Telecel Business Runaway in Takoradi equips SMEs with practical tools for growth

Telecel Ghana’s Business Runway, held in Takoradi, Ghana, provided a valuable experience for numerous entrepreneurs and owners of small to medium-sized businesses. This first-ever event in the Western Region, organized as part of Telecel’s SME Month activities, brought together diverse professionals for discussions on critical topics such as financing, digitalization, marketing, tax compliance, leadership, and market access.

The event, themed "Connect to Growth: Unlock More," aimed to empower participants with practical insights into overcoming the obstacles they face in their businesses.

Chief Executive Officer of Telecel Ghana, Ing. Patricia Obo-Nai, revealed that the company's decision to bring the Business Runway to Takoradi was to extend its support for small and medium-sized enterprises (SMEs) beyond the capital city, Accra. Many entrepreneurs possess promising products and great ambitions, but they struggle with visibility, access to new markets, and the necessary skills to foster growth.

The Business Runway, thus, aimed to connect SMEs with the essential knowledge, tools, networks, and opportunities necessary to achieve further expansion.

Western Regional Minister, Joseph Nelson, highlighted the significance of focusing on SMEs in the Western Region, a region rich in economic potential across sectors such as oil and gas, mining, agriculture, agro-processing, manufacturing, tourism, and logistics. However, the challenge lies in transforming these opportunities into sustainable businesses, jobs, and wealth for the region's inhabitants.

Nelson emphasized that SMEs remain vital drivers of economic growth but often encounter difficulties with financial access, market reach, skills, technology, and business networks. He urged entrepreneurs to formalize their operations, invest in skills and technology, understand their markets, and strive to add value to their products and services.

Furthermore, Nelson called for enhanced collaboration between the government and the private sector to foster an environment conducive to business growth and competitiveness beyond local communities.

Entrepreneur and Founder of McDan Group, Dr. Daniel McKorley, shared a crucial lesson for SMEs: access to finance alone does not guarantee business growth. Instead, entrepreneurs must first recognize the potential benefits of additional capital before seeking it. He challenged business owners to carefully assess how acquiring more funds would impact their enterprises. McKorley encouraged owners to thoroughly understand their revenue streams and the potential returns on investment.