Support SME's to alleviate poverty – KsTU to government

The Dean of Graduate Studies at the Kumasi Technical University (KsTU), Prof Gabriel Dwomor, has called for a stronger partnership between government, larger corporations as well as Small and Medium Enterprises (SME's) to solve the cycle of poverty in the country.

According to him, Government can alleviate poverty by focusing on SME's while larger corporations can help themselves by including SMEs in their value chain.

He said well-managed and healthy SMEs can provide employment for the skilled and unskilled populace and young people who are always at the core of the unemployed category.

He, therefore, urged government to create a friendlier regulatory environment for SMEs through capacity building and provision of tax incentives.

He also wants government to implement inclusive and favourable reforms, including procurement of more goods and services for the public through SMEs.

Prof Dwomor, who believes that SMEs provide goods and services tailored to local needs at affordable cost implored government to involve SMEs in identifying the necessary reforms.

Delivering a keynote address on behalf of acting Vice-Chancellor of KsTU, Prof Mike A. Acheampong, at a seminar on entrepreneurship held in Kumasi on Friday, 12 October 2018, Prof Dwomor, argued that for SMEs to be sustainable and deliver the expected outcome, larger corporations should be oriented to build supply chain capacities for SMEs as well as rationalise procurement procedures aimed at strengthening local distribution networks.

He said SMEs can assume their rightful place as the pivot for growth and expansion of the economy if government and larger corporations continue to provide them with financial services.

The event brought together students, entrepreneurs, and other business leaders to share ideas on how to increase productivity and sustain profitable ventures.

It also served as a platform for networking and dissemination of business development strategies and programmes.