Numerous resources are needed for effective startups and growth of entrepreneurial activities, and finance has often been flagged as one of the most crucial, but the query here is whether this popular assertion is equally true in all business sectors. Thus, this paper examines some identified resources that foster entrepreneurial business activities across all South Africa’s nominated business sectors. Furthermore, it recognized the most essential resource in all the nominated sectors of the country’s economy. The authors anticipated that when some resource factors are examined across a country’s business sectors, the resources that boost entrepreneurial activities would be dissimilar and industry specific. Stratified random sampling method was adopted to guarantee satisfactory representation in each sector and 550 semi-structured questionnaires were dispensed in South Africa’s most popular economic hub and metropolitan city, Johannesburg. The data obtained were analyzed using Inferential and descriptive Statistics. The descriptive statistics displayed the featured occurrences of resources that enhanced entrepreneurial business activities in all the nominated sectors while Principal Component Analysis (PCA) was instrumental in pinpointing each sector’s the most essential resource factor. The research outcomes suggest that variations exist between respondents’ frequencies of resources adopted and the most vital across the selected business sectors. Surprisingly, availability of raw materials was the most vital and finance did not feature as the most vital resource factor in all South Africa’s selected business sectors. The authors anticipate more interesting outcomes if examined among selected businesses in each sector or entrepreneurship phase and therefore propose several extensions of this study.
Akinyemi et al. (Fri,) studied this question.