The Entrepreneurial Agenda: Driving Micro, Small and Medium Enterprises in Ghana

By Samira ABDUL-AZEEZ

The Ghana Enterprises Agency (GEA), established under Act 1043 of Parliament, plays a pivotal role in shaping the Micro, Small, and Medium Enterprises (MSMEs) ecosystem.

With a mandate to promote growth, competitiveness, and sustainability, the agency drives entrepreneurship, innovation, and inclusive economic development through well-structured initiatives and programs.

Across developing countries, including Ghana, MSMEs are the backbone of economic progress. They spur innovation, create jobs, and reduce poverty. In Ghana, they account for more than 70% of all businesses and significantly contribute to employment, income generation, and productivity. Strengthening and formalizing this sector has, therefore become a national priority.

Many of these enterprises are informal, family-owned, and resource-constrained, operating across agriculture, agro-processing, retail, trade, manufacturing, and services. Bringing them into the formal economy under Ghana’s reset agenda will improve sustainability and enhance the overall business environment.

The Entrepreneurial Agenda is central to advancing the MSME sector. It focuses on creating an enabling environment that empowers entrepreneurs to achieve economic independence while driving inclusive growth. Supporting MSMEs strengthens not only individual businesses but also delivers broader social and economic benefits. More than a profit-making venture, this agenda is a strategic pathway to building a resilient and equitable society. Its priorities include:

• Simplifying business processes and regulations
• Supporting innovation and digital transformation
• Expanding access to finance and markets
• Building human capital and skills
• Promoting inclusivity across the sector

Importantly, the Entrepreneurial Agenda aligns with the Sustainable Development Goals (SDGs), it directly advances SDG 1 (No Poverty) and SDG 8 (Decent Work and Economic Growth) jobs and creation incomes growth.

It strengthens SDG 5 (Gender Equality) by empowering women entrepreneurs, and SDG 10 (Reduced Inequalities) by expanding opportunities for marginalized groups, including persons with disabilities.

Its emphasis on innovation and technology supports SDG 9 (Industry, Innovation, and Infrastructure), while partnerships across institutions reflect SDG 17 (Partnerships for the Goals).

Institutionalization of this agenda is critical. Agencies such as GEA, the National Entrepreneurship and Innovation Programme (NEIP), and the Microfinance and Small Loans Centre (MASLOC), must collaborate to provide a structured framework for entrepreneurship development.

This means, reducing bureaucratic hurdles, streamlining regulations, improving the business ecosystem, and expanding access to finance and markets. Such interventions will help cultivate innovative skills across key sectors of the economy, driving sustained growth and development.

Conclusion

The Entrepreneurial Agenda positions both startups and established businesses to thrive by improving access to finance, markets, and technical support. It also promotes knowledge-sharing platforms such as conferences, incubators and networking events, connecting entrepreneurs with investors and stakeholders to build partnerships.

Over the long term, this strategy can establish Ghana as a hub for inclusive entrepreneurship and sustainable economic growth, unlocking opportunities, creating jobs, and strengthening the national economy.

References

• Government of Ghana. Ghana Enterprises Agency Act, 2020 (Act 1043). Accra: Assembly Press.
• Ghana Enterprises Agency (GEA). Mandate and Strategic Objectives. https://gea.gov.gh.
• International Finance Corporation (IFC). MSME Finance Gap: Assessment of the Shortfalls and Opportunities in Financing Micro, Small, and Medium Enterprises in Emerging Markets. Washington, DC: World Bank Group, 2017.
• Ghana Statistical Service (GSS). Integrated Business Establishment Survey Report (IBES), 2021. Accra: GSS.
• Organization for Economic Co-operation and Development (OECD). Entrepreneurship and SME Statistics. Paris: OECD, 2020.
• United Nations Conference on Trade and Development (UNCTAD). The Role of MSMEs in Economic Development. Geneva: UNCT
• Ministry of Trade, Agribusiness and Industry (MoTI). National MSME and Entrepreneurship Policy. Accra: MoTI, 2021.
• World Bank. Doing Business in Ghana: Enabling Environment for SMEs. Washington, DC: World Bank Group, 2020.

The writer is the Deputy Chief Executive Officer Ghana Enterprises Agency)

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