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

Telecel Ghana's Business Runway, held in Takoradi, Ghana's Western Region, provided an eye-opening experience for entrepreneurs and small to medium-sized business owners. The event, part of Telecel’s SME Month activities, brought together business leaders and experts to discuss practical strategies for growth, including financing, digitalization, marketing, tax compliance, leadership, and market access. The theme of the initiative was "Connect to Growth: Unlock More."

The Business Runway in Takoradi aimed to extend Telecel Ghana's support beyond the capital city, Accra, to other parts of the country where many entrepreneurs face difficulties in visibility, market access, and acquiring essential skills for business expansion. The Chief Executive Officer of Telecel Ghana, Ing. Patricia Obo-Nai, emphasized that the program connected SMEs with valuable knowledge, tools, networks, and opportunities to foster further growth.

The Western Regional Minister, Joseph Nelson, highlighted the Western Region's economic potential in areas such as oil and gas, mining, agriculture, agro-processing, manufacturing, tourism, and logistics. He stressed that SMEs are crucial drivers of economic growth but often struggle with access to finance, markets, skills, technology, and business networks.

Nelson urged entrepreneurs to formalize their operations, invest in skills and technology, understand their markets, and seek opportunities to add value to their products and services.

Entrepreneur and Founder and Executive Chairman of McDan Group, Dr. Daniel McKorley, shared his insights on the challenges faced by SMEs. He pointed out that access to finance does not automatically guarantee business growth and urged entrepreneurs to first determine the impact of additional capital before seeking funding. McKorley emphasized the importance of understanding revenue and how to effectively utilize funds to drive business growth.