Govt urged to create better conditions for entrepreneurs
The Chief Executive Officer (CEO) of Boomers International Limited, Mr Kwabena Danso, has called on the government to create conducive business environment in order to help entrepreneurs to excel in their fields of endeavour in the interest of the socio-economic growth of the country.
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This, he said, was necessary because entrepreneurs in the country needed to operate in a free environment in order to develop and support the country’s economy.
Mr Danso, who spoke to the Graphic Business on the sidelines of an investor and financial dialogue organised by TechnoServe in Accra, said manufacturing in the country was declining because entrepreneurs did not have favourable playing field as their counterparts in the developed countries.
Economic indicators
“Start-up companies will be able to grow and support the country’s economy only when the government provides tax exemptions to aid them save their business,” he said.
“The vast majority of jobs in developing economies are provided by Micro and Small Enterprises (MSEs) and there is good evidence that the growth of young small firms is a driver of the economic growth,” he added.
According to him, government investing directly in MSEs would not be the solution to end the woes of the sector but rather providing the enabling environment for the companies to grow.
“There is the need to strengthen the critical areas of the economy to trigger socio-economic growth and that is why government needs to empower entrepreneurs to become more innovative to attract their own investment,” he said.
Bicycle production
Mr Danso, whose outfit manufactures bamboo products, said the company would start a mass production of its bamboo bicycles in the country in September this year.
“Even though the company is yet to launch the bamboo bicycle in Ghana, we presently export about 500 bicycles per year to Germany, the Netherlands, Australia, Taiwan and United Kingdom,” he said.
“It is difficult selling in the local market due to pricing issues which arise as a result of the cost of production,” he added.
Mr Danso was of the view that the company he nurtured from the scratch would be able to export about 15,000 bicycles per year in the next five years.