Business

Informal businesses struggling to scale up - Survey

A survey conducted under the Growing Economic Opportunities for Sustainable Development Project (GEOP) has showed that many businesses in the localities are not formalised, making it difficult for them to grow.

Due to the informal nature of the businesses in the local assemblies, the survey showed that it was difficult for investors to commit resources towards their growth.

The GEOP is a project aimed at supporting local economic growth by creating economic opportunities for young people and women in the informal sector with an objective of fostering strong civil society and local authority partnerships.

The partnerships are meant to promote local job creation, revenue mobilisation and expansion of economic activities in an environmentally sustainable manner in the Ellembelle District of the Western Region and in Ayawaso East and Ablekuma South sub-metros in Accra Metropolitan Assembly (AMA) by the end of 2019.

The survey carried out by Christian Aid, the lead partner and partners in the project was presented at a district policy dialogue in the Ayawaso East municipality was aimed at monitoring local public service delivery for businesses within the project areas.

In an interview with the Ghana News Agency after presenting the findings, Mr Osman Abubakar Sadick, the Project Officer said the rationale was to find out what was not working or what was up in terms of local business within the target project areas.

He said the survey, which was carried out in the early part of 2019 also showed that many of the focused businesses did not have business bank accounts neither did they have a business plan, adding that, some had not even registered their operations and name with either the Registrar General’s Department or the Assembly.

He said there was the need for collaboration between the Assembly and key stakeholders to improve the local business environment for the small businesses in the project areas to grow.

He said there was the need to help local businesses from within the local environment especially with the issue of market association, regular contributions such as dues payment could be geared towards building a urinal.

This, he said could encourage the Assembly to come and assist in making it better for use as the Assembly had a number of pressing issues to deal with.

GNA

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