Ghana Young Entrepreneurs (G.Y.E.), the largest network of young entrepreneurs in Ghana, has commended President Nana Addo Dankwa Akufo - Addo for creating the Ministry of Business Development.
The group said the initiative would ensure that the right environment created for players in the private sector to expand their businesses and contribute to job creation.
Speaking at its first national conference held in Accra, the Founder of the G.Y.E, Mr Abdulai Sherif Ghali, called on the designated sector minister, Mr Mohammed Ibrahim Awal to come out with innovative policies to boost local businesses. He further indicated that, they (G.Y.E) were ready to work with this government in empowering young entrepreneurs.
Mr Ghali observed that the way forward for the new ministry to live up to its mandate was for it to formulate policies that would ensure access to funding for businesses, while processes involved should be less stressful.
He further noted that motivating the youth to start their own businesses should begin at tertiary institutions where skills in entrepreneurship would be instilled in the students.
“While there is the need to infuse entrepreneurial skills through activism and mentorship sessions, it is equally necessary for investment and funding mobilization avenues to be made obtainable from government and private sources to support young entrepreneurs,” he said.
The Vice Chairman of the West African Young CEOs Business forum, Mr Kwame A. A. Opoku, said the best way for businesses to thrive was to pursue investment in legacy ventures.
“If businesses will have to be sustained in the country, we have to begin looking at investments that will be continued by future generations. To do so, we would have to delay instant gratification in order to make right investments,” he added.
The CEO of the Association of Ghana Industries (AGI), Mr Seth Twum Akwaboah, urged young prospective entrepreneurs to form partnerships and focus on creating networks to build their business ideas.
He said it was through partnerships that ideas and resources could be pooled to promote the growth of businesses.
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