Dr. Awal Mohammed, Minister of Business Development speaking at the launch of the Graphic Tertiary Business Sense Competition
Government says it’s ready to support 3,000 young entrepreneurs with funding this year to expand their businesses and help reduce unemployment.
In all, government intends to spend between GH?50 million and GH?100 million to support start ups and growing businesses by the end of the year.
Minister of Business Development, Awal Mohammed, disclosed this at the launch of the Graphic Tertiary Business Sense Competition, an inter-tertiary business school quiz competition themed, “Developing Business Minds-The Hot Seat.”
“This year we are going to support 3,000 young people, who come out with business ideas with funding between a minimum of GH?10,000 and a maximum of GH?100,000 per person at 10% interest so that they will pay over a period of two years.”
He indicated that last year his outfit supported 1,350 young people and would want to increase the number to 3,000, this year.
“This is meant to support start ups and small businesses so that they can grow and expand and employ people,” he added.
Dr. Awal bemoaned the disparity between industry and academia because graduates leave school with theoretical ideas, which need to be put into practice.
He said though the public sector could not absorb all graduates, government was bent on assisting those who leave school with a business sense to actualize their dreams.
Between February 18 and February 22, about 16 public and private tertiary institutions in the country would compete on television for about 13 weeks.
The programme is targeted at both tertiary students and members of the general public.
By Abigail Owiredu-Boateng