The Ghana National Chamber of Commerce and Industry

led by Prof. John B.K Aheto, held a training on “Responsible Financing – Financial Management by SMEs”, for its members in 4 regions during the month of June, 2018. The regions covered includes: Greater Accra, Ashanti Region – Kumasi, Central Region – Cape Coast, Western Region – Takoradi, Western Region – Tarkwa. The next phase of the training will cover Upper East Region and the Tema Metropolis.    

The specific topics discussed during the training were:

1.      Definitions relevant terms

2.      Time value of money

3.      Analysis of Entrepreneurship and Business Ownership (Entrepreneurial Model)

4.      Stages of SME development

5.      Plans – feasibility study, business, strategic, and life cycle financing

6.      Situational Analysis

7.      Sources of business (SME) finance

8.      Twelve Essential things needed for business take off

9.      Twenty Critical/Relevant issues or questions before starting a business

10. Financing plans for the various stages of enterprise development

11. Reasons for failure of SMEs

12. Need and conditions for business loans

13. Negotiating business loans terms and loan approval process

14. Twelve key elements of practical responsible personal finance 

15. Financial Planning tools (scheduling and budgeting)

The purpose of this training programme is to equip members on how to manage their business finances effectively.………………………………………………………………………………………………………………………………………….