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13.12.2007 Business & Finance

CIBA urged to seek advice from Assemblies before citing businesses


Members of the Council of Indigenous Business Association (CIBA) and the private sector had been advised to consult their Metropolitan, Municipal or District Assemblies in the citing of their business.

This would help avoid the situation where their structures are later broken down for lack of relevant documents.

The New Juaben Municipal Chief Executive, Nana Kwasi Adjei-Boateng gave the advice at the formal opening of a one-day workshop organized for members of CIBA at Koforidua on Monday.

He said 30 per cent of the internally generated revenue of the New Juaben Municipal Assembly comes from the members of the private sector and so the assembly have their interest at heart and would want to see everything done right.

Nana Adjei-Boateng said it was due to the respect that the assembly has for the private sector that it had been interacting with its leadership in the fixing of rates and rents every fiscal year.

He said the country has reached a stage where the assembly has to acquire and develop special places for the citing of such businesses.

The Executive Secretary of CIBA, Mr Ralph Ameyaw called on the members to enter into good employment contracts with their workers by defining the number of hours that they would have to work for a day.

He said it was not good enough for members to engage the services of their employees from 04:00 hours to 12 mid-night, and explained that such contracts were not often good to the health of the workers and also have a negative impact on productivity.

"After a certain hours of work, the employees start making mistakes, which affect productivity and therefore revenue and the profit margin".

Mr Ameyaw called on members of the Association to keep a good record of their work to enable them access loans from financial organizations.

He said next year, CIBA would create a platform to engage the Internal Revenue Services in discussions over the annual tax imposed on members of the Association.

The Eastern Regional Coordinator of Micro Finance and Small Loans Centre (MASLOC), Mr Dominic Ayim Baah said his outfit has financial support for individuals and groups.

He said under the individual loans facility, the beneficiaries would have to provide two guarantors while under the group loans system the group need no guarantors.

Mr Baah said MASLOC does not sell its application forms and that one does not need to pay money to any staff of the Centre to qualify for financial support.