Vice President Mahamadu Bawumia wants Ghanaian entrepreneurs to consider exploring other markets outside Ghana.
Dr. Bawumia says tapping into the West African market will help them expand and grow.
Speaking at a ceremony in Tamale where startup capitals ranging from GH¢10,000 to GH¢100,000 were given out to some entrepreneurs under, the National Entrepreneurship and Innovation Plan, Dr. Bawumia said improving productivity was important.
“You have to take the bold steps to build your businesses and be competitive. I would like to encourage you to look beyond Ghana and set your sights towards neighbouring Burkina Faso, Mali, Niger and so on.”
He noted further that these foreign markets are “potential markets for your products.”
Vice President Bawumia also urged entrepreneurs to “pay attention to product design and product differentiation, packaging and marketing so that your product will meet both local requirements and global standards.”
He presented cheques of various sums to 250 selected businesses from the Northern, Upper East and Upper West regions under the Presidential Business Support Programme.
The Presidential Business Support Programme is an initiative of the Government to provide financial support to startups to facilitate private sector growth and job creation.
Back in August, 1,350 businesses, from all 10 regions were selected as the first beneficiaries of the Presidential Business Support Programme, an initiative of the Akufo-Addo Government.
Each of the 1,350 beneficiaries is to receive from the Ministry of Business Development, continuous training and capacity building, mentorship and business advisory services, free accounting services, access to business networking opportunities, and, seed capital ranging from GH¢10,000 to GH¢100,000 each.