Government begins disbursing funds to NEIP beneficiaries

The government under the National Entrepreneurship and Innovation Programme (NEIP) Presidential Business Support Programme Window two has begun disbursing funds to 3,000 small businesses and start-ups to help expand their operations.

The selected 3,000 small businesses and start-ups will receive between GHc10,000.00 to GHc100,000.00 from now until December to boost their operations to amongst other things create more jobs to help reduce unemployment in the country.

This formed part of the NEIP Presidential Business Support Programme being spearheaded by the Ministry of Business Development.

Dr Ibrahim Mohammed Awal, Minister for Business Development presented a dummy cheque for various amounts ranging from GHc10,000.00 to GHc100,000.00 to 30 small businesses and start-ups drawn from the five regions in the north in Tamale to signify the kick-start of disbursement of funds.

The beneficiary businesses cut across areas of agribusiness, fashion and design, and catering amongst others

Dr Mohammed Awal said the number of small businesses and start-ups benefiting from the Window two of NEIP from the five regions in the north were increased because of the high level of recovery from the beneficiaries from the first window from the area.

He gave assurance of government's continued support to businesses in the country to thrive, saying GHC 10 million was earmarked to support small businesses and start-ups in the north during the 2020 financial year.

He advised the recipients to choose the path of development and shun violence and reject politicians, who only preached violence.

Mr John Kumah, Chief Executive Officer of NEIP, reminded the beneficiaries that the funds were not free money, advising them to work hard to pay back to sustain the programme.

During the NEIP Presidential Business Support Programme Window two, 12,000 small businesses and start-ups were trained out of which 3,000 were selected for funding.

During the Window one, 7,000 small businesses and start-ups were trained out of which 1,350 received funds to boost their operations.

Mr Kumah emphasised that the government's objective under the NEIP was to create jobs encouraging the beneficiaries to do more to engage more people to ensure the success of the programme.

Mr Salifu Saeed, Northern Regional Minister, said the support offered small businesses and start-ups under NEIP and helped them to put their ideas into practice.

Mr Saeed advised the beneficiaries to invest the funds appropriately to help expand their operations for the benefit of other applicants.

Ms Tipaya Patience Chukwu, Managing Director of Serene Royal Enterprise, producers of soya milk at Nyankpala, who received Ghc20,000.00, thanked the government for the support.

She was optimistic that it would help to expand her business and employ more hands to help reduce unemployment in the country.