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Government committed to revamping
businesses - Minister
Dormaa-Ahenkro (B/A), Nov. 21, Ghanadot/GNA - Mr Kwaku
Agyemang-Manu, Deputy Minister of Trade, Industry and
President's Special Initiative (PSI), has reiterated the NPP
government's commitment to revamping small and medium scale
businesses to become responsive to Ghana's quest to gain a
middle-level income status.
He said the government had in line with this commitment
adopted policies and programmes including easy access to
loan facilities and the establishment of Business Advisory
Centres at the district level to provide technical advice
for the growth and proper management of small and medium
scale enterprises (SMEs).
Mr Agyemang-Manu was addressing the opening of a one-day
sensitisation workshop on SMEs' access to finance for 40
selected business proprietors and traditional leaders drawn
from Dormaa District at Dormaa-Ahenkro in Brong-Ahafo.
The workshop was organized by the Trade Ministry and
facilitated by the National Board for Small Scale Industries
(NBSSI).
Topics treated included: "Sources of financing SMEs", "Micro
finance and Small Loans Centre facility (MASLOC)" and "The
banker's viewpoint of SME financing".
Mr Agyemang-Manu said the sensitisation workshops, being run
in Brong-Ahafo, Ashanti and Western regions, were designed
to equip participants with requisite courage to take
advantage of the government's prudent fiscal policies and
access loans to expand and manage their businesses
efficiently.
"Apart from the government's immense financial support,
private entrepreneurs could go into equity participation to
provide the necessary capital base for the enhancement of
their businesses", Mr Agyemang-Manu noted.
He called on the participants to spread the knowledge
acquired at the workshop to their colleague business
proprietors who did not have the opportunity to be part of
the workshop.
Mr Dawarnoba Baeka, Director of Policy Planning, Monitoring
and Evaluation of the NBSSI and resource person for the
workshop, announced that more than 90 percent of industries
in the country were small scale.
He said apart from the basic problem of finance, businesses
in Ghana were also faced with the lack of management skills
and the lukewarm attitude towards capacity building for
personnel.
Mr Baeka said these and many other teething problems
including the lack of technical know-how, businesses in the
country were left at the mercy of rudimentary technology of
trial and error.
He said apart from the lack of records on businesses and the
apparent distaste among Ghanaians towards savings, the
period preceding the NPP rule was also characterized by
unfavourable loan conditions, which scared businesses.
The NBSSI Director noted that currently several facilities
did not require any collateral and urged participants to
take advantage of the congenial atmosphere and improve their
businesses.
Mr Baeka urged businesses in the area to liaise with the
Dormaa District officer of the BAC for all necessary
information for the growth of their businesses.
Squadron Leader (rtd) Ben Anane Asamoah, District Chief
Executive, noted that the workshop was timely and relevant
to the growing desire of businessmen and women in the
District to get their venture to the next level.
He said with the exposure, people with entrepreneurial
acumen in the District would access loans with ease and
improve their businesses.
The Dormaa-Ahenkro Branch Manager for the Agricultural
Development Bank, Mr C K Tieku, reminded business owners
that records and accounts were mirror images of their
businesses.
He said what the banks expected from business owners who
require financial assistance were commitment, honesty and
convincing business plan.
Madam Mary Yeboah, Dormaa District Officer in-charge of
MASLOC said the Centre gave loans to businesses, especially
farmers, irrespective of social status and political
affiliation.
She said all that the Centre expected from the beneficiaries
was honesty and timely repayment of the loans.
GNA
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