Wealth Vision Financial Services Limited (WVFSL) in collaboration with the University of Professional Studies, Accra (UPSA) have rolled out a programme to improve the business management practices of SMEs in the country.
The weekend course seeks to transform Small and Medium Scale Enterprises (SMEs) into viable businesses under the Micro Private Equity (mPE) concept.
SMEs contribute significantly to the economic development of every nation.
In Ghana, 92% of registered companies are SMEs, which offer 85% of employment in the manufacturing sector.
SMEs also contribute about 70% to the Gross Domestic Product (GDP), making the sector a major player in job creation, income generation and economic growth.
The sector is however saddled with a number of challenges affecting its rapid growth in Ghana, key among them are difficulty in accessing capital and insufficient business management skills and practices.
The WVFSL-UPSA partnership, therefore, seeks to create a pool of Associate Management Consultants to assist SMEs to improve their business processes and practices prior to the injection of equity.
President of WVFSL, David Kofi Wuaku in an interview with the press reiterated the course aimed at helping business in Africa especially Ghana to move from small and medium scale to the Industrial and large scale level where jobs can be provided to the larger population for economic growth
“Over the years we have seen many businesses exist and the concept around its establishment is mainly for survival and taking care of their family. Most of them have not grown into a higher level and their best level is their children taking over. We want to assist these businesses to expand to a global level.
“We will help them have needed management strategies in place, marketing strategies, good accounting strategies in place and making sure every investment put in the business yield the necessary value expected,” he said
Mr. Wuaku urged the public to inquire about mPE and participate in the course stressing that Government has done its part over the years to assist private Businesses to grow and cannot be left alone to do it.
“Businesses do not thrive only with Government policies and financing but it’s about our personal decision to make it right,” he said.
Mr. Benjamin Osafo, Director of Business Development Centre, UPSA said collaborating with WVFSL as a form of Public Private Partnership will strengthen Ghana by creating jobs and value for businesses.
“As a Business school, we see this also as a social responsibility by giving back to society what we profess to be. Over the years we have seen many businesses exist and the concept around its establishment is mainly for survival and taking care of their family. Most of them have not grown into a higher level and their best level is their children taking over. We want to assist these businesses to expand to a global level.
“We will help them have the needed management strategies in place, marketing strategies, good accounting strategies in place and making sure every investment put in the business yield the necessary value expected,” he said
The course content of the eight-week training program includes: Overview of SMEs in Ghana; Contemporary issues of Entrepreneurship and how to overcome them; Credit and institutional support for SMEs, Marketing research analysis and branding; Business ethics, etiquette and Professional development; Change management; Introduction to mPE Concept; Record Management; Practical Finance; Legal framework for business (mPE) and Wealth creation.
