A large number of entrepreneurs and small and medium-sized business owners have participated in Telecel Ghana’s Business Runway in Takoradi. The programme, held in the Western Region for the first time as part of Telecel’s SME Month activities, brought together entrepreneurs, business leaders and experts for practical discussions on financing, digitalisation, marketing, tax compliance, leadership and access to markets. The initiative was held under the theme “Connect to Growth: Unlock More.”
The Chief Executive Officer of Telecel Ghana, Ing. Patricia Obo-Nai, said the company’s decision to bring the Business Runway to Takoradi was intended to take its SME support closer to businesses outside Accra. Many entrepreneurs have passion and good products but face difficulties with visibility, accessing new markets and acquiring the practical skills required to grow. The Business Runway was designed to connect SMEs with the knowledge, tools, networks and opportunities needed to unlock further growth.
The Western Regional Minister, Joseph Nelson, said the focus on SMEs was particularly important to the region given its significant economic potential. The Western Region has opportunities across oil and gas, mining, agriculture, agro-processing, manufacturing, tourism and logistics. He said the challenge was to ensure these opportunities translate into sustainable businesses, jobs and wealth for people in the region.
Mr Nelson urged entrepreneurs to formalise their operations, invest in skills and technology, understand their markets and seek opportunities to add value to products and services. He also called for stronger collaboration between government and the private sector to create an environment where businesses can start, grow and compete beyond their immediate communities.
For entrepreneur and Founder and Executive Chairman of McDan Group, Dr Daniel McKorley, one of the biggest lessons for SMEs is that access to finance does not automatically translate into business growth. He challenged entrepreneurs to first determine what additional capital would achieve before seeking funding. “There’s a big difference between needing money and knowing what to do with money,” he said.
Dr McKorley urged business owners to understand their revenue, costs, profits, cash flow, receivables and liabilities before taking on financing. He also emphasised the importance of people and systems as businesses expand. According to him, many businesses struggle when they move from the founder-led stage into an organic growth phase without establishing proper structures and corporate governance.
Telecel Ghana says it remains committed to supporting SMEs through reliable connectivity, digital solutions and programmes that provide entrepreneurs with knowledge and networks to grow their businesses. The company also reiterated its commitment to continued investment in Ghana’s digital infrastructure and to developing solutions that can improve productivity and enable businesses to participate more effectively in the digital economy.
Key points
- Telecel Ghana's Business Runway programme provides practical tools and knowledge to SMEs for growth and development.
- The programme focuses on financing, digitalisation, marketing, tax compliance, leadership and access to markets.
- The initiative aims to connect SMEs with the knowledge, tools, networks and opportunities needed to unlock further growth.
