ModernGhana logo
30.03.2005 Regional News

Enterprises call for more funding

Listen to article

Sunyani March 30 GNA - Participants at a one day workshop for small and medium scale enterprises in Brong Ahafo have called for adequate financial assistance to facilitate the expansion of their businesses.

The 70 participants at the workshop, organised by Empretec business forum in Sunyani expressed their dissatisfaction that despite the important role that the enterprises played in national development, their inability to access adequate credit facility had hampered their operations.

They appealed to the financial institutions to consider their plight and eliminate stringent lending conditions so the enterprises could be sustained.

Mr. Kofi Adimako, a consultant at Candid Financial and Management in Accra pointed out that the primary concern of the banks were how to recoup loans granted since they were also desirous of satisfying its stakeholders.

He advised the enterprises to separate their personal and business expenses for the growth and development of their businesses. Mr. Adimako debunked the perception by some borrowers that their loans must be approved as long as the borrowers had accounts, high credit/debit turnover as well as collateral security.

In a brief history about the forum, Mr. James Ato Hinson, Executive Director, said it was a reputable business association of entrepreneurs and enterprises that aimed at assisting business enterprises, particularly small and medium enterprises to run effective operations.

He said since the inception of EMPRETEC Business Forum in 1993 it had trained about 2000 personnel of such enterprises under specific programmes.

The Association has established four chapters in Ashanti, Greater Accra, Western and Central Regions, adding a chapter would soon be instituted in Brong Ahafo, Mr. Hinson said. He entreated the participants and other small and medium enterprises in the region to join the association for the growth and development of their businesses.

Mr. Felix Quansar, resource person of F.P. Quansar Resource in Accra took the participants through the competitiveness of the financial market environment, report on study of difficulties in accessing finance for development of small and medium enterprises in Ghana.

Dr. Kwasi Nsiah-Gyabaah, Principal of Sunyani Polytechnic, who presided, advised the participants to implement the knowledge acquired to enhance their businesses.

ModernGhana Links

Join our Newsletter