Access to funding and export markets critical to SMEs growth – Participants

Participants at a just-ended training masterclass for SMEs have called for increased investment and market avenues to propel the growth and stability of Small and Medium Enterprises in Ghana.

Over the past few weeks, Zenith Bank Ghana in partnership with the World Trade Centre, Accra and Alibaba.com launched the “The Alibaba Global Seller Training E-Course Masterclass’’ to train SMEs in the country.

The partnership aims to provide resources, opportunities and expertise to help SMEs become successful and promote their businesses on the e-commerce platform.

A participant, Selasi Dzikunu speaking with journalists after the event urged for more platforms to be offered to small businesses in order to provide an opportunity to explore global markets where SMEs from Ghana can thrive.

“Access to markets has been vital for the growth of SMEs and I want to laud Zenith Bank, World Trade Centre Accra and Alibaba for offering this very educative platform. Another request will be that SMEs must be supported by GEPA especially to help them roll onto globally recognised platforms.”

Ms. Dzikunu further encouraged SMEs in the country to take advantage of other training programmes to improve their business growth and get the needed exposure.

Another participant, John Jaoudeh on his part emphasised the importance of access to open markets towards improving Ghana’s export efforts.

“Although this initiative is laudable, the other challenge is the cost involved in allowing SMEs to be present on the e-commerce platform and I think a consideration must be made in trying to come up with a convenient package to allow SMEs to benefit from such a platform,” Jaoudeh noted.

Ebenezer Anderson who also took part in the training called on banks in the country to provide incentives to help SMEs mitigate the current economic challenges.

He also advocated for a reduction in the cost of joining e-commerce platforms which enable SMEs to showcase their products to wider and open markets across the world.

Head of Retail Banking at Zenith Bank, Gloria Cabutey-Adodoadji said the rationale behind the training was based on a survey which found that although majority of SMEs in the country were doing well, access to export markets remained a challenge.

“We [Zenith] want to be part of the success of Ghanaian SMEs and we have been able to win new customers into our books and also encouraged old customers to return. Our goal is to support SMEs to know what it takes to gain access to funding by way of training and advisory support,” Gloria Cabutey-Adodoadji pointed out.

Meanwhile, experts from Zenith Bank Ghana, Alibaba.com and Ghana Export Promotion Authority took participants through practical training in proper bookkeeping and financial management, search engine optimisation and marketing as well as export requirement processes.