Friday, February 22, 2019

small scale business

small scale business

Anglogold Ashanti supports small scale industries with maiden trade show in Obuasi -

Posted: 21 Feb 2019 11:44 PM PST

More than one hundred exhibitors are currently taking part in the first ever Clients Exhibition and Trade Show to promote made-in-Ghana products.

The Client Exhibition and Trade Show is expected to provide the platform for small, and medium enterprises to interact with one another, showcase their products and foster partnerships.

Both the Obuasi Municipal and the Obuasi East District Assemblies are partnering the National Board for Small Scale Industries (NBSSI) to roll out the event which is the first of its kind in these areas.

Municipal Director of NBSSI, Kelvin Ofori Atta, said the show seeks to bring players in the MSME sector to grow what was a dying economy.

He said, as part of rendering business development and referral services to their clients, there is the need to promote their activities and showcase them to the whole world.

"To foster a stronger working relationship among players in the Micro and Small Scale Industry, there is the need to bring them under one umbrella since somebody's finished product could be the other person's raw materials," he said.

Executive Director of NBSSI, Madam Kosi Yankey, says the organisation is committed to train and help Small and Micro-enterprises to access funding for their businesses.

She disclosed that Obuasi has been selected among few districts to house a Business Resource Center.

The facility when completed will train individual and private business owners to strengthen the Obuasi economy.

Municipal Chief Executive for Obuasi, Elijah Adansi-Bonah, explained the exhibition is part of moves to actualize the President's vision, there is the need to support Small and Medium Enterprises in patronizing made in Ghana goods.

Mr Adansi-Bonah revealed that the Obuasi Municipal Assembly is in talks with AngloGold Ashanti to assist the youth of Obuasi who want to venture into Agriculture.

The NBSSI Client Exhibition and Trade Show is being sponsored by the Multinational Gold mining firm, AngloGold Ashanti.

Senior Manager for Sustainability at AngloGold Ashanti, Nana Ampofo Bekoe, said the mining giant wants to redefine its relationship with communities they operate in.

By supporting such a venture means being part of a catalyst for development and creating a vibrant trading environment to boost their economies.

"Going forward, he said AGA would introduce an Enterprise Development Programme which would build the capacities of small and Medium Enterprise every year."

He stressed the importance of the reopening of AngloGold Ashanti to the economy of Obuasi in terms of revenue generation to the Assemblies, direct and indirect jobs.

More than a hundred exhibitors made up of Hairdressers, Fashion designers, Agro-processing dealers, bead-makers, Honey maker, photographers, etc have displayed their products eagerly awaiting patronage.

The trade show ends on Sunday, February 24, 2019.




SONA 2019: Government to open 50 small-scale factories - GhanaWeb

Posted: 21 Feb 2019 07:10 AM PST

Business News of Thursday, 21 February 2019


Akufo Sona Parl.jpeg President Akufo-Addo

Fifty (50) small-scale processing factories will be established by the end of this year in 50 districts across the country, President Nana Addo Dankwa Akufo-Addo has said.

The factories are to be situated particularly in areas where there is evidence of significant post-harvest losses.

They will be under the Rural Enterprises Programme, funded by the African Development Bank and the International Fund for Agricultural Development.

President Akufo-Addo in his State of the Nation Address said, "the 'One-District-One- Factory' policy has taken off, and 79 factories under the scheme are at various stages of operation or construction. Another 35 are going through credit appraisal."

He said there is a lot of activity going on under the scheme, and it has awoken the interest of young people to go into manufacturing business adding that the new factories will be owned and managed by organized youth groups, with technical support from the Ministry of Trade and Industry.

He said his administration had decided to give the textiles industry a major motivation to help put it on its strong footing.

According to the President, his administration had identified the struggles of the local textiles industry as many textiles companies had died out of these struggles.

"The local textiles industry is therefore been granted a zero rated tax for the supply of locally made textiles for a period of 3 years" he added.

He also stated the government was set to put in place a tax stamp regime for both locally manufactured and imported textiles to address the challenge of pirated designs from locals in the textiles trade.

He added that Ghana's textiles' import management system had initiated positive control importation of textiles.

"Our local textile industry has been struggling for years, and many textile companies have, indeed, gone under. We have decided to give it a major stimulus to help put it on a strong footing.

"The local textile industry has, therefore, been granted a zero-rated VAT on the supply of locally-made textiles for a period of three years.

"We have put in place a tax stamp regime for both locally manufactured and imported textiles to address the challenge of pirated designs and logos in the textile trade."

Holyoke Economic Development board hires consultant for small business loan study -

Posted: 22 Feb 2019 08:15 AM PST

HOLYOKE - The Holyoke Economic Development and Industrial Corporation will enter into a consulting agreement with Next Street on future loans to businesses.

The firm specializes in strategic and economic development planning, with an emphasis on identifying capital for small businesses and entrepreneurs.

Marcos Marrero, the city's director of Planning and Economic Development, spoke about the need to restructure HEDIC's Loan Program, with loans geared toward small manufacturers or startups.

Marrero spoke during HEDIC's Feb. 21 meeting held at the City Hall Annex.

HEDIC's current loan program offers capital of 30 percent of project costs up to $100,000. Borrowers can use the loans for land or building purchases, equipment, new construction and renovation or as "working capital."

HEDIC's loan program does not meet the needs of local businesses or manufacturers, Marrero said.

"There's not a lot of demand for that type of product," he said.

