Young entrepreneurs grateful for YES initiative

Young entrepreneurs in the Koforidua Municipality have expressed hope in the Youth Enterprise Support (YES) initiative launched by President John Dramani Mahama to support businesses of young people.

They said the initiative had come at a time when young people in business were faced with challenges and expressed the hope that it would help them to revive their businesses and to bring the best skills and ideas into play.

Speaking to some young entrepreneurs, in an opinion poll conducted by the Ghana News Agency (GNA) in Koforidua, Mr. Addo Kwame, the Manager of Ultimatesag Majesty Works, said the initiative was significant because new businesses now faced financial constraints as suppliers demanded instant cash, which was hard to come by.

He expressed the view that, the initiative would help reduce the unemployment situation and appealed to the YES Secretariat to make sure that only the youth who owned registered businesses benefitted from it.

He asked the Secretariat to consistently monitor the beneficiaries to ensure that the funds were used for the purposes for which they were provided.

Mr. Emmanuel Bempong, the Chief Executive Officer (CEO) of CB TEK Ventures, said future prospects of businesses who would apply for the fund should be taken into consideration.

Mr. Micha Clement, the Director of Jah Bless Computer Services, on his part, cautioned the YES Secretariat against people who would pose as agents and liaise between the secretariat and the youth who would like to access the funds.

Other young entrepreneurs who spoke to the GNA expressed similar opinions and emphasised that the funds must be disbursed to the benefit of all.

President John Mahama, launched the YES Initiative of on August 12, with a seed capital of GH¢10 million, to help Ghana's young and innovative population turn great ideas into thriving business enterprises.

Meanwhile, the YES Secretariat has said interested persons who meet the eligibility criteria have between September 01, and October 10, to submit their business plans, or ideas for consideration.

Eligible applicants must be Ghanaian citizens below 35 years. They must have completed at least Junior High School.

It says a business plan must show the ability to create a minimum of five job opportunities within a specific time frame.

However, businesses in gambling, alcohol production or distribution, tobacco, narcotics or weapon distribution or production are exempted.