[ 2014-09-21 ]

High productivity cost affecting local enterprisies
Accra, Sept. 20, GNA - Dr Tweneboah Senzu,
Managing Director, Bastiat Society Ghana, says
lack of access to finance, regulatory and
institutional environment, high productive cost
and low productivity are some of the macro-
economic finance challenges facing Ghana.

He also listed low productivity, entrepreneur
attributes, lack of access to appropriate
technology and the existence of laws, regulations
and rules that impede the development of small and
medium scale enterprises (SMES) sector and weak
institutional capacity as some of the setbacks.

Dr Senzu made this known during a maiden
entrepreneur conference of the Society, a liberal
economy think tank in Accra, on the theme:
“Reliable Alternative Solution for Business and
Principle of Wealth Making.”

He said globally SMEs are productive drivers of
economic growth and development, and fuel national
economic engine to accelerate achievement of
macroeconomic objectives.

He said in Ghana, SMEs are the cornerstone to
employment creation, accounting for 70 per cent of
Gross Domestic Product, 92 per cent of enterprise
within industry and more than 80 per cent of
employment.

Dr Senzu said Bastiat Society Ghana would use its
capacity, partners and affiliations both local and
international to develop systems and programmes
that would combat factors negatively affecting
Ghanaian entrepreneurs.

He said the society is developing a Business
Development and Research team, which would present
alternative solutions to the current national
power outage, which affects productivity.

Dr Senzu said the outcome would be accessible at
low cost.

He used the conference to present a research paper
proposing an ideal model of modern association for
business growth in 21st Century.

Dr Senzu said the doors of the society are opened
to partners that seek to compliment its efforts in
addressing the economic challenges that has denied
SMEs the ability to grow.

Source - GNA

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