- By Admin
Given the importance of formalization to business development, USAID Feed the Future under their Market Systems and Resilience (MSR) Project contracted EISD to provide capacity building for 77 Micro, Small and Medium Enterprises under their zones of influence districts in the Northern Region. These included Sagnarigu, Gusheigu, Karaga, Mion, Yendi and Nanton disticts.
EISD in collaboration with other partners including the Ghana Enterprise Agency and Business Advisory Centers in all districts selected 77 MSMEs to benefit from this project.
A business diagnostic was done by our project team to have a true appreciation of the needs of the businesses and know where each business stood. This then informed our intervention design.
Next was the Business Formalization, Branding and Improvement Training for all the MSMEs. This saw us provide insights into the Statutory, legal and regulatory frameworks governing MSMEs in Ghana. We also took business through Marketing and branding techniques for Agricultural products as weak as customer service, sales and digital marketing insights.
The concept of 5S and Kaizen (continuous improvement) at the workplace to improve productivity and efficiency was not left out.
Our team in collaboration with the Registrar of Companies took the data of all MSMEs to have their businesses formally registered. All 77 businesses have up to date Business Certificates. Our team also engaged the relevant agencies for product licensing and Progressive licensing for the business. All the businesses now know how to go about this and have their products duly licensed.
Additionally, in collaboration with MTN, all MSMEs have been provided with Merchant SIM cards for the businesses.
The next phase of the training were sessions on Financial Literacy, MSME financing and Bookkeeping. All enterprises were taken through lessons in Financial Literacy, MSME financing, budgeting and financial planning as well as extensive record keeping best practices. Again, all MSMEs were provided with record keeping books for DEBIT, CREDIT, STOCK and INVENTORY, EXPENDITURE and lastly, CASH and SALES books. They were taken through the nitty grittiest of record keeping and ensure that their financial records are accurate, up to date, and organized allowing for effective financial management and decision making.
Our engagements were all very interactive and participatory, using PowerPoint presentations, group activities including discussions, role playing simulations and case studies.
A total of 77 participants were involved in this endeavor: 9 from Gusheigu, 17 from Karaga, 12 from Mion, 9 from Nanton, 12 from Yendi and 18 from Sagnarigu with a female participation of 97%.
84% of the participants were engaged in processing and production with 9% engaged in Marketing and 7% engaged in aggregation of Agric produce.
Participants were involved in a number of agricultural produce including soyabeans (35%), groundnut (21%), shea (17%), rice (12%), maize (10%), vegetables (3%), fish (1%) and livestock rearing (1%).
This project has been a transformative experience for all participants. They have formalized their businesses and gained vital skills for growth.
What next for the businesses? Market Access for the businesses is being done. Once the businesses have finalized their product licensing, EISD in collaboration with our Canadian partners the I AM WORTH IT Project will onboard all businesses unto the I AM WORTH IT APP. By this, we will provide them access to markets both locally and internationally as well as a network of like minded business people where they can learn and share experiences. By being on the I AM WORTH IT APP, they automatically enjoy our one-year post training support which includes refresher training, coaching and mentorship support, expert engagements and more.
For us at EISD, as partners of MSR and as key players in the development ecosystem, this assignment may have come to an end but our engagements with the MSMEs have only just begun. They all now form part of our database and would be legible to benefit from several Business Development Services we provide. The handholding continues. Our doors are always open for further collaboration and implementation.