Put premium on branding to grow businesses

The Chief Executive Officer of the African Network of Entrepreneurs (TANOE), Mr. Ekow Mensah, has called for small and medium enterprises to put premium on branding.

He said that was vital to establish significant presence in the market to attract and retain customers.

He added that it was the way to go to grow and expand their businesses.

Mr. Mensah was speaking at a day’s seminar jointly organized by the Vocational Training for Females (VTF) and the Network of Women Entrepreneurs (NETWET) in Accra.

It was held under the theme “Branding – key to business growth” and brought together woodworkers, tailors and dressmakers, photographers, hairdressers and beauticians.

The goal was to provide a network support system for young women, who had benefitted from the VTF programme and to encourage them to adopt best business practices.

Mr. Mensah said he found it deeply worrying that many in the informal sector had not been paying serious attention because they considered that to be expensive.

He said that needed to radically change to enable them to cut a fair slice of the market share.

Ms. Linda Agyei, the Director, VTF Programme, pledged to give strong support to the beneficiaries to efficiently operate their businesses.

Research, she said, had shown that the informal economy in sub-Saharan Africa had been contributing 72 percent of all employment and about 41 per cent of Gross Domestic Product.

Mrs. Beatrice Archer, the Chief Executive Officer of Hospitality Solutions, reminded them to be honest in their dealings with customers.