The National Board for Small Scale Industries (NBSSI), under the second phase of the Ghana Institutional Support Programme (GISP), has organised a ten-day workshop on business planning for new product development for micro, small and medium enterprises (MSMEs) in Koforidua.
This is in line with the current government’s industrial transformation strategy and private sector focus to enhance opportunities for rapid growth in the MSME sector and create jobs to reduce poverty in the country.
The GISP, which supports institutions including NBSSI and PEF, is funded by the African Development Bank (AFDB) to support and strengthen government institutions to deliver on their mandates.
The current support to NBSSI extends to MSMEs as well, and since 2017 over 3,500 MSMES have benefitted from the intervention.
The workshop sought to equip participants with the needed skill of writing a business plan to serve as a guide for their daily business operations and a means to secure funding from financial institutions. Thirty (30) participants benefitted from the training workshop.
To strengthen the training programme, a pitching session was held after the programme wherein participants had an opportunity to present their business plans.
The Area Manager of GCB Bank, Mr. Andoh Bissiw, took participants and NBSSI staff through the criteria for SME business plan appraisals by banks.
Participants were given opportunity to present their prepared business plans for further interrogation and possible access to financial support. The businesses selected were beads producers, sachet water producers, fashion designers, a restaurateur and a ‘Prekese’ processor.
The Acting Regional Manager, Mr. Isaac Nimako, expressed gratitude to the Mr. Bissiw and his team for supporting the programme.
Project Officer Mr. Adnaan Abubakar was tasked to create a social media platform for the participants, and also a collect data from participants to enable NBSSI track trainees’ activities after the programme.