Assemblies must make business support services available to SMEs – NGO

Mr Benjamin Kpeyibor, Executive Director of Black Stone SME Foundation, a non-governmental organization on Friday called on Municipal and District Assemblies in the Volta Region to make business support services available to Small and Medium Enterprises (SMEs).

He said such services would help the sector to grow, expand and become well established to support the national economy.

Mr Kpeyibor who made the call in an interview with the GNA in Ho, said though the sector had the potential to grow, the lack of book-keeping, focus and absence of succession plans were affecting its growth.

“Access to credit is no longer our major challenge but what we need now is technical support from Assemblies and other stakeholders,” Mr Kpeyibor stated.

He said the Assemblies could help market the SMEs, give them small contracts and monitor their performance. “The Assemblies must work closely with the SMEs and encourage people in the sector to help reduce unemployment,” Mr Kpeyibor said.

He also urged banks with products for SMEs to develop interest in their performance and help them to repay their loans.

“It is good many SMEs are springing up everywhere in the Region but the bad news is that after a while, they fizzle out because of their inability to pay bank loans,” he stated.

Source: GNA