Int. J. Entrepreneurship and Small Business, Vol. 21, No. 4, 2014 437 Copyright © 2014 Inderscience Enterprises Ltd. The nature of entrepreneurship in bottom of the pyramid markets George Acheampong Business School, University of Ghana, RT 5, Box LG 78, Legon, Accra – Ghana E-mail: gacheampong@gmail.com Mark Esposito* Grenoble Graduate School of Business, 12, Rue Semard, F-38000, Grenoble, France and University of Cambridge, CPSL, 1 Trumpington Street, Cambridge, CB2 1QA, UK E-mail: mark.esposito@grenoble-em.com *Corresponding author Abstract: This study explored entrepreneurship in BOP markets in Ghana. The study used a quantitative approach with data collected using returned questionnaires from micro entrepreneurs in BOP markets in Ghana. The data was analysed using inferential statistics (mainly exploratory factor analysis and regression analysis). The study found a significant relationship between the antecedents of entrepreneurship and the market characteristics while a significant relationship exists between the BOP market characteristics and the entrepreneurial benefits was observed. Again, a significant relationship was found between the antecedent factors and the entrepreneurial benefits. The study concludes that BOP market psychodynamic factors are more critical than trait factors. Keywords: bottom of the economic pyramid; BOP; entrepreneurship; Ghana; poverty; emerging markets. Reference to this paper should be made as follows: Acheampong, G. and Esposito, M. (2014) ‘The nature of entrepreneurship in bottom of the pyramid markets’, Int. J. Entrepreneurship and Small Business, Vol. 21, No. 4, pp.437–456. Biographical notes: George Acheampong is a PhD candidate and Fellow of the University of Ghana and University of Copenhagen. He is also a DANIDA BSU/GEP Scholar. His interests are in how private enterprise can contribute to African development. Some issues of interest include enterprise development, ethnography and innovation; social network politics and analysis; institutionalism; experimental designs; informal, BOP and rural economy and patterns of poverty. Mark Esposito is an Associate Professor of Business and Economics at Grenoble Graduate School of Business in France and a Senior Associate for the University of Cambridge Program for Sustainability Leadership in the UK. He