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Business News of Thursday, 21 December 2006

Source: GNA

Tema SMEs can't expand their businesses

Tema, Dec. 21, GNA - Small and Medium Scale Enterprises (SMEs) in the Tema Municipality see growth towards expansion in their businesses an impossible task since to them access to credit still remained a mirage.

Almost all 11 SMEs Executives and members of the Ghana Journalists Association (GJA) visited on Wednesday to interact with in the Municipality said they were ready to expand but efforts made to secure loans had proved futile. The enterprises, some of which are into the manufacturing of simple tools and household items; clothing and textile and food and beverages, said they were aware of steps put in place by the Government to make accessible and affordable credit facility but the situation on the ground looked different.

The tour formed part of a GJA project launched by Vice President Aliu Mahama in May 2006 to use the media to promote activities of SMEs in the country. Other problems the enterprises mentioned were ready and good market for their products. They said usually the demand for their products was good but the price offered was not realistic given the high cost of production.

One major issue most of them raised was the high cost of doing business in the country. They said processes involved in registering businesses and products were not only cumbersome but also expensive.

Mr Dave Agbenu, Organising Secretary of GJA, and Mr Kwasi Afriyie-Badu, a consultant to the Association, led the team to tour the various SMEs, which included Gomashed Company Limited, producers of alcoholic and non-alcoholic beverages, and Bersama Enterprise producers of ointments. Others were David Tagoe Enterprise, a company which bottles and packages local palm wine; Devyx Textiles Weaving Company Limited, Sam Soap Industry, Special Touch Foods and Dua Ma Aduro Herbal Clinic.

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