The entrepreneurial landscape in Ghana is characterised by a dynamic interplay between small and medium-sized enterprises and a complex institutional framework. Understanding the persistent challenges within this business environment is critical for fostering sustainable economic development. This study aims to systematically identify and analyse the predominant challenges faced by entrepreneurs and to evaluate the prospects for institutional support mechanisms designed to mitigate these obstacles. A cross-sectional survey design was employed, administering a structured questionnaire to a stratified random sample of registered SME owners across multiple sectors and regions. Quantitative data were analysed using descriptive and inferential statistics. Access to formal finance emerged as the most significant barrier, with over 70% of respondents citing it as a major constraint. Regulatory burdens and infrastructural deficits were also prominent themes, highlighting a critical gap between policy intent and practical implementation. The findings indicate that while entrepreneurial activity is robust, systemic institutional weaknesses continue to impede business growth and scalability, necessitating targeted policy interventions. Policymakers should prioritise streamlining business registration processes and enhancing the capacity of financial institutions to develop products tailored to SME needs. Further research should explore the efficacy of digital financial services. entrepreneurship, business environment, institutional support, SMEs, survey, Ghana This paper provides a novel, longitudinal perspective on entrepreneurial challenges by synthesising survey data to project institutional development trajectories, offering a forward-looking analysis for policy formulation.
Asante et al. (Sat,) studied this question.