Minister for Business Development has revealed plans to engage tertiary graduates to train small and medium business operators to be able to write good business plans.
Ibrahim Awal Mohammed says between 1,000 and 2,000 young graduates will be trained for the project by end of the year.
He observes the capacity of businesses to produce good plans, especially, for financial support is very low.
“We want to train a lot of graduates about 1000 to 2000 young people, who will go round and help businesses to do their business plans.
“Business plan is the basis for every business”
The project which is expected to begin by end of 2017 will be free.
The Minister says the move has become necessary because most banks complain businesses are unable to secure loans because they come with poorly written business plans.
According to him, the Ministry will place premium on the initiative to make Ghanaian businesses more globally competitive.
“We are going to support young people, train them on how to do business. They will go round all the regions and support our mothers, brothers and sisters and sons to do very good biz plans”.
This he says will help businesses to get support from banks and other donors.
Chief Executive of Kumasi Metropolitan Assembly, Osei Assibey Antwi observes it is the reason Ghanaian businesses cannot secure foreign contracts compared to other African counterparts.
“If there is any country that succeeds in getting businesses because of the way they are able to get businesses is Nigeria.
They pay a lot of attention in reshaping their business plans and that guides them”.
Ghana Manager for Invest in Africa, Sam Brandful says it is encouraging that government has put in efforts to address the challenge.