Take Advantage Of Gov’t Funds For SMEs – Regional Minister

ERIC-OPOKU1The Brong-Ahafo Regional Minister, Eric Opoku has urged Small and Medium sized Enterprises (SMEs) to take advantage of existing government funds for the sector to boost their operations.

He mentioned some of the funding sources available to business as the Export Trade, Agricultural and Industrial Fund (EDAIF), Youth Enterprises Support (YES) scheme, Rural Enterprises Programme and MASLOC which SMEs must take advantage of.

The Regional Minister was addressing a business forum organised by the Regional Coordinating Council and a Sunyani based consultancy firm TKC Consult at Sunyani.

It was among other things to create a platform for the business community in the Brong-Ahafo region to dialogue and solicit practical solutions to challenges impeding business activities in the region.

He however, expressed concern about the failure of some loan beneficiaries to pay back loan facilities on time and urged the defaulters to repay in order to encourage banks and other lending institutions to further support other needy business actors.

Mr. Opoku entreated smaller businesses to consider mergers or partnerships to enhance their operations.

He said mergers and partnerships would not only make businesses bigger but also augment their resources and financial capital base.

This, he noted, would give them a wider outlook to access bigger credit facilities, larger markets as well as reduce cost of production.

He emphasized that the private sector plays a pivotal role in achieving sustainable socio-economic development, hence government’s commitment to creating enabling business environment for SMEs.

“Realizing the strategic importance of the private sector in our development process, the government promulgated the Public-Private-Partnership (PPP) policy to further demonstrate its commitment and unambiguous support to the sector,” he stressed.

From Daniel Dzirasah, Sunyani

 

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