The Chief Executive Officer of Innohub Limited, Nelson Madiba Amo, has called for the establishing of more business parks to foster entrepreneurship and address the infrastructure deficit.
According to him, addressing the infrastructure deficit is crucial as it remains a significant barrier for many start-ups and small businesses. He said high rental costs and limited availability of suitable office space continue to hinder the growth potential of many businesses.
By repurposing existing spaces into co-working facilities, he noted, entrepreneurs will gain access to affordable and flexible workspaces; enabling them to focus on developing their businesses. He believes
Citing examples from developed economies, he said: “I believe that as a nation this is the direction we should take. In more developed economies, there is a significant presence of co-working facilities. For example, if you walk around London, you will find numerous co-working spaces. The same can be seen in Israel and other countries that prioritise entrepreneurship.
“Therefore, any country that is serious about fostering entrepreneurship should consider addressing the real-estate issue by converting existing spaces into co-working facilities. This initiative can be led by the private sector, with support from a clear government policy. Government policy could even include tax waivers for companies involved in this endeavour.”
He made these comments during the launch of Osei Business Park in Tema. Mr. Amo highlighted that business parks with co-working facilities offer numerous benefits. They provide a collaborative environment where entrepreneurs can network, exchange ideas and potentially collaborate on projects.
Additionally, these spaces often come with shared amenities and services such as high-speed Internet, conference rooms and administrative support, which are typically costly for individual start-ups to afford.
Furthermore, he noted that business parks can act as innovation hubs, attracting talent and investment to a specific region. By clustering start-ups and small businesses together, they create a vibrant ecosystem that encourages knowledge-sharing, collaboration and economic growth. This in turn can lead to job creation and overall economic development.
The Launch
The vision behind the business park is to address challenges faced by small businesses, particularly in the area of infrastructure – as many early-stage businesses in the country struggle to find affordable office spaces which offer flexible lease terms.
The Osei Business Park aims to provide a one-stop facility that not only offers office space but also provides a range of support systems; including coaching, mentoring, access to networks, partnerships and finance. The initiative is a collaboration between three core partners – Osei Academy, a leading enterprise support organisation; Prime Advocates, a prominent UK-based law firm; and Innohub Limited.
One of the park’s key components is its Fashion Ventures Accelerator, which focuses on supporting fashion start-ups. The accelerator offers tailored support and access to international scaling opportunities, filling a gap in the market for fashion entrepreneurs who often lack access to such resources.
Founder of Osei Business Park and Osei Academy Foundation, Gladys Murphy, sharing her ideas behind setting up the park said: “I want to train a large number of people so that we can meet the demand of customers outside Ghana. If we don’t meet their expectations, they won’t accept our products. I have been working in the dressmaking industry in England for many years, and I know that even a small mistake can lead to rejection. So, we must avoid making any mistakes. I am determined to share my knowledge and experience with as many people as possible, using the expertise I gained in England”.
On his part, President-Association of Ghana Start-ups, Solomon Adjei said: “There is a significant disparity in the availability of suitable workspaces for people. Young individuals often struggle with renting offices for extended periods, facing the challenge of high rent prices. This gap exists, and we are pleased that initiatives like this one have been introduced today to bridge the infrastructure divide”.
