Government has been advised not to lend money to entrepreneurs and private businessmen as the risk involved may be too much for it to bear.
CEO of Ato Conduah and Associates believes that the situation where government establishes funds and grants to provide capital to businesses and entrepreneurs hasn’t worked as expected.
Dr. Ato Conduah stressed that government should instead concern itself with facilitating or assisting these private businessmen to acquire loans and capital from the banks and other financial institutions.
He admitted that “we have good entrepreneurs in this country. One of the major challenge facing them is financing.” but noted that “government should not lend to entrepreneurs. Government should facilitate banks to give entrepreneurs funds for their business. The history is that if you encourage entrepreneurs to benefit from government grants, their business dies when their monies die.”
“Make them responsible for their funding from the banks so they can continue to be in operation and produce results. All the free monies from MASLOC to whatever has all failed” Dr Conduah remarked
Dr Ato Conduah lauded the President for creating the business development Ministry stating that it will help “this government encourage a lot of people to discover their potential”
He advised government that “businesses need financing, they need advisory, they need support, we don’t necessarily need to be given money. They need directions to do their businesses right”