EMPOWERING S.M.ES WITH THE REQUISITE BUSINESS SKILLS FOR SUSTAINABLE GROWTH AND RESILIENCE.

Source: Philip omeano

Date: sept 15,2022.

Ghana National Chamber of Commerce and Industry in collaboration with Development Bank of Ghana organized a seminar Titled: ‘’Empowering S.M.Es with the Requisite Business Skills For Sustainable Growth And Resilience ‘’ for the small and medium business owners in the Sekondi-Takoradi Metropolitan Assembly (Western Region). On 15th September,2022.

There are a lot of resource personnel’s both banking and non-banking staffs who did an excellent presentation on what to do to access the loans from banks and what not to do in line of business aspect.

However, during the seminar business owners were taken through financial management function, financial statement analysis, risk management basic, why small businesses fail, how to break even in the business field, which relate to theory of the firm in business field and all the questions asked by the participants were answered correctly by the banking staffs. Apart from this, participants were encouraged to make their businesses focus on environmental, social and governance issues because it helps the investors or other stakeholders to know how the business owners manage risk and opportunities around sustainability issues.

The aim of this seminar is to help small and medium enterprises stand on their feets like never before through loans and also educate them on financial discipline in order to avoid collapsing of their businesses, this is because in Ghana small and medium owners often do not have access to the capital they need to grow and are often seen as too risky by banks, according to the Ghana National Chamber of Commerce and industry president Mr. Clement Osei -Amoako. He also lamented about the rate at which inflation is affecting goods and services in the country which has resulted high interest rate among banks in Ghana.

Moreover, some participants were interviewed and this is what they said.

I have learnt much about today’s seminar on environmental, social and governance practices so I encourage everyone to come on boards and experience it- Madam Nannybel Boakye.

This seminar has helped us a lot because it has opened our mind to know where we can invest our capitals and where we shouldn’t invest our capitals, we have been taught on environmental, social and governance practices, how to keep proper accounting records for transparency for loans. Development bank of Ghana has come to help us so I will advise anyone who has not joined the chambers to do so, to enjoy this benefit. -Mr. Jerry (Chicago enterprise).

In the nutshell, participants who were registered for the first time were giving ten percentage discount and the president of the chamber highly admonished everyone to take advantage of this.

 

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