Support small-scale industries

Dr Bernard Otabil(left),MD,GNA addressing the seminar.Those with him Ms Jeanne Clark(middle) Information Officer,US Embassy and Mr Joel Wiegert(right).Photo.Ebo GormanAn Economist at the United States Embassy, Mr. Joel Wiegert, has urged government to attach great importance to the development of Small-Scale Industries (SSIs) to enhance their competiveness on the international market.

He said the SSIs could perform better when given equal opportunities of access to capital as enjoyed by its counterparts in Europe.

Speaking at a day’s workshop on entrepreneurship organised by the embassy in collaboration with the Ghana News Agency (GNA) in Accra, he noted that between 1995 and 2003, SSIs contributed about 66per cent of revenue to the United State economy.

He said the percentage was sixteen times higher than what major companies contributed to the economic development of the US, noting that Ghana could benefit from SSIs immensely by supporting them.

Mr. Wiegert added that there was the need for government to support SSIs to export their products to the international market adding that 40per cent exports from the US were products of SSIs.

He noted that among other things, high interest rate had become the major problems facing SSIs in Ghana and most African countries.

A Business Consultant, Mr. Francis Andoh noted though, the lack of capital to establish a business had become a challenge.

He said entrepreneurship was a risky initiative adding that it was advisable to start with little funds.

The Chief Executive Officer of the Ghana News Agency, Dr. Bernard Otabil, advised participants to be innovative by coming out with their own business plans.

He said the rationale behind the workshop was to guide the youth to become future entrepreneurs.

By Bernard Benghan

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