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Top 5 national institutions that can help support and grow your business

February 25, 2021

In Ghana, several institutions exist to help entrepreneurs, small and medium scale enterprises and large-scale firms thrive and succeed in an ever-changing world.

These institutions offer technical, advisory, and capital support to businesses of all sizes. It is however important to determine the right fit for your business as these institutions have varying mandate.

Below are the top 5 national institutions that can support your business growth in Ghana

#1 NEIP
The National Entrepreneurship and Innovation Plan (NEIP) is an initiative by the Government of Ghana with the sole objective “to provide an integrated national support for start-ups and small businesses.” NEIP directs its focus to startup incubators and the provision of funds to young businesses for their growth and success.

NEIP, under its Presidential Business Support programme within the past few years, “has conducted two successful windows of business support with training opportunities for 19,000 businesses or entrepreneurs in Ghana and total of 4,350 funding beneficiaries.”
To enable NEIP achieve its objective, it runs on four implementation modules which are:

Module #1: NEIP INCUBATION PROGRAMME
Under this module startups are aggressively trained in skill development for the success of their business.

Module #2: NEIP INDUSTRIALIZATION PLAN
Under this module, focus is directed towards Greenhouse projects and 10 Sub-contracting industries. The target is to setup 1000 Green House Domes (100 per region) and create 10 sub-contracting industries nationwide

Module #3: NATIONAL ENTREPRENEURSHIP AND INNOVATIONS FUND (NIEF)
The fund is dedicated to the youth in entrepreneurship, who otherwise cannot not access funding from banks and other financial institutions. The module targets financial support for 200 scalable businesses per annum.

Module #4: BUSINESS ADVISORY AND COMPETITIONS
Under this module, startup hunting and competitions are the basis for selection of funding and incubator hubs. It is directed towards the following sectors:

• Agri- Business and Agro- Processing
• Information Communication Technology
• Sports, Tourism and Recreation
• Sanitation, Waste management, Green and Ecological Businesses
• Health, Food and Beverages
• Fashion (Clothing & accessories) and Beauty
• Media, Marketing and Communication
• Manufacturing and Industrial Processing
• Real Estate and Construction
• Transport, Logistics, Business and Professional Services

#2 NBSSI
The National Board for Small Scale Industries (NBSSI) operational in 1985 is a government agency under the Ministry of Trade, Industry and Presidential Special Initiatives. The agency is mandated to promote the growth and development of Micro, Small and Medium Enterprises (MSME).

During this pandemic, NBSSI has been particularly helpful to MSE’s by providing low-cost funding. By the end of October last year, through the Coronavirus alleviation Programme (CAP) Business Support Scheme, a total of 237,518 businesses had benefited from the Government of Ghana stimulus package. 185,000 of them were in the microeconomic sector.
Becoming a member offers you tremendous benefits such as easy access to technical and capital resources.

#3 AGI
The Association of Ghana Industries (AGI) prides itself as the leading voice of manufacturing industries in the country. The association is “a voluntary business association of over 1200 members, made up of small, medium and large-scale manufacturing and services industries in agro-processing (food and beverages), agri-business, pharmaceuticals, electronics and electrical, telecommunications, information technology, utilities, service industries, transport, construction, textiles, garments and leather, banking and advertising.”
AGI is aimed at
• “Strengthening national industry associations through the sharing of knowledge, experience and critical information;
• Providing members with a vast network of contacts, especially in the West African sub-region;
• Facilitating international trade through exhibition of member products in countries across the sub-region;
• Advocating policies that advance the growth and development of industries;
• Hosting the industry and technology exhibition to promote members’ goods.”

Becoming a member of AGI can thus advance your business initiative. To join, visit https://www.agighana.org/member/join.php

#4 GNCCI
The Ghana National Chamber of Commerce is & Industry (GNCCI) is an association of business operators, firms, and industries across all sectors of private enterprises in the country. GNCCI was established with the sole objective of promoting and protecting commercial and industrial interests in Ghana.
GNCCI runs with the vision to provide leadership for the growth and prosperity of businesses in Ghana. Its motto is “Your business links, our business.”
Since your business links is their business, becoming a member of AGI will ensure you have all the necessary resources to succeed in your business endeavor. It is important to note that, AGI is not directed towards startups, but at well established industries and business firms.
Becoming a member offers the following benefits,
• Platform to networking amongst members locally and internationally for business growth
• Business seminars
• Cost efficient memberships training programmes
• Provides platforms to interact with government and its agencies

#5 GIPC
Under the Ghana Investment Promotion Centre (GIPC) Act 2013 (Act 865), GIPC is a government agency setup with the mandate to support and promote investment in Ghana, and provide incentive frameworks for businesses. Five functions of the center include:
(a) formulate investment promotion policies and plans, promotional incentives and marketing strategies to attract foreign and local investments in advanced technology industries and skill-intensive services which enjoy good export market prospects;
(b) initiate and support measures that will enhance the investment climate in Ghana for both Ghanaian and non-Ghanaian enterprises;
(c) initiate, organize and participate in promotional activities such as exhibitions, conferences and seminars for the stimulation of investments, to present Ghana as an ideal investment destination;
identify specific projects and prepare project profiles on investments and joint venture opportunities in Ghana and attract interested investors for participation in those projects;
(d) bring about harmonization in investment policy formulation through coordination of the activities of all other institutions and agencies.

The post Top 5 national institutions that can help support and grow your business appeared first on Ghana Talks Business.

Ghana Talks Business

Source : African Media Agency (AMA)

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