Lack of information and data a bane to SMEs

Takoradi - Mr Ato Panford, the Chief Executive Officer of A. A. Panford Company, has said lack of accurate information about small and medium scale enterprises (SMEs) had made it difficult for them to secure funding and partnerships.

He said this could be reversed if detailed business plans, profiles, location of the business and other relevant information were available to Ghanaians and foreigners.

Mr. Panford said this during the introduction of a 200-page guidebook on Sekondi/Takoradi metropolis and its environs at Takoradi on Tuesday. He said the guide would expose the rich tourism, business environment, investment opportunities, human and natural resources, socio-cultural institutions and organisations and the political administration of the metropolis.

Mr. Panford appealed to Ghanaians to patronise made in good goods and change their dependence on imported foods and drinks.

"We need to value Ghanaian products and goods to sustain local SMEs." Mr. Philip K. Nkrumah, Metropolitan Chief Executive in an address read for him, said the guidebook would market the metropolis to the outside world.

He said the book should aim at unearthing all the history of the metropolis as the country prepares for its 50th anniversary. Mr. John K. Koomson, Manager of the Takoradi Business Advisory Centre (BAC), said the centre has allocated 200 million cedis in its 2007 budget for training and support for SMEs.

He said a special fund would also be launched next year to assist distressed SMEs through research, promotion and training. 20 Dec 06