Start-up businesses urged to form networks for research to advance policy decision

Professor Kwaku Atuahene-Gima, President of the Nobel International Business School (NiBS) has called on start-up businesses to form networks to conduct research that would inform Government’s policy direction for Small and Medium-term Enterprises (SMEs).

He said the business-oriented research would inform policymakers on what provisions and interventions start-ups needed in their business operations to grow and expand.

Prof. Atuhene-Gima was speaking at the third virtual edition of the Ghana Business Summit and exhibition in Accra.

The Summit was on the theme: “Impact of Covid-19 on Business Sustainability: A Review Big Businesses, SMEs and Start-Ups.”

The Ghana Business Summit, which aims at promoting open dialogue between relevant stakeholders in the public and private sectors will focus on adopting the right strategies to stimulate post-Covid-19 economic recovery in Ghana to ensure a future of hope and shared prosperity for all Ghanaians.

It will also provide the needed platforms for enterprise business solutions, mentorship, and market access to Startups/SMEs.

He said Government in most developed countries fund research institutions to come out with studies that could be used to formulate policies for the business environment.

Prof. Atuhene-Gima said businesses should develop the culture of perpetual crisis management strategies and move away from the perception or mindset of solving crises just once.

“Businesses should have a mindset of exploring new capabilities for solving long term crisis,” he added.

Mr Bright Simons, Founder, and President of mPedigree said interactions from the summit had indicated that there were a lot of innovations ongoing in the country and much of that was prompted by the COVID-19.

He said leveraging on core competencies to scale-up innovation would position businesses to hold grounds against emerging crisis.

Mr Simons said the pandemic had revealed many situations and within those situations, there were opportunities to do long-term innovative thinking in all situations at the level of government, big businesses, and start-ups.

Mr Latif Abubakar, the Chief Executive Officer of Globe Productions, organisers of the Summit said “It is time to share rich experiences and share practical business solutions,” to prepare for the post-COVID-19 era.