Vice President Dr. Mahamudu Bawumia has expressed concern over Ghana's business climate, warning that it is scaring off young entrepreneurs.
The Vice President made the comment as part of his engagements with key stakeholders, including the Council of Indigenous Business Association in Accra.
Ghana's Business Climate: A Barrier to Young Entrepreneurs
According to Dr. Bawumia, Ghana's greatest strength lies in the talent and determination of its young people, but the country's responsibility is to ensure opportunity keeps pace with their ambition. However, the unfavourable business environment is creating a barrier to entrepreneurship among the youth.
In a recent interview, a Ghanaian show maker expressed frustration over the unfavourable business environment, which is affecting the growth of young entrepreneurs. Dr. Bawumia reacted to the show maker's comment, emphasizing the need for a conducive business environment to foster entrepreneurship among the youth.
Skills Gap: A Major Challenge for Young Entrepreneurs
Dr. Bawumia identified a skills gap as one of the major challenges facing young entrepreneurs in Ghana. According to him, many students who graduate from university are not equipped with the skills to innovate and create new companies. This, he said, is why many students who go to university have a big promise of starting their own businesses, but it's not working today because there are no spaces in the job market.
The job market is filled, and companies are not being created, which is why a lot of students go to university with the promise of starting their own businesses, but it's not working today. Dr. Bawumia emphasized the need for young entrepreneurs to be equipped with the necessary skills to innovate and create new companies.
The Way Forward
Dr. Bawumia's comments come at a time when the country is looking for ways to create jobs and stimulate economic growth. The Vice President's warning is a call to action for policymakers and stakeholders to create a conducive business environment that will foster entrepreneurship among the youth. It remains to be seen how the government will respond to Dr. Bawumia's warning and implement policies to address the challenges facing young entrepreneurs in Ghana.
Source: 3News
