Prime News Ghana

SMEs need efficiency and low cost of doing business to grow - PEF

By Justice Kofi Bimpeh
Chief Executive Officer of the Private Enterprise Federation, Nana Osei Bonsu
Chief Executive Officer of the Private Enterprise Federation, Nana Osei Bonsu

The Private Enterprise Federation, PEF, says the government must focus on creating the enabling environment for the Small and Medium-sized Enterprises, SMEs in the country.

The Federation said the SMEs are the bread and butter of the economy and the need for government to ensure low cost of doing business for them to be able to serve the needs of the country.

The Federation noted that the local companies still lack the needed support to expand their operations.

Reacting to a report by the Institute of Statistical, Social and Economic Research which revealed that SMEs in Ghana have not been able to expand their production due to the high cost of duty on imported machines in an interview with Citi FM, Chief Executive Officer of the Private Enterprise Federation, Nana Osei Bonsu said government should not focus on creating conglomerates but rather build a favourable economy for the SMEs to thrive.

"We know that the export does not only bring value but they also allow to create the capacity in the skill set development in the building of the localities and the......of not exploiting companies within the community are also beneficial to us, and SMEs, Ghana should place emphasis on these businesses that are the bread and butter of our economy, but I think sometimes we overdo ourselves by thinking that we have to get conglomerates we can have efficient businesses, efficiency is key, the efficiency and low cost of doing business will be much more, the fact that we have an infrastructure that allows SMEs to do business.."

READ ALSO : 

For more News in Ghana visit primenewsghana.com