Business News of Thursday, 19 February 2015
Source: Seth Krampah
Small and Medium Enterprises, SMEs, in the world have a very essential role to play for the growth of every economy.
In spite of the immense contribution SMEs make to the economy, there are numerous challenges that confront SMEs worldwide and Ghana is no exception.
These challenges range from inadequate access to finance, access to credit facility insufficient market support in an increasingly competitive environment, poor accounting culture, lack of entrepreneurial knowledge among others.
One major challenge for SMEs the world over is inadequate funds to expand their operations and also to compete with relatively larger businesses. Certain efforts are being made to help alleviate this problem through avenues such as Venture Capital firms.
It is therefore in this regard that JCS Investment Limited has come up with an initiative that will give players in the Small and Medium Enterprise sector of the economy the chance to make known the individual challenges that confront them in their business operations.
The initiative which is dubbed SMEs Nkasa (SMEs Speaks Out) is a non-profit initiative to provide an electronic platform that will give the opportunity for SMEs to express the challenges and frustrations they encounter in their operations.
The initiative is collectively to bring about change within the SME sector and also create an enabling environment for Small and Medium Enterprises to thrive.
Potential benefit of this project include creating employment in Ghana, increasing government revenue base as well as reducing importation into Ghana
This initiative will also be pushing for changes in legislation; for example SMEs using 98% of local raw material for production should be given tax breaks and many more which will be debated upon on the various platforms.
SME operators have therefore been urged to get actively involved in this laudable initiative to make a positive and impact.
JCS Investments Limited is a Social Investment Organization licensed by the Securities and Exchange Commission as an Investment Adviser. The Company, which was established in 2004, is focused on providing sustainable long term investment, optimum return and ‘triple bottom line’ value to its shareholders.
JCS Investments specializes as an important player through extensive research and identifying financial institutions with the objective of making positive impact in our society.
JCS Investments also channels funds from local and external investors into high impact financial institutions and SME projects in Ghana.
One of the Company’s areas of expertise is to specialize in rural investment and work closely with likeminded investors and institutions to create impact in the sub region.
The Company has been a catalyst in working with Bank of Ghana to modify the laws to enable foreign institutional investors to invest in the rural banking sector.
JCS Investment also promotes investments in rural areas, agribusiness and the renewable energy business.