Some of the participants at the training
ICODE Ghana, an innovation hub focused on technology and business incubation and training based in Takoradi in the Western Region has trained over One Hundred Micro Businesses to enhance and improve their operations and increase profits.
The training dubbed “Micro Business Games” is ongoing with support from GIZ, an agency of the German foreign ministry and the Savings Bank Foundation from Germany, is expected to benefit 500 businesses in the Western Region.
The training is categorized in four phases. Participants are divided into four groups with each group assuming leadership of a business simulation process takes business decisions and gains insight into the internal and external factors that influence the performance of their businesses.
They receive feedback and reflect on their progress within the simulation. This newly acquired knowledge is to help them build their own businesses.
Speaking to Prince Bonney, founder and CEO of ICODE, he said they train businesses in Fashion, Agric, Ecommerce and general B-to-B operations in addition to a host of other IT training but they specialize in training businesses that use IT as a tool to power their businesses.
He said from September 2018 to April 2019, 250 of such businesses have benefitted from such training. Starting from the month of May to June and July, about 150 Startups and Businesses will undergo another training.
He said GIZ and the Savings Bank Foundation have immensely supported them in this endeavor.
He said many businesses do their business without record keeping and this makes it difficult for them to receive funding from financial institutions to expand when the need arises. Some struggle with their income statements and financial accounting which banks rely on to provide support.
The training will help them be able to balance their books, do forecasting and even manage their supplies.
Mr. Bonney says every batch of trainees goes through a week of training after which they are mentored by other businesses for a period to help them get hands on practical to help them survive in the real business world.
On the main goal of the training, he said, “One of the main goals of the training program is actually to empower the private business person to create jobs for the community. Therefore, if the single entrepreneur or private entrepreneur is making more money there is a guarantee that he or she might employ someone else to expand the business. We want to encourage young entrepreneurs in creating to create more businesses in Takoradi”.
He is of the view that Takoradi can also experience the module we see in Accra and Kumasi where those places has become the center of attraction and business support. He said the support is for both the people who have started their own businesses and those planning to start theirs from scratch.
Mr. Bonney has promised that ICODE will be offering this free training support all young entrepreneurs and other organizations operating in Takoradi and other parts of the western region.
