Help Small Businesses Access finance-LPG to Gov’t

The Liberal Party of Ghana (LPG) has admonished the government to help small businesses access finance in the country.

The party in a statement noted that the government should enable entrepreneurs to access the capital they need to start and grow their enterprises.

The party believes this should be done without them [businesses] having to take risks in the family home.

The statement issued by the Communications Directorate said: ”Government should work with the banks and finance industry to develop StartUp Finance, a partial guarantee scheme which will improve access to finance for Ghanaian micro-businesses.

Under StartUp Finance, government will examine partially guaranteeing small loans from banks and finance institutions to give start-ups the affordable capital they need to get going with their business.

LPG want government to establish this scheme to back in the creativity and ingenuity of Ghanaians and grow more good local jobs.”

Read the full statement below

Ghana has an unprecedented opportunity to transition from an economy based on resources, primary industries and domestically focused businesses to one based on high growth, knowledge-intensive businesses that can compete globally.

Currently, Ghanaian micro-businesses either struggle to get a loan or may borrow via other means, such as residential mortgages, in the absence of cheaper, more appropriate financing alternatives.
LPG want government to help more Ghanaians convert their great ideas into good businesses.

Government should enable entrepreneurs to access the capital they need to start and grow their enterprises without them having to take risks on the family home.

Government should work with the banks and finance industry to develop StartUp Finance, a partial guarantee scheme which will improve access to finance for Ghanaian micro-businesses.

Under StartUp Finance, government will examine partially guaranteeing small loans from banks and finance institutions to give start-ups the affordable capital they need to get going with their business.

LPG want government to establish this scheme to back in the creativity and ingenuity of Ghanaians and grow more good local jobs.

By: Rainbowradioonline.com

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