The Ashanti Regional version of the National Business Plan competition, which forms part of the National Entrepreneurship and Innovation Plan (NEIP) Business Support program, has taken place at Kumasi.


The nationwide programme is being organized under the auspices of the Ministry of Business Development to train a number of Small and Medium Enterprise owners who have applied for business start-up capital from NEIP’s outfit and other participants on how to write/prepare fundable business plans. 


Under the programme, all applicants who have applied for support from NEIP are expected to undergo a comprehensive competitive Business Plan development under various stages for scrutiny before a final selection is made for consideration for a support package to be given from NEIP.  


Participants were taken through topics such as Business Plan development and Financial Plan preparation for SMEs.


In an address, Mr Kofi Twum Boafo, Communication Specialist, Ministry of Business Development, explained that the main purpose of the NEIP initiative was to help reduce the unemployment rate, especially among graduates across the country, by ensuring that there was the needed financial support package for the development of SMEs in Ghana.


Mr Boafo reiterated the vision of the President Nana Addo Dankwa Akufo-Addo towards the transformation of the country through business development and the reduction in the unemployment rate in Ghana by creating more jobs in the private sector for the youth.


He identified agribusiness as one of the major areas that the NEIP initiative sought to focus its attention for the improvement of the agricultural sector in Ghana in order to help eliminate rural poverty and create wealth for the citizenry.


He disclosed that about seven thousand (7,000) SME applicants had applied under the NEIP Business Support Program across the entire country out of which five hundred (500) applicants were expected to be selected for support at the end of the National Business Plan Competition which had been rolled out in all the ten (10) regions of Ghana.


Mr Boafo, therefore, urged applicants to take the training seriously as it would go a long way to benefit every single applicant in one way or the other through a number of options available under the NEIP module.


Source: ISD (Justice Achaah Adoah)