DFID provides business network platforms for entrepreneurs

The Department for International Development (DFID) through the Enhancing Growth in New Enterprises (ENGINE) is providing platforms for businesses in the Northern, Upper East, Upper West and parts of Brong Ahafo regions to share knowledge and ideas to improve their businesses.

Mr Francis Opoku-Mensah, Enterprise Finance Manager for ENGINE Investors and Financing Dialogue, addressing the third edition of the Investor and Network Dialogue Session in Tamale on Wednesday said, the platform was to create opportunities for investors, entrepreneurs and financiers to support small scale enterprises.

He said the fair was to give opportunities to the entrepreneurs to learn financial literacy processes required in obtaining agribusiness facilities, loans and private equities.

Mr. Opoku-Mensah said ENGINE has since 2014 provided support to 176 small scale enterprises in various forms and would soon award grants and technical support to 100 businesses by the end of this year.

He indicated that GH?3.1 million has been committed to 176 businesses, stressing that, an alumnae association has been formed by the beneficiaries with the aim at networking and promoting their businesses and gaining access to the market.

Mr Joe Gyapong, Business Manager of ENGINE expressed worry that many new businesses do not have good start-up capital, noting that, many of them too lacked book keeping skills and urged them to develop good financial literacy skills to enhance their businesses.

He urged financial institutions to extend credits and other financial assistance to entrepreneurs in the agric-business sector, noting that, such a sector was very a specialized one, which needed much capital investment.

Mr Melvin Akansale, Chief Executive Officer of Zoe Laundry Services said he started his business with a grant of 7,500 pounds from the ENGINE programme and has expanded his business that has also created a new bakery business for him.

He expressed appreciation for the support extended to him and promised to improve investing to support other less privilege persons in society.

Madam Gladys N. Afeg-Ra, Managing Director, indicated that, she used to conduct her accounting processes haphazardly until ENGINE educated her about the need to do book keeping and linked her businesses to various buyers, thus enhancing her profits and earnings.