Government is being challenged to make funding more accessible for SME’s to enable small businesses make substantial contributions to development.
Speaking to JoyBusiness on the sidelines of the International Youth Empowerment Summit (IYES) 2017, CEO of Kharis Group, Randy Osae Bediako, said it is imperative for government to see funding as a catalyst for innovation and development in the country.
He said, “A lot of great entrepreneurs are coming out of the country, however funding is a catalyst for ideas. The only challenge is funding and this is where government policies can come in.”
He touched on the issue of high interest on loans which is a deterrent for many entrepreneurs when raising capital to start their businesses. “I believe that if government can create policies that gives entrepreneurs access to funds, we can turn the nation around, within the shortest possible time.”
Founder of IYes Global Brian Amoateng, said it is important for entrepreneurs to hear the experiences from those who have scaled the daunting heights of starting and growing businesses in order for them to learn.
He said, “It is a very important time for entrepreneurs to hear the experiences and failures of those who have gone through the mill, so they know that they can do what they have set out to do.”
Mr. Amoateng said, “It is a crucial time for entrepreneurs who have watched power houses of entrepreneurs lose their businesses in the past few weeks, however this summit will let them know that they can achieve their goals despite the hard ship”
Meanwhile, the Minsiter of Youth and Sports Isaac Asiamah disclosed that government plans to implement a compulsory volunteer program for entrepreneurs geared towards promoting a culture of volunteerism in the country.
An estimated one thousand youths are expected to be at this year’s conference which features renowned pastors, motivational speakers, politicians and several celebrities such as Bishop Tudor Bismark (Zimbabwe), Dr. Frank Ofosu Appiah (USA), Prophet Daniel Amoateng (UK), Dr. Sonnie Badu (UK), Adwoa Safo (Ghana), Former first lady Nana Konadu Agyemang Rawlings, ace journalist Anas Aremeyaw Anas (Ghana), actor and politician Desmond Elliot (Nigeria) and many more.