Factors Influencing Business and Entrepreneurial Survival in Africa: A Systematic Review

Abstract:

This paper examined the key factors that significantly impact the survival of businesses and entrepreneurial ventures in Africa using a systematic review. It is crucial to comprehend the factors that influence the existence of businesses to achieve enduring economic growth and advancement. By employing a comprehensive review of pertinent academic publications, this research effort merges significant findings from contemporary investigations to offer helpful perspectives on the challenges along prospects experienced by businesses operating in Africa. This study addresses various facets of entrepreneurship, such as the impact of entrepreneurial factors on achieving high levels of success, the causes of failure, the drivers of growth, and the distinct experiences of micro-businesses owned by African immigrants. Findings from the study indicate that several factors, including resource accessibility, market conditions, entrepreneurial aptitude, and government assistance, substantially influence the longevity of businesses in Africa. This study contributes to the broader academic conversation surrounding entrepreneurship in Africa. It achieves this by providing a comprehensive and current analysis of the various elements that influence the long-term viability of businesses. The outcomes of this comprehensive analysis provide valuable insights for policymakers, entrepreneurs, and researchers, enabling them to make informed decisions based on facts and promoting a conducive atmosphere in businesses striving in Africa.