A group photograph of participants at the training workshop in Accra
MSMEs in Ghana face numerous challenges that hinder their operations. Key among them is the lack of enhanced technical and managerial skills to effectively run their businesses to become competitive, profitable and grow to create jobs. In Ghana, this inability to adequately understand the dynamics of their sector of operations makes MSMEs uncompetitive. Their inefficiency is characterized by the following; failing to track their finances; low reserve capital; poor choice of location; poor execution of operations and non-viable business model; absence of innovations; ineffective marketing strategies; paucity or absence of pertinent information; and underestimating the competition.
All the above can be attributed to shallow and mediocre management capabilities of the majority of owners and managers of these companies or businesses coupled with low skills-set and inadequate technical abilities of the staff of these businesses for efficient operations. This therefore calls for a holistic approach that will continuously provide sustainable capacity building solutions to these businesses. To strengthen the capacities and capabilities of the associations to deliver to their constituent members PEF engaged the BUSAC Fund for support to build the capacity of the technical team of the Federation and its member associations to impart succinct training to their constituent businesses.
As a result of a nationwide programme that was undertaken by PEF in 2015, the following capacity building needs were identified; Research and Advocacy, Data aggregation and Record Keeping, Business plan development and Financial Management, Participation in Public Tenders, Taxation. To ensure sustainability of the provision of training to these SMEs, PEF adopted a Training of Trainers (TOT) approach. This will ensure that the secretariat of PEF and the beneficiary member associations have the requisite skills to continue to administer these trainings beyond the support to be provided by the BDS consultant. Subsequently, the Federation will roll out these trainings on a large scale.