He recommended Next Street conduct a study of the city's business climate and where future loans should be directed.

Next Street is one of many consultants MassDevelopment has on retainer, according to Marrero. MassDevelpment assist municipalities with financing and economic development issues.

"It will be very valuable to us to restructure the loan program," Marrero told the HEDIC board. HEDIC will provide half of the $62,000 consulting fee.

In a Jan. 30 memo, Next Street noted that while the HEDIC loan program proved successful in the past, the entity has not approved a loan since 2013. The loan program, according to Next Street, used local banks to underwrite the loans.

"It's clear that the manufacturing and small business landscapes have changed in Holyoke. Many of the earlier stage, capital-light business you anecdotally see aren't as attractive for bank financing. As such, the pipeline is not as robust," Next Street stated.

Next Street said HEDIC wants to explore how pooled funds can bolster small-scale manufacturers or entrepreneurs "who are, or strive to be, part Holyoke's economic ecosystem."

The consulting contract calls for Next Street to conduct research on local market conditions and explore potential ways HEDIC can meet the demands for firms "after the mismatch between demand and supply is understood."

Also, Next Street must come up with a strategy for the new loan program, including "roles and responsibilities for sourcing, underwriting and servicing loans, and a clear implementation roadmap to implement the strategy."

Next Street suggested a three-phase assessment: Internal analysis and interviews, local small manufacturer community analysis or exploring the "unique characteristics and trends within Holyoke's small manufacturer business community," and, finally, delve into available data related to capital markets.

County 'puts the best foot forward' with online business directory - Petoskey News-Review

Posted: 22 Feb 2019 07:58 AM PST

OTSEGO COUNTY — There's a new button at the top of the county's website that officials hope will be the first click for people starting or building their business in Otsego County.

The "One Stop Shop Business Center" button takes users to a directory of services meant to help businesses get established including counseling, education, employment incentives and financial help. It also answers questions around zoning, registering a business name or LLC, or working out of a home. The county developed it in partnership with Otsego County Economic Alliance (OCEA).

The online business center went live Feb. 11 and is broken into five sections: business counseling, business incentives, mapping/planning/zoning services, FAQ, and networking (see related story). It is the top button on the county's homepage, and brings together, under one digital umbrella, services and resources that are physically scattered across several office buildings around Gaylord.

Otsego County Administrator Rachel Frisch said the effort is meant to bring together relevant information for new or expanding businesses into one place on the county website.

"The intent is to provide an organized, detailed, convenient means to facilitate business growth," she said. "It's like putting our best foot forward when people are researching our area for business information and opportunities."

The idea for the online business center came out of discussions between Otsego County Board President Ken Borton and Oakland County Executive L. Brooks Patterson. Borton, who also serves as president of Michigan Association of Counties, toured Oakland County facilities two years ago.

"While I was there, I was really interested in how (Patterson) and his team were able to turn the county's economy around after losing 60,000 jobs in the recession," Borton said.

During Borton's second visit to Oakland County along with Frisch, Trisha Adam, Otsego County human resources director, and Lisa McComb, Otsego County Economic Alliance director, Patterson explained how his county set up their own online "one-stop shop" to make it easy for employers to navigate the process and paperwork of doing business in Oakland County.

"On a smaller scale, I didn't see any reason we couldn't do this in Northern Michigan," Borton said. "We want to do everything to welcome businesses that bring living-wage jobs here."

"If by creating the One Stop Shop we can make things easier, more convenient, more efficient and more organized to promote and facilitate bringing in new businesses and strengthening existing businesses, that's a success," Frisch said. "It's been up and running since Feb. 11, so it's still very new. We will continue to add to it and refine it over time."

'One Stop Shop' breakdown Business counseling

• Provides contact information for the OCEA and the regional office of the Small Business Development Center. Free, personalized assistance on developing business/marketing plans, financial analysis, problem solving, management skills and more.

Business incentives

  • Information on numerous Michigan Works! programs to assist employers in posting jobs and finding workers, be reimbursed for on-the-job training, and obtain tax credits and wage subsidies.

• Description of University Center/M-TEC in Gaylord offering academic and career technical/vocational training.

• Otsego County Brownfield Redevelopment Authority offers state and local financial assistance to redevelop contaminated, blighted or functionally obsolete properties.

• Access to Michigan Small Business & Technology Development Centers through OCEA.

• Contact information for Procurement and Technical Assistance Centers, which aids small businesses in bidding and securing government contracts.

• OCEA site and building inventory of vacant industrial, commercial and office space.

• Property Assessed Clean Energy (Public Act 270 of 2010) to promote energy-efficient improvements and renewable energy systems in commercial or industrial properties.

Mapping, planning & zoning

• Contact information for land use services, planning and zoning, capital projects and grants

• Zoning maps

• U.S. Census data

• Permit applications for zoning, parcel division

FAQ section

• Answers to most common questions about starting or building a small business in a directory format


• 4:45 Club gathers every second Tuesday of the month at a local restaurant. Call Brandy Riopelle at (989) 731-0287 for more information.

• Business After Hours events happen monthly at local businesses as an opportunity for colleagues to meet and network.

• Taste of Gaylord is an annual event bringing together local restauranteurs to present their offerings to the public and raises funds for scholarships presented to students studying culinary arts or hospitality management.

Starting a new business? Here's how to fund it - Ravalli Republic

Posted: 22 Feb 2019 11:00 AM PST

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