11.7 Challenges of Building a Green Business
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low entry-level requirements. The technical aspects of Green entrepreneurship can
also offer an opportunity for those who have an interest in innovative business
solutions (Sanchez et al. 2009). Additionally, the creation of new organizations
leads to equal access regarding genders in all areas. Whereas there are still hurdles
for Green entrepreneurs, stimulating it could offer new and inclusive employment
opportunities, thus leading to equal rights.
Track the progress of Green entrepreneurship in creating jobs in Africa.
How does Green entrepreneurship promote the development of skills and
knowledge?
11.6.3 Other Roles
The other crucial roles of Green entrepreneurship in the attainment of SDGs are
the development of new markets, improved public services, better health outcomes,
improved management of land resources, better management of water resources,
improved environmental quality, and better adaptation to climate change and coping
mechanisms. These roles are essential for the attainment of all 17 Sustainable
Development Goals.
11.7 Challenges of Building a Green Business
11.7.1 High Capital Costs/Inaccessibility to Finance
Many developers in sub-Saharan Africa lack adequate funds for starting Green
businesses. Compared to other businesses, Green entrepreneurs report that their
projects often entail high upfront costs (Koester 2016). Capital costs are often
barriers for entrepreneurs who would like to venture into Green business. For
example, according to a report from the World Green Building Trend 2016, higher
perceived start-up costs are the major challenge for the development of Green
buildings.
How can this challenge be solved?