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The role of institutional stakeholders in the success of new businesses in Africa

chapter
posted on 2024-04-05, 15:05 authored by Arinze NwobaArinze Nwoba, Samuel Kusi, Adedapo AdebajoAdedapo Adebajo, Mark Kofi Prempeh

The business startup landscape in Africa is currently experiencing massive growth. This has led to the continent becoming a hotspot for entrepreneurial activity, innovation, and investment. However, 80% of new business startups in Africa fail within their first five years of existence. To this end, this book chapter theorizes a conceptual approach positing that due to the institutional voids and unique institutional business settings in Africa, new business startups’ top-level managerial ties with relevant institutional stakeholders including political/government officials, regulatory officials, local community leaders, and business ties have a positive relationship with the growth, long-term survival, performance, and in turn, the success of new business startups on the continent. We show that these institutional stakeholders play an important role in economic and commercial activities in Africa and, as such, provide new business startups with relevant information, knowledge, and opportunities required to succeed.

History

School

  • Loughborough Business School

Published in

Stakeholder Management and Entrepreneurship in Africa

Pages

91 - 102

Publisher

Routledge

Version

  • AM (Accepted Manuscript)

Rights holder

© The authors

Publisher statement

This is an Accepted Manuscript of a book chapter published by Routledge in Stakeholder Management and Entrepreneurship in Africa on June 7, 2024, available online: https://www.routledge.com/9781032187433.

Publication date

2024-06-07

Copyright date

2024

ISBN

9781032187433; 9781003256014; 9781032187440

Book series

Routledge Studies in Entrepreneurship

Language

  • en

Editor(s)

Samuel Adomako; Michael Asiedu Gyensare; Mujtaba Ahsan

Depositor

Dr Arinze Nwoba. Deposit date: 3 April 2024

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