SMEs being empowered for sound business mgmt

Accra, April 25, GNA - Unique Trust Financial Services on Wednesday started the first of a series of capacity training workshops for about 50 entrepreneurs in the Small and Medium Enterprises (SMEs) sector. The training on the theme, "Creating Wealth through Sound Business Management," is aimed at equipping and sharpening the skills and capacity of SME entrepreneurs in risk taking, opportunity seeking and initiative, goal setting, systematic planning and monitoring, keeping business records and working capital management.

Speaking at the opening ceremony, Nana Tweneboah Boateng, Chief Executive Officer of EMPRETEC, Ghana, noted that African governments merely tagging the private sector as the engine for economic growth was inadequate.

Governments must move from rhetorical declaration to establishing the necessary social and economic conditions for the private sector to thrive. These include human resources development, upgrading of the knowledge level of SME operators and ensuring favourable marketing opportunities.

Nana Tweneboah Boateng said making funds available to private sector operators was not enough. "Governments must empower them through injection of appropriate technology and creating leeway for economic emancipation of businessmen and women."

Mr Prince Kofi Amoabeng, Chief Executive Officer of Unique Trust Financial Service, urged businessmen and women to adopt realistic business programmes.

He said most people were not realistic due to their upbringing "which stops you from seeing what is on the ground". "We grow up fearing the authority of all forms...fear restricts us from challenging powers either at the cooperate level or the governance stage," he said.