Intangible resources and the growth of women businesses Empirical evidence from an emerging market economy
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PurposeIntangible assets are widely considered as key success factors for the growth of businesses in various economies. While the relationship between intangible assets or resources and business growth or performance have been extensively researched in advanced economies, there is limited understanding of the complexity of the phenomenon in developing/emerging markets. In Ghana specifically, there is a dearth of research on the impact of intangible assets on the growth of women businesses. Consequently, this paper aims to investigate how intangible assets available to women entrepreneurs contribute to the performance of their businesses.Design/methodology/approachUsing an exploratory sequential research design (a type of mixed methods design), the data collection was organized into two main phases. The first phase was the qualitative phase where nine respondents were interviewed, and the responses were analysed using thematic analysis. The second phase was the quantitative phase where some 264 questionnaires were collected and analysed using multiple regression analysis.FindingsSpecifically, the findings focused on three intangible resources: social capital, human capital and reputational capital. The study found that, social, human and reputational capital all significantly contributed to the growth of women businesses. The study also showed a positive and significant effect of social capital, reputational capital and human capital on business growth.Practical implicationsThese findings have implications for women entrepreneurs in Ghana. If they must grow their businesses, then using intangible assets alone may not be able to deliver growth in the required proportions. Serious consideration must be given to the significant impact of intra and extra industry networking and the social competency skills of the entrepreneur. The rationality of this assertion hinges on the findings made from this study that social competence can be effectively used to further enhance the effects of the value of ones intangible assets.Originality/valuePolicymakers in Sub-Saharan Africa and specifically Ghana have accorded high priority to private sector entrepreneurship towards reduction in the dependence of the citizenry on government for jobs. Perhaps, this paper adds to the growing body of knowledge on female entrepreneurship in Ghana to understand how intangible assets available to women entrepreneurs contribute to the performance of their businesses.
