An Associate Professor of Development Economics at the University of Ghana has blamed the failure of majority of Ghanaian startups on shortfalls in available interventions.
Speaking on the Super Morning Show, on November 25, 2021, he stated that the issue with startups has been that entrepreneurs are provided capital to start businesses, but they are not given other support in terms of capacity building, and challenges they are likely to face and how to deal with them.
Hence, "the failure of startups to move on and become viable enterprises."
He was contributing to discussions that centered on the government's latest intervention aimed at bridging the unemployment gap in the country.
Government has introduced an initiative dubbed 'YouStart' which will provide one million jobs for the youth of this country.
According to Finance Minister, Ken Ofori-Atta, who announced the programme during the presentation of the 2022 budget in Parliament, stated that 'YouStart' is a vehicle for providing young entrepreneurs access to capital, training, technical skills, and mentoring to enable them operate their own businesses.
He lauded the government for incorporating training into the 'YouStart', which according to him, has been a missing but very essential factor for the growth of every business.
He expressed the view that every entrepreneur, aside from being provided financial support, should be introduced to good business plans, trained on the ecosystem that they are going to go into for them to know the challenges they are going to be facing and how they are going to survive those obstacles.
He further noted that the 'YouStart,' will be enough to get government to achieve its 10-year target of creating 10.5 million jobs.
Latest Stories
-
Which will you vote for in 2024 Election: Honesty, Character, or Campaign Promises?
3 hours -
The ball is in Iran’s court after US pressure pays off
4 hours -
‘Japa’ sweeps Nigeria’s hospitals
4 hours -
Obuasi: Catholic Voices GH choral peace concert unites NPP, NDC
4 hours -
Lordina Supports NDC campaign in Ketu North with donation of medical equipment to Afife Health Centre
4 hours -
MTN Foundation delivers crucial technology tools to Eastern Regional Hospital
4 hours -
Galien Forum Africa: Enhaning African women’s role in climate and environmental crises
10 hours -
7th Galien Africa Forum ends with emphasis on health, innovation, and climate action in Africa
10 hours -
Ruthless Barcelona thrash Real Madrid to go 6 points clear
11 hours -
National Farmers’ Day scheduled for November 8
11 hours -
Samson’s Take: Why over 75% vote but only 5% join protests
12 hours -
Krachi East Chiefs applaud Bawumia for campaigning on issues with evidence
13 hours -
National Security Ministry dismisses Reuters’ claims that militants are using Ghana as logistical base
13 hours -
BOST and its CEO win big at 8th Ghana Energy Awards
15 hours -
Accused person in protest over alleged $3m BOST scandal discharged
15 hours