Dr Gideon Amenyedor, Chairman of the Tema Regional Branch of the Ghana National Chamber of Commerce and Industry (GNCCI), has pledged to tackle critical issues affecting the Chamber, with the ultimate goal of promoting business growth and trade in Ghana’s economy.
Speaking at the launch of the SMEs (Small and Medium-sized Enterprises) Needs Assessment in Tema, Dr Amenyedor emphasized the importance of SMEs identifying and addressing their challenges to attract donors. To achieve this, the Chamber collaborated with a well-experienced research organisation, which conducted a comprehensive study on the problems faced by SMEs.
The report, completed within six months, highlights key challenges, including:
– Finance: Access to capital remains a significant problem
– Technology: Adopting and leveraging technology is a major hurdle
– Infrastructure: Poor road conditions affect staff movement and operations
Dr Amenyedor is committed to tackling critical issues before his tenure ends in a year and a half, out of the two years.
According to Dr Albert Gemegah, Lead Researcher and Dean of School of Research and Graduate Studies at Wisconsin International University College, Ghana, the study employed a survey methodology, utilizing Google Forms to accommodate busy respondents. The survey uncovered several challenges, including:
– Access to finance
– Regulatory issues
– Access to market
– Correct usage and efficiency of technological tools
Dr Gemegah noted that a significant issue facing SMEs is the availability of skills to support their growth. To address these challenges, the study proposes several solutions, including:
– Access to finance
– Navigating complex regulatory environments
– Capacity building
– Breaking market barriers
Dr Gemegah recommends that policymakers examine the unique needs of various sectors and provide tailored support.
In a related development, Richster Nii Amarh Amarfio, Director of Operations at Laif Fisheries and Vice President of the National Fisheries Association of Ghana, as well as the Member of Parliament (MP) representing Tema East, has sounded a warning call to the government to address the pressing issues affecting industries in Ghana.
“The government must take immediate action to address the challenges facing our industries,” Amarfio stressed. “If we fail to address these issues, industries may struggle to produce, leading to employees suffering from cost-cutting measures.”
Amarfio attributed the disparity in wages between Ghanaian industries and their foreign counterparts to a deeply ingrained poverty mentality in Ghana. He urged the government to take proactive steps to revamp the industrial economy, making it profitable for entrepreneurs to set up businesses in Ghana.
Alhaji Narshiru Abacham, Chairman of Fannash Company Limited and a member of the Chamber, welcomed the report, attributing the findings to the retardment of their businesses. He called for the implementation of the suggested solutions, emphasizing that failure to do so would render the research futile.
“We cannot afford to let this report gather dust on the shelves,” Alhaji Abacham stressed. “We need to take immediate action to address the challenges facing our businesses. The report has highlighted critical issues that need to be tackled, and we must work together to implement the proposed solutions.”
In conclusion, the Tema Regional Branch of the GNCCI is committed to addressing the critical issues affecting SMEs in Ghana. With the launch of the SMEs Needs Assessment report, the Chamber has taken a crucial step towards promoting business growth and trade in Ghana’s economy. By working together with policymakers, industry leaders, and other stakeholders, the Chamber aims to create a more conducive business environment that supports the growth and development of SMEs.
By: Longman & Ohene Kinnah
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