This study examined some successes and challenges of a wood cluster in Kumasi, Ghana. A concurrent mixed method comprising survey, regression analysis, and correlation analysis were adopted to probe into how the effects of interconnections among firms in the cluster, the successes chalked and the challenges firms face in the cluster. Results showed significant (p < 0.001) interconnections among actors contributed to significant increase in productivity, sales and profit margins of the firms. Majority (93.4%) of respondents affirmed appreciable increases in sales and profit margins demonstrating that the cluster has been a major driver of economic growth. Permanent site for the artisans and other actors was the major benefit, provided by the cluster. However, lack of access to bank loans, timber, and waste management facility, promoting and marketing of products are some challenges associated with the cluster. Interventions from government and other agencies are required to create the enabling environment to attract investors that can help in addressing the challenges so as to stimulate growth of the wood and furniture enterprises in the cluster as they have greater potential for Ghana’s economic development.
Published in | Journal of Investment and Management (Volume 7, Issue 1) |
DOI | 10.11648/j.jim.20180701.11 |
Page(s) | 1-12 |
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Copyright © The Author(s), 2018. Published by Science Publishing Group |
Industrial Clusters, Wood Artisans, Sokoban Wood Village, SMEs in Ghana
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APA Style
Martin Amoah, Gbapenuo Enoch, Peter Kessels Dadzie, Joseph Asomani. (2018). Successes and Challenges in Industrial Clusters: Some Empirical Evidence from Wood Industrial Cluster in Kumasi, Ghana. Journal of Investment and Management, 7(1), 1-12. https://doi.org/10.11648/j.jim.20180701.11
ACS Style
Martin Amoah; Gbapenuo Enoch; Peter Kessels Dadzie; Joseph Asomani. Successes and Challenges in Industrial Clusters: Some Empirical Evidence from Wood Industrial Cluster in Kumasi, Ghana. J. Invest. Manag. 2018, 7(1), 1-12. doi: 10.11648/j.jim.20180701.11
AMA Style
Martin Amoah, Gbapenuo Enoch, Peter Kessels Dadzie, Joseph Asomani. Successes and Challenges in Industrial Clusters: Some Empirical Evidence from Wood Industrial Cluster in Kumasi, Ghana. J Invest Manag. 2018;7(1):1-12. doi: 10.11648/j.jim.20180701.11
@article{10.11648/j.jim.20180701.11, author = {Martin Amoah and Gbapenuo Enoch and Peter Kessels Dadzie and Joseph Asomani}, title = {Successes and Challenges in Industrial Clusters: Some Empirical Evidence from Wood Industrial Cluster in Kumasi, Ghana}, journal = {Journal of Investment and Management}, volume = {7}, number = {1}, pages = {1-12}, doi = {10.11648/j.jim.20180701.11}, url = {https://doi.org/10.11648/j.jim.20180701.11}, eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jim.20180701.11}, abstract = {This study examined some successes and challenges of a wood cluster in Kumasi, Ghana. A concurrent mixed method comprising survey, regression analysis, and correlation analysis were adopted to probe into how the effects of interconnections among firms in the cluster, the successes chalked and the challenges firms face in the cluster. Results showed significant (p < 0.001) interconnections among actors contributed to significant increase in productivity, sales and profit margins of the firms. Majority (93.4%) of respondents affirmed appreciable increases in sales and profit margins demonstrating that the cluster has been a major driver of economic growth. Permanent site for the artisans and other actors was the major benefit, provided by the cluster. However, lack of access to bank loans, timber, and waste management facility, promoting and marketing of products are some challenges associated with the cluster. Interventions from government and other agencies are required to create the enabling environment to attract investors that can help in addressing the challenges so as to stimulate growth of the wood and furniture enterprises in the cluster as they have greater potential for Ghana’s economic development.}, year = {2018} }
TY - JOUR T1 - Successes and Challenges in Industrial Clusters: Some Empirical Evidence from Wood Industrial Cluster in Kumasi, Ghana AU - Martin Amoah AU - Gbapenuo Enoch AU - Peter Kessels Dadzie AU - Joseph Asomani Y1 - 2018/03/05 PY - 2018 N1 - https://doi.org/10.11648/j.jim.20180701.11 DO - 10.11648/j.jim.20180701.11 T2 - Journal of Investment and Management JF - Journal of Investment and Management JO - Journal of Investment and Management SP - 1 EP - 12 PB - Science Publishing Group SN - 2328-7721 UR - https://doi.org/10.11648/j.jim.20180701.11 AB - This study examined some successes and challenges of a wood cluster in Kumasi, Ghana. A concurrent mixed method comprising survey, regression analysis, and correlation analysis were adopted to probe into how the effects of interconnections among firms in the cluster, the successes chalked and the challenges firms face in the cluster. Results showed significant (p < 0.001) interconnections among actors contributed to significant increase in productivity, sales and profit margins of the firms. Majority (93.4%) of respondents affirmed appreciable increases in sales and profit margins demonstrating that the cluster has been a major driver of economic growth. Permanent site for the artisans and other actors was the major benefit, provided by the cluster. However, lack of access to bank loans, timber, and waste management facility, promoting and marketing of products are some challenges associated with the cluster. Interventions from government and other agencies are required to create the enabling environment to attract investors that can help in addressing the challenges so as to stimulate growth of the wood and furniture enterprises in the cluster as they have greater potential for Ghana’s economic development. VL - 7 IS - 1 ER -