The Kumasi Zonal Office of the Office of the Registrar of Companies (ORC) has embarked on a sensitisation campaign to encourage small and medium-sized enterprises (SMEs) to formalise their businesses through registration, in order to improve access to loans, government support packages, and business opportunities.

The exercise, held in the Adum and Bantama business areas of Kumasi, forms part of the ORC’s public education drive on the theme: “Building Awareness, Driving Change.”

Yvonne Adjimah Adjare, Head of the Kumasi Zonal Office of the ORC, said many traders and small business operators continue to face challenges in accessing credit facilities because they lack proper business documentation.

She explained that registered businesses enjoy several benefits, including access to government support programmes, financial assistance from banks and microfinance institutions, legal recognition, and increased trust from suppliers and customers.

Speaking during an engagement with traders and business owners, Adjare stressed that business registration is essential for enterprises seeking growth and sustainability in Ghana’s competitive business environment.

According to her, many small businesses are losing valuable opportunities because they operate informally without legal backing.

She noted that most financial institutions require proof of business registration before granting loans or business support packages.

Adjare further explained that formalising businesses protects business names from duplication and provides legal recognition for operations.

“Business owners who formalise their enterprises are better positioned to expand, enter contracts, and attract investors,” she stated.

She encouraged market women, food vendors, mechanics, hairdressers, fashion designers, and other informal sector operators to take advantage of the simplified registration processes introduced by the ORC.

The ORC Head said registration procedures have become faster and more accessible through digital platforms and zonal offices across the country.

She explained that entrepreneurs can register as sole proprietorships, partnerships, or limited liability companies, depending on the nature and size of their businesses.

Adjare assured prospective applicants that ORC staff are available to assist them throughout the registration and documentation processes.

She expressed concern that some traders still perceive business registration as expensive and complicated, but noted that registration fees for small businesses remain affordable.

According to her, the long-term benefits of formalisation far outweigh the initial registration costs.

She also advised business owners to regularly file annual returns and update company records to avoid penalties and possible legal challenges.

Adjare said compliance with business regulations would help improve transparency and accountability within the private sector.

She reaffirmed the ORC’s commitment to continuous public education and outreach programmes aimed at increasing awareness of the importance of business formalisation to national development.

Adjare, who is also a Principal State Attorney, explained that the Office of the Registrar of Companies operates under the Companies Act, 2019 (Act 992) and is responsible for the registration and regulation of businesses and corporate entities in Ghana.