Government has committed about $100 million to support entrepreneurs in the country, Minister for Business Development has said.
Mohammed Awal said, ‘We want to make young people know that when you have a business idea, the government is willing to support you. In 2017 government devoted 10 million dollars to support startups but this year the amount is being leveraged to 100 million dollars and we will send it to support 3000 startups to scale up.”
He was speaking at the launch of the Graphic Business maiden Tertiary Business Competition in Accra.
The maiden Tertiary Business Competition was launched in a bid to help address the teaming unemployment rate in the country and also to push students to become entrepreneurs.
The competition organized by Graphic Business and the Ministry for Business Development is an inter tertiary business school quiz which will see about 16 tertiary schools vie for the top spot as brains behind the best business idea.
The Director for Marketing and Sales for the Graphic Communications Group Limited, Franklin Sowah explained the competition is to drive entrepreneurial skills among students “from our interaction we notice that there’s a lot of opportunity for the growth of business but then there’s a gap. Our capacities are low in terms of picking up ideas and developing them. But we want to make thinking business a part of us which will help grow our economy.”
The theme for the maiden edition of the Tertiary Business Sense Competition is ‘developing business minds-the hot seat.’