Ghana plans to hand out six billion cedis worth of cheap loans to help small business owners across the country. Trade Minister Elizabeth Ofosu-Adjare made the announcement during Friday's celebration of Small Business Day at a big meeting. The government wants to reach 100,000 tiny companies over the next three years. Women and young entrepreneurs will receive most of the money through this massive funding push. Officials hope this cash injection will fix the money problems that hurt small businesses every day.
Small companies struggle to find affordable loans from banks and face tough rules that slow them down. Many business owners cannot use computers properly or access digital tools that could help them grow. The minister said creative entrepreneurs already use WhatsApp and mobile money to reach more customers. Government workers want to build three special business parks where companies can share expensive equipment. They also plan to cut paperwork delays and costs for thousands of businesses.
Margaret Ansei from the business development agency explained how important these small companies are to Ghana. Tiny businesses make up almost all registered companies and create most jobs for factory workers. These enterprises bring in seven out of every ten cedis the country earns each year. The agency will launch a computer system that helps business owners find support services faster. Development partners from Europe and other countries joined the celebration to discuss ways to help entrepreneurs succeed.
Small companies struggle to find affordable loans from banks and face tough rules that slow them down. Many business owners cannot use computers properly or access digital tools that could help them grow. The minister said creative entrepreneurs already use WhatsApp and mobile money to reach more customers. Government workers want to build three special business parks where companies can share expensive equipment. They also plan to cut paperwork delays and costs for thousands of businesses.
Margaret Ansei from the business development agency explained how important these small companies are to Ghana. Tiny businesses make up almost all registered companies and create most jobs for factory workers. These enterprises bring in seven out of every ten cedis the country earns each year. The agency will launch a computer system that helps business owners find support services faster. Development partners from Europe and other countries joined the celebration to discuss ways to help entrepreneurs succeed.
