SMEs need support to attract funding

The Project Manager of Mobile Business Clinic (MBC), an institution committed to the development of agro-business in the country, Mr Marindame Kombate, has called for support for Small and Medium Scale Enterprises (SMEs) to overcome challenges that make them unattractive for funding by financial institutions .

He said the problem was not the non-availability of funding but the ability of the SMEs to provide documentation and institutional structure that could convince fund managers the safety of their funds.

Mr Kombate was speaking at the opening of a three-week workshop for 16 SMEs in agro-business within the agricultural value chain at Koforidua.

The workshop is to help the agro-businesses to structure their enterprises in a form that would allow them to grow and create employment.

It also aimed at drawing the agro-businesses closer to investors and professionals who can help them with the requisite skills, knowledge and resources to help promote their growth.

The Koforidua workshop is the fifth to be organized by the MBC following earlier ones in Accra, Tema, Tamale and Kumasi.

The MBC is a joint partnership by Engineers Without Boarders of Canada, Lundin Foundation of Canada and the Canadian government and aimed at supporting SMEs in the agricultural sector to grow.

Mr Kombate called for support for SMEs to improve their documentation and management skills to be able to attract more funding from the financial institutions and development partners.