Budding, but a crack group of entrepreneurs held a meeting Friday February 29, 2008 at the Sunlodge Hotel at Tesano, Accra, to brainstorm on ways of raising money for their business ideas.

The group is the Believe Begin Become (BBB Alumni) Association. This group is made up of graduates of the prestigious Ghana Business Plan Competition organised by Technoserv Ghana and sponsored by Google.org. The group consists of year 2006 and 2007 graduates and winners.

Members of the group, as part of the competition, take a seven week intensive course in business management and the course has been described as a mini-MBA programme.

Competent professionals and consultants, including lecturers in the business sector of Ghana serve as lecturers for this course. At the end of the course, participants produce solid and ‘bankable’ business plans which are ready for implementation.

There are three stages in the competition. Those who make it to the third and final stage earn for themselves start-up capital and business advisory services.

At this meeting, representatives of two venture capital organisations presented their companies’ products to the group.

During the meeting, however, it became obvious that, as always, the challenge most Ghanaian entrepreneurs face is, no matter how good and promising one’s business idea is, and no matter how good one’s business plan is, raising the necessary funding to give the business a kick-start is always a headache.

Some of the participants, who graduated in 2006 with ‘bankable’ business plans, are still scratching their heads over where to raise the money for their businesses.


By: Emmanuel K. Dogbevi