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Business News Sat, 4 Nov 2017

NEIP invites business owners to apply for funding

The National Entrepreneurship and Innovation Plan(NEIP) has started recruiting businesses to benefit from a 10 million dollars seed fund set up by the government to help create jobs.

The move is aimed at creating about a million jobs in the short term as the project seeks to generate 100 million dollars in the near future.

Speaking to Citi Business News after the launch of National Entrepreneurship and Innovation week celebration, the CEO of the project, John Kumah stated that there are strict mechanisms to recover the funds through prudent measures.

“The NEIP was premised on the government’s conviction that the way out of the unemployment situation was entrepreneurship, saying that: The NEIP has, therefore, come as a solution to this national youth unemployment challenge.”

“President Akufo-Addo, launched the NEIP in July this year with a $10 million seed fund, and the private sector partner is required to leverage the fund to raise additional $100 million funding for the project which is expected to deliver about one million jobs.

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The NEIP, which is under the auspices of the Ministry of Business Development, is one of the flagship initiatives of President Akufo-Addo’s government which is aimed at supporting young entrepreneurs to grow their businesses.

The NEIP has the objective of providing an integrated national support for startups and small businesses focusing on the provision of business development services, business incubators and funding.

Mr. Kumah stated that one of the reasons for selecting the private sector implementers of the programme was to build strong support for the entrepreneurship ecosystem in Ghana.

Pointing out some beneficiaries, he stated that it will include producers, marketers, buyers and other actors within the business value chain.

Source: citibusinessnews.com
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