Why Ghana’s MSMEs must rethink human capital investment: Seven strategic benefits
Ghana's Micro, Small and Medium Enterprises (MSMEs) account for over 90% of all businesses in the country, contribute about 70% of GDP, and absorb 80% of the workforce, making them the backbone of the national economy. Yet a sobering reality persists: more than 90% of these enterprises are micro-sized, the overall MSME failure rate stands at 50%, and only 20% of start-ups survive. Behind these figures lies a long-overlooked bottleneck: severe underinvestment in human capital.