NBBSI ups effort to grow small businesses

The National Board for Small Scale Industries (NBSSI) has scaled up its effort at assisting small and medium enterprises to efficiently operate with the launch of the phase two of the Ghana Institution Support Programme (GISP).

A total of 3,890 enterprises across the nation would benefit from the African Development Bank (AfDB)-funded programme.

They would be supported to list on the Ghana Stock Exchange and to access long term capital to expand their operations.

Ms. Kosi Yankey, the acting Executive Director of the Board, said this would be done through the adoption of efficient financial management practices and capacity-building to enhance their competitiveness.

She said the goal was to accelerate economic growth, create jobs and fight poverty.

The expectation was that the beneficiary enterprises would play vital role in the government’s planting for food and jobs and one district, one factory flagship projects.

Ms. Yankey spoke of the restructuring of the Business Advisory Centres (BACs) of the NBSSI to give strong technical support and create the right environment for businesses to thrive.

She added that under the phase two of the GISP, 140 officers of Board would also receive capacity-building training.

She announced that in excess of 900 enterprises benefited from the phase one of the programme, which ended in last June, and said their operations had seen significant improvement.

Mr. Bashir Manu, Ashanti Regional Manager of NBSSI, underlined the need to uphold best business management practices for increased productivity and profitability.

He said it was important for business owners to be abreast of changing trends and technology to stay competitive and expand.