“…In these areas, studies have employed large organizations such as Air Afrique, Ghana Airways, and Nigeria Airways to shed light on business failures (Amankwah‐Amoah, ). In a broader sense, however, business failures in this context have been attributed to external factors such as competition and liberalization, and internal factors such as inferior resources, lack of skilled personnel, and lack of business strategy, which operate in combination to precipitate large business failure (Amankwah‐Amoah & Debrah, , ). On small businesses, studies have employed the experience of serial entrepreneurs to demonstrate how failure can shape the dynamics of successive entrepreneurial engagement (e.g., Amankwah‐Amoah, Boso, & Antwi‐Agyei, 2016).…”