Morkporkpor Anku, GNA
Accra, Sept. 21, GNA – Mr James Asare-Adjei,
the President of the Association of Ghana Industries (AGI), has urged
entrepreneurs to structure their visions properly and focus on developing them
to grow their businesses.
“You must have vision and stick to that, since
this will help you to identify opportunities and problem around it to make
money,” he explained.
Mr Asare-Adjei was speaking at the Enhancing
Growth In New Enterprises (ENGINE) scale up IV Awards ceremony, in Accra.
ENGINE is a business plan competition and
entrepreneurship development programme to award the most promising 100
entrepreneurs with funds to help them in financing the needs highlighted in
their business plans and to refine the business model for them.
It is a four and half year project being
implemented by Technoserve, with funding from the UK, and it seeks to equip
micro, small and medium enterprise with the necessary skills and resources to
improve their business plan and internal operations.
The awards are divided into three tiers; with
tier one awardees receiving £6,000, tier two taking £3,000 and tier three
awardees receiving an aftercare package.
He said the entrepreneur’s personal commitment
to work was a key ingredient to business growth and development.
The President of AGI, therefore, called on the
awardees to use the power of synergies to improve on their business operations
to develop the economy.
He said AGI, as an Association, was dedicated
to policy advocacy to advance the growth and development of industries,
providing members with a vast network of contacts, especially in the West
“Always bear in mind that there is always room
for improvement because you have a world to conquer so make it happen,” he
Mr Samuel Baba Adongo, the Acting Country
Director, Technoserve, said tier one and tier two category winners would be
receiving an additional 12 months aftercare in the form of mentoring,
networking and other business development services.
He said the aftercare would also provide
support to firms and foster an environment where start-ups and early stage
ventures would network among themselves to share ideas.
He said in the future, the management of the
programme wanted to see businesses and ideas that would champion the
transformation and impact on the economy.
The Acting Country Director said the programme
would also develop a robust system to respond to the particular needs of women
participants, adding that, they had noticed the poor culture of record keeping
among the SMEs.
Mr Adongo commended the UK Government for
supporting entrepreneurial development in the country.
Mr Jim McAlpine, the Head of Department for
International Development (DFID,) said SMEs were critical to sustainable
economic development in Ghana because they made up about 70 per cent of the
private sector in Ghana.
However, he said, the SMEs still faced many
challenges such as access to a diverse range of services that enabled them to
become more efficient and competitive, building their capacity and reducing
He said those challenges were the reason that
the UK Government was fully committed to supporting Ghana to create jobs and
reduce poverty through support for what was perhaps Ghana’s greatest asset,
“the entrepreneurial spirit of its people.”
Mr McAlpine said the DFID saw the ENGINE
programme as a critical component in our efforts to help.