SMEs, key to Ghana's economic development - Dean of KNUST

Kumasi, Aug 1, GNA - Mr Joseph M. Frimpong, Dean of the Kwame Nkrumah University of Science and Technology (KNUST) School of Business, has decried the minimal support given to the Small and Medium enterprises (SMEs) in the country.

He said the inability of policy-makers to resource SMEs with the necessary capital and technical support had militated against their effective contributions to the country's socio-economic development. Mr Frimpong was speaking to the Ghana News Agency in an interview in Kumasi on Friday.

The Dean said Suame Magazine for instance employs about 20,000 artisans and that similar cluster of business ventures could employ many more to reduce the high rate of unemployment if they were adequately resourced to train more people to acquire employable skills. Mr Frimpong said an enhanced entrepreneurship policy could help Ghana reduce poverty, unemployment and hunger and therefore advocated the institution of a National Entrepreneur Policy. This, he said, could help the youth especially polytechnic and university graduates to strive and establish their own businesses after their courses.

He urged SME's to shun the old way of doing things and be prepared to be creative and innovative and also acquire modern technical skills to improve their work. 1 Aug 09