black, W.C., Babin, J.B., Anderson, R.E., & Tatham, R.L. 2010. Multivariate data analysis. (6th ed). Upper Saddle River. New Jersey: Pearson/Prentice Hall.
Herrington, M., Kew J. & Kew, P. 2008. Global entrepreneurship monitor South African report. Cape Town: University of Cape, Graduate school of business.
Herrington, M., Kew J. & Kew, P. 2009. Global Entrepreneurship Monitor. South Africa Report. From: http://www.gbs.net.ac.za/gbswebb/userfiles/gemsouthafrica2000pdf. Date access: 18 May 2015.
Herrington, M. Kew, J. & Kew, P. 2010. Tracking entrepreneurship in South Africa: A GEM perspective. [Online] Available at: http://www.gemconsortium.org/docs/604/ gem-south-africa-2009-report. Date of access: 15 June 2019.
Hessel, J. & Terjesen, S. 2008. Entrepreneurial carrier capital, innovation and new venture export orientation. Scales Research Reports, 1-34.
ILO (International Labour Organisation), 2009, ‘The informal economy in Africa: Promoting transition to formality: Challenges and strategies. International Labour Organisation, Employment Sector and Social Protection Sector, Geneva, Switzerland.
Janse Van Rensburg, Y. 2011. Labour provides the greatest hindrance to Sme Growth.
Http://Www.Ideate.Co.Za/201105/26/Labour-Provides-The-Greatest-Hindranceto- Sme-Growth. Date of Access: 15 Sep. 2019
Jones, O., Macpherson, A. & Thorpe, R. 2010. ‘Promoting Learning in Owner-Managed Small Firms: Mediating Artefacts and Strategic Space’, Entrepreneurship & Regional Development, 22(7/8):649-673.
Kelly, D., Bosma, N. & Amos, J.E. 2011. Global Entrepreneurship Monitor. 2010. Global Report Babson Park, MA: Babson College.
Kondowe, C. 2013. Exploring the circumstances and experiences of youth immigrants when establishing and running a successful informal micro-business. Masters dissertation. Department of Social Development. University of Cape Town.
Kongolo, M. 2010. Job creation versus job shedding and the role of SMEs in economic development, African Journal of Business management, 4 (11): 2288-2295.
Lau, C.M. & Busenitz, L.W. 2001. Growth Intentions of Entrepreneurs In A Transitional Economy: The People’s Republic of China. Entrepreneurship Theory and Practice, 26(1):5-20.
Leech, N. L., Barrett, K. C. & Morgan, G. A. 2005. SPSS for intermediate statistics: Use and interpretation. Mahwah, N.J: Lawrence Erlbaum.
Lekhanya, L.M. 2015. Public Outlook on Small and Medium Enterprises as a Strategic Tool for Economic growth and Job Creation in South Africa. Journal of Governance and Regulation, 4(4), pp. 412 - 418
Ligthelm, A.A., & Cant, M.C. 2002. Business success factors of SMEs in Gauteng. Pretoria: University of South Africa.
Lin, S., Miao, Q. & Nie, K. 2012. A case study on entrepreneurship for sustained innovation. African Journal of Business Management, 6, 493-450.
Loué, C. & Baronet, J. 2012. ‘Toward a new entrepreneurial skills and competencies framework: A qualitative and quantitative study’, International Journal of Entrepreneurship and Small Business 17(4), 455–477. https://doi.org/10.1504/ IJESB.2012.050164.
Mare, K. & Pietersen, J. 2007. Sampling: In Maree, K (Ed). First Step in Research. Pretoria: Van Schaik.
Marshal, M.L. & Oliver, W.N. 2005. The effect of human financial and social on entrepreneurial process for entrepreneurs in India. Master’s Thesis Unpublished. Purdue: Purdue University.
Mazanai, M. & Fatoki, O. 2012. ‘Access to finance in the SME sector: A South African perspective’, Asian Journal of Business Management 4(1), 58–67.
Melicher, L. 2009. Entrepreneurship Finance. 4th Ed. London: South-Western Centage Learning.
Mohr, P. & Fourie, L. 2004. Ekonomie Vir Suid-Afrikaanse Student. Pretoria: Van Schaik.
Mokaya, S.O., Namusonge, M. & Sikalieh, D. 2012. The Concept of Entrepreneurship In Pursuit of a Universally Accepted Definition. International Journal of Arts and Commerce, 1(6):128-135.
Monks, P.G.S. 2010. Sustainable growth of SME’s. Unpublished MBA Thesis. Port Elizabeth: Nelson Mandela Metropolitan University.
Mosey, S. & Wright, M. 2007. ‘From Human Capital to Social: A Longitudinal Study of Technology-Based Academic Entrepreneurs’, Entrepreneurship: Theory and Practice, 909-935.
Nabi, G. & Linan, F. 2011. Graduate entrepreneurship in the developing world: Intentions, education and development. Education and Training, 53(5):325-334.
Nahapiet, J. 2011. ‘A Social Capital Perspective: Exploring the Links between Human Capital and Social Capital’, in Burton-Jones, A and Spender, J-C (eds). The Oxford Handbook of Human Capital, OUP, Oxford.
Naqvi, S.W.H. 2011. Critical success and failure factors of entrepreneurial organisations: Study of SMEs in Bahawalpur. Journal of Public Administration and Government, 1(2): 17-22.
