A workshop for Small and Medium Businesses (SMEs) has been organised by ACCESS Bank and the Design and Thinking Innovation Hub (D-Hub) of the University of Cape Coast (UCC) to improve and expand their financial and digitalization capacities for business growth.
The workshop's topic was "Fundamentals of Entrepreneurial Finance- What Every Entrepreneur Should Know," and it was hosted in Cape Coast with assistance from the Development Bank of Ghana.
Businesswomen, fashion designers, hairdressers, sellers, and commercial organisations made up the 200 participants.
Presentations on "Cyber Hygiene," "Agencies Banking," and "Entrepreneurial Finance" were given by facilitators from various financial agencies and institutions.
Jones Darmoe, the Zonal Head for Business Banking, addressed attendees of the forum and advised SMEs to utilise digitalization to promote their businesses as it was a vital driver.
Access Bank and UCC give Businesses growth-oriented tools.
SME involvement
Mr. Darmoe said that SMEs made a significant contribution to the Economy of the nation, stating that the sector was responsible for more than 70% of employment in Ghana and more than 60% of GDP.
He observed that over 170 SMEs participated in a trade show and networking event hosted in Accra last year in collaboration with the Graphic Communications Group Ltd, which he said had an impact on over 60,000 businesspeople throughout the course of the event.
In an effort to boost SMEs and ensure improved levels of access to credit facilities, Mr. Darmoe added that the bank has also given funding options to SMEs through their Quick Business Loans, business consulting services, and mentorship programme.
The goal of the centre, according to Dr. Keren Naa Abeka Arthur, director of the Design and Thinking Innovation Hub at UCC, is to instill an entrepreneurial attitude among university students.
She said that this was done to assist students grasp what it means to do business in the real world by giving them an early taste of what work life is like.
Internet safety
Cyber hygiene was taught to the attendees by Access Bank's Rosemond Addo-Sampong, who claimed that it was no longer optional for everyone to practise good cyber hygiene.
She emphasised the need of practising cyber hygiene for entrepreneurs, company owners, and their stakeholders in order to safeguard their organisations from threats such as ransomware, data loss, identity theft, malware attacks, and reputational harm.
Avoid using a single password for multiple websites and applications, and stay away from posting private information on social media, she said.
learned experiences
Participant Philomena Akua Serwaa Vicar, CEO of Destimena cosmetics, said the course has expanded her understanding of how to handle her finances as a start-up in an interview with Daily Graphic.
I've learned how to document all of my transactions and work on my financial statements, which I hope will help the firm succeed, she added.
Stella Baah Dandson, a caterer better known by her stage as Mama Africa, said the course had energised her and taught her a lot about digital skills and entrepreneurship funding.
She hoped Access Bank will hold the conference every year to promote
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