A large number of entrepreneurs and small and medium-sized business owners have participated in Telecel Ghana’s Business Runway in Takoradi, describing the engagement as an eye-opener on what it takes to move their businesses beyond survival.

The programme, held in the Western Region for the first time as part of Telecel’s SME Month activities, brought together entrepreneurs, business leaders and experts for practical discussions on financing, digitalisation, marketing, tax compliance, leadership and access to markets.

The initiative was held under the theme “Connect to Growth: Unlock More.”

For many participants, the sessions offered practical lessons on challenges they encounter in their businesses but often struggle to address.

The Chief Executive Officer of Telecel Ghana, Ing. Patricia Obo-Nai, said the company’s decision to bring the Business Runway to Takoradi was intended to take its SME support closer to businesses outside Accra.

She said many entrepreneurs have passion and good products but face difficulties with visibility, accessing new markets and acquiring the practical skills required to grow.

The Business Runway, she explained, was therefore designed to connect SMEs with the knowledge, tools, networks and opportunities needed to unlock further growth.

W/R Minister Urges Entrepreneurs to Focus on SMEs

The Western Regional Minister, Joseph Nelson, said the focus on SMEs was particularly important to the region given its significant economic potential.

According to him, the Western Region has opportunities across oil and gas, mining, agriculture, agro-processing, manufacturing, tourism and logistics.

He said the challenge was to ensure these opportunities translate into sustainable businesses, jobs and wealth for people in the region.

“Small and medium-sized businesses remain critical drivers of economic growth. However, many entrepreneurs face challenges with access to finance, markets, skills, technology and business networks,” he said.

Mr Nelson urged entrepreneurs to formalise their operations, invest in skills and technology, understand their markets and seek opportunities to add value to products and services.

He also called for stronger collaboration between government and the private sector to create an environment where businesses can start, grow and compete beyond their immediate communities.

For entrepreneur and Founder and Executive Chairman of McDan Group, Dr Daniel McKorley, one of the biggest lessons for SMEs is that access to finance does not automatically translate into business growth.

He challenged entrepreneurs to first determine what additional capital would achieve before seeking funding.

“There’s a big difference between needing money and knowing what to do with money,” he said.

Business Owners Urged to Understand their Revenue

Dr McKorley urged business owners to understand their revenue, costs, profits, cash flow, receivables and liabilities before taking on financing.

He also emphasised the importance of people and systems as businesses expand.

According to him, many businesses struggle when they move from the founder-led stage into an organic growth phase without establishing proper structures and corporate governance.

“What actually builds a lasting company is not strong personality. What builds a strong company is systems and structures,” he said.

He further encouraged entrepreneurs to use technology to solve specific problems rather than adopting digital tools simply because they are fashionable.

Artificial intelligence and other digital solutions, he noted, can help businesses with research, marketing, customer communication, data analysis and repetitive processes.

But technology, he cautioned, cannot compensate for poor leadership, weak financial discipline or a business that does not understand its customers.

Participants at the Business Runway welcomed the practical nature of the programme, with several describing the sessions as an eye-opener.

For some entrepreneurs, the discussions offered new perspectives on managing finances, using technology, building teams and positioning their businesses for growth.

The networking opportunities also allowed business owners to connect with other entrepreneurs and potential partners while exploring opportunities beyond their existing markets.

Telecel Ghana says it remains committed to supporting SMEs through reliable connectivity, digital solutions and programmes that provide entrepreneurs with knowledge and networks to grow their businesses.

The company also reiterated its commitment to continued investment in Ghana’s digital infrastructure and to developing solutions that can improve productivity and enable businesses to participate more effectively in the digital economy.

For participants, however, the real test begins after the Business Runway  applying the lessons from the sessions to improve their businesses.

And the message emerging from the engagement was clear: starting a business may be the first step, but building one that can scale requires the right financing, people, systems and technology.