SMEs demand broader consultations on law review

Operators of small and medium enterprises (SMEs) have demanded broader consultations with the private sector to fine tune the draft companies’ bill.

The views and concerns of industry players must not only be sought but factored into the new law to create the right conditions and regulatory framework for businesses to flourish, they said.

They expressed the position at a day’s workshop on the draft bill held in Kumasi by the Private Enterprise Federation (PEF).

People who contributed to the discussions at the forum were unanimous that nobody could pretend to know the challenges facing the sector better than the business operators and that is why they need to be actively engaged.

This was the way to remove bottlenecks and enable businesses to operate more efficiently, to create jobs and wealth for the people.

They welcomed the step taken by the PEF to keep the SMEs adequately informed on the draft bill and to collate their views.

Alhaji Issah Buckman, Ashanti Regional Chairman of Poultry Farmers Association, asked the various business associations to ensure a united front to tackle problems affecting the growth of the private sector.

He said members should accept to work together to influence change and make the sector a strong pillar supporting the nation’s economy.

Nana Osei Bonsu, Chief Executive Officer of PEF, said the review of the companies’ code, required active involvement of all stakeholders to make it stand the test of modern business operation in the country.

He said it is important that contributions of everybody are brought on board to help reshape the bill to reflect the interest of business operators.