Nunnally, J. C., & Bernstein, I. H. (1994). Psychometric theory (3rd ed.). New York: McGraw-Hill
Organization for Economic Cooperation and Development (OECD). 2013. List of OECD Member Countries Ratification of the Convention on the OECD. [Online]. http://www.oecd.org.
Olawale, F. & Garwe, D. 2010. “Obstacles to the growth of new SMEs in South Africa: A principal component analysis approach” African Journal of Business Management, 4(5):729-738
Piperopoulos, P. (2010). Ethnic minority businesses and immigrant entrepreneurship in Greece. Journal of Small Business and Enterprise Development, 17(1): 139-158.
Rankhumise, E.M. 2010. Lessons and challenges faced by small business owners in running their businesses in: Proceedings of the IAMB conference, 25-27 January 2010. Las Vegas, California.
Rogerson, C.M. (2006). Creative Industries and Urban Tourism: South African Perspectives, Urban Forum, 17, 149-166.
Rwigema, H. 2004. Entrepreneurship: An Overview. In: H. Rwigema & R. Venter (eds). Advanced Entrepreneurship. Oxford: Oxford University Press.
Schachtebeck, C. 2017. 'Individual-level intrapreneurial orientation and organisational growth in small and medium enterprises', Unpublished doctoral thesis, Johannesburg, University of Johannesburg.
Schultz, T.W. 1993. The reckoning of education as human capital, in W.L. Hansen (ed), education, income and human capital. NBER studies in income and wealth, p 35, Columbia University Press, New York, NY.
Serneels, P. 2008. ‘Human Capital Revisited: The Role of Experience and Education when controlling for Performance and Cognitive Skills’. Labour Economics, 15(6): 11-43-61.
Sha, S. 2006. An Investigation into the problems Facing Small to Medium Sized Enterprises in achieving growth in the Eastern Cape: Enhancing the strategy for Developing small “growth Potential” Firms in the Eastern Cape.
Shaw, E., Lam, W. & Carter, S. 2008. The role of Entrepreneurial Capital in Building Services Reputation’, Service Industry Journal, 28(7/8):899-917.
Shejavali, N. 2007. SMEs in Namibia-recommendations to address the challenges and constraints faced by SMEs in the Namibian economy. Research paper presented in Sept, 2007.
Shrader, R. & Siegel, D. S. 2007. Assessing the relationship between Human Capital and Firm Performance: Evidence from Technology-Based New Ventures’, Entrepreneurship: Theory and Practice, 31(6): 893-908.
Smith, E. & Perks, S., 2006, ‘Training Interventions Needed for Developing Black Micro-Entrepreneurial Skills in the Informal Sector: A Qualitative Perspective, South African Journal of Human Resource Management, 4(1):17–26.
Statistics South Africa. 2012. Quarterly Labour force survey: Quarter 2. 2012. http://www.statssa.gov.za.
Strydom, H. 2005. Ethical aspects of research in the social sciences and human service professions in De
Vos, A., Strydom, H., Fouche, C. & Delport, C. (Eds.). Research at grass roots for the social sciences and human service professions. 3 ed. Hatfield, Pretoria: Van Schaik Publishers. 56-70.
Teece, D. J. 2011. Human Capital Capabilities, and the firm; Literati, Numerati, and Entrepreneurs in the Twenty-First Century Enterprise’, in Burton Jones, A and Spender, J-C (eds). The Oxford Handbook of Human Capital, OUP, Oxford.
Tlhomola, S.J. 2010. Failure of small, medium and micro enterprises in the Tshwane Metropolitan Municipality. Tshwane University of Technology, Pretoria, South Africa
Von Broembsen, Wood, E., Herrington, M., Shay, D. & Sheppers, R. 2005. Global Entrepreneurship Monitor, South Africa Report, UCT, Cape Town.
Von Krogh, G. & William, M. 2011. ‘The firm, Human Capital and Knowledge Creation’. In Burton-Jones, A. and Spender, J.C. (eds). The Oxford Handbook of Human Capital, Oxford OUP. Weick, K. (1995) Sense making in Organisations, Sage, Thousand Oaks, CA.
Wasdani, K.P. & Mathew, M. 2014. ‘Potential for opportunity recognition along the stages of entrepreneurship’, Journal of Global Entrepreneurship Research 2(1),7. https://doi.org/10.1186/2251-7316-2-7.
Weeks, R. & Benade, S. 2008. Managing a South African organisation within a dual manufacturing and services economy. Acta Commerci, 8(1): 208-218.
Willemse, J. 2010. The Forum SA. SME Failure Statistics. Online available: http://www.theforumsa.co.za/forums/showthread.php? t=7808. Accessed 21 September, 2019.
World Bank. 2007. Social capital. [Online] available http://web.worldbank.org/wbsite/external/topics/extsocialdevelopment/ extant social capital. Date access: 12 May 2019.
Published
2020-08-28
How to Cite
Agbenyegah, A. T. (2020). Investigating the Influence of Scs and Pcs on Existence of Human Capital of Rural Entrepreneurial Activities and Small Businesses: Managerial Implications: Array. Acta Universitatis Danubius. Œconomica, 16(5). Retrieved from https://dj.univ-danubius.ro/index.php/AUDOE/article/view/223
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Business Administration and Business Economics
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