The Ghana National Chamber of Commerce and Industry (GNCCI) Sekondi-Takoradi branch has ended the second edition of its 10-day Bazaar in Takoradi.
Dubbed ‘Chamber Bazaar’, it was on the theme ‘Creating and promoting unlimited opportunities for goods and services through effective market linkages’.
The Chamber Bazaar served as a platform for exhibiting locally manufactured products and promoting local businesses.
It provided networking for building natural, mutually beneficial business relationships between local entrepreneurs and other business owners.
“GNCCI is dedicated to promoting local businesses and entrepreneurs in the country. We recognise the importance of supporting our local business in driving economic growth, job creation and building a stronger private sector,” said GNCCI president, Clement Osei-Amoako.
“This is one of our initiatives to support the private sector, and our goal is to provide a platform for entrepreneurs in every region and across the country to showcase their products and services, and network with other businesses as well as find opportunity for growth,” he added.
He advised business owners to adopt strategies that meet the changing needs of consumers: “Innovation is key to staying ahead of the competition; keep customers engaged as well as remember that you are not alone – you are part of a vibrant and supportive community of individuals who are all striving for success”.
Mr. Osei-Amoako expressed concern about the negative impact of newly introduced taxes by government.
He said GNCCI believes that the Excise Duty, Growth and Sustainability Levy and the Income Tax Amendment bill will have devastating effects on the private sector, leading to the collapse of businesses.
“The truth is we cannot ignore the reality that these new taxes are counter-productive, obnoxious and harmful to development of the private sector,” he lamented.
He noted that businesses in Ghana are already struggling under a heavy burden of taxes, and the introduction of these new taxes will only exacerbate their plight.
Also, Mr. Osei-Amoako noted that these taxes will make businesses in the country less competitive compared to other countries with lower taxes.
Again, he said, this will discourage foreign investment and make it difficult for local businesses to compete with their foreign counterparts.
“Given the harsh business environment in the country, most businesses have no choice other than to shut down, relocate to other countries or pass on the cost to consumers,” he said.
He therefore urged government to focus on tax efficiency and compliance to increase revenue, rather than introducing new taxes that will only harm the private sector…which is the engine of growth.
“Let us work together to create a conducive environment for our businesses to thrive and contribute to the growth and development of our beloved country,” he said.
Kwabena Okyere Darko-Mensah, Western Regional Minister, mentioned that the region is the best place to do business in Ghana. “This is where we have the majority of Ghana’s raw material. It is for this reason that I also support your position that comparative advantage is key. Let’s look at areas where we are sufficiently well-organised, then process and make sure that you can bring to the market things which are affordable for people,” he said.
He said the Western Regional Coordinating Council is ever ready to support the growth of businesses in the region.
