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Abstract
Thirty-one business failures distributed among six types of enterprise (market woman, hawker, produce middleman, petty shopkeeper, large shopkeeper, and petrol station operator) were studied in the railroad town of Pendembu, Sierra Leone. The combined number of failures due to misuse of capital and overextension of credit equals those due to family obligations. This finding is contrary to previous studies linking entrepreneurial failure to the extended family system. It is concluded that managerial training could be as important a part of economic development as capital input.