Many young businesses struggle to survive beyond their early years due to limited managerial skills, weak financial systems and the inability to navigate an increasingly competitive business environment.

Stakeholders in the Micro, Small and Medium Enterprises (MSME) under Sinapi Aba Trust say structured business mentorship can help address these challenges and improve the prospects of emerging enterprises.

They insist mentorship provides entrepreneurs with practical skills, guidance and professional networks needed to manage business risks, respond to market challenges and position their businesses for sustainable growth.

The mentorship call was made at the graduation ceremony of the sixth cohort of the Sinapi Aba Trust/BMZ Mentorship Programme, which has trained 300 young women entrepreneurs in the informal sector.

Deputy Director of the Council for Scientific and Industrial Research (CSIR), Dr. Mrs. Patricia Acheampong, says mentorship goes beyond classroom training, as it provides entrepreneurs with trusted relationships that can help them identify and address challenges in their businesses.

“Mentorship is about relationships to help entrepreneurs grow their businesses. It is expected that the takeaways from mentorship will help them. With mentorship, there is someone you can talk to and trust who will encourage you to adopt models that will make your enterprise work.

“Effective mentorship can also prepare entrepreneurs for access to finance, as investors and financial institutions are more likely to support business owners who demonstrate the skills and systems required to manage their enterprises,” she said.

The Sinapi Aba Trust Mentorship Programme was established to bridge critical gaps that prevent entrepreneurs in the MSME sector, particularly women, from reaching their full business potential.

The programme has so far impacted more than 2,000 beneficiaries.

The six-month structured programme pairs experienced mentors with mentees and combines classroom-based learning with practical and informal training sessions.

Beneficiaries receive training in areas including fraud management, recruitment and employee management, customer service, financial management and other essential business skills.

The sixth cohort comprises 300 entrepreneurs.

Program Manager at Sinapi Aba Trust, Phyllis Desbordes, says the programme has evolved to create a sustainable support network among entrepreneurs.

She explained that one of the major developments in the latest cohort was the involvement of beneficiaries from previous cohorts as mentors.

“What we did this year that brought greater results is that we had mentees from previous cohorts becoming mentors and becoming hubs of support for new mentees,” she said.

Some beneficiaries said the programme had improved their ability to communicate with customers, maintain proper financial records and use digital platforms to market their businesses.

“It has helped me with communication with customers, book keeping, I have been able to open social media pages for social media marketing, financial management, which has helped me scale up. My advice to the women is that they should take advantage,” said a mentee.