Leading LTE data service provider, Busy, has held the third edition of its business networking event which focused on the need to for small businesses to innovate.

Last Friday’s event, just like the previous ones, generated discussions and ideas on how businesses can surmount some of the challenges they face in their bid to grow.

Speaking on the theme for the night, “Growing Your Business with Innovation”, a Founding Fellow of think tank, IMANI Centre for Policy and Education, and Strategy Director at mPedigree Network, Selorm Branttie, observed that the lack of robust intellectual property laws in Ghana stifles innovation.

However, Mr Branttie notes while it was unfortunate for a business innovation to be stolen by another entrepreneur even before it is rolled out by the originator, SMEs must not cease to create new ideas.

Innovation, he said, was an important driver of SME growth and sustenance.

To shield against the possibility of losing a new idea to another company or person, he urged entrepreneurs to ensure that the people they pitch their ideas to sign Non-Disclosure Agreements.

“Those Non-Disclosure Agreements are the first point of protection,” he said, adding that entrepreneurs should track and document the progress of their ideas in a way that will make it tenable in court when the need arises.

Head of Busy’s B2B, Rashida Yasmin Abdulai, explained Busy is committed to hosting the event every month because it offers the company an opportunity to give back to clients.

“Our whole plan is for Busy to become the next generation SME hub...the whole idea is to position our self as a youthful brand. We don’t want it to look like we always taking from our customers. We want to be partners with them,” she said.

Attendance to the monthly event is free and is interspersed with music, cocktail drinks and food.