The process of acquiring licenses and permits for business operations are key determinant of private sector development and economic growth and for that matter, the nature and mode of implementation of these licenses and permits have great effects on the private sector. Any delays caused in acquiring these licenses and permits add to the cost of doing business.
The Private Sector is that part of an economy that is neither owned nor controlled by the state or Government but, is run, by individuals (Investopedia, 2016). The private sector therefore encompasses all profit making businesses and, to stretch the definition, all not-for-profit and charitable entities which, like the private sector, is not owned or controlled by the Government, formally known as the Voluntary sector.
The ICT Industry comprises telecommunications operators, internet service providers, VSAT data operators, software manufacturers, broadcast institutions, ICT education providers, internet cafés, etc. Generally, the Ministry of Communications and the National Communications Authority (NCA) oversee activities in the sector. They have established the necessary legal and regulatory framework which guarantees the safety of investments in the ICT industry Accra lies at the heart of the ICT industry as it hosts the headquarters and branches of many ICT companies as well as associated infrastructure and support companies.
Ghanaian timber is highly valued for its durability and aesthetic appearance. It is used in the manufacture of products such as floorings, furniture, carvings, toys, Mouldings, rafters, sea defense walls, wall cladding piers, and railway sleepers, among other items.
Ghana's utilities sector includes the Water, Sanitation and Electricity Sectors. Ghana water sector is segmented into two parts and are identified as the Urban Water sector and Community Water sector. The Urban Water sector comprises about 87 cities and towns where the national water utility- the Ghana Water Company Limited (GWCL) owns and manages water supply. The sector is under the dual authority of the Ministry of Water Resources, Works and Housing (MWRWH) and of the Ministry of Local Government, Rural Development and Environment (MLGRDE).
The hospitality industry is a broad category of fields within the service industry that includes lodging, event planning, theme parks, transportation, cruise line, and additional fields within the tourism industry. The hospitality industry is a multibillion-dollar industry that depends on the availability of leisure time and disposable income. A hospitality unit such as a restaurant, hotel, or an amusement park consists of multiple groups such as facility maintenance and direct operations (servers, housekeepers, porters, kitchen workers, bartenders, management, marketing, and human resources etc.) Tourism on the other hand is travel for pleasure; also the theory and practice of touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tours. Tourism may be international, or within the traveler's country.
The Ghanaian real estate market has seen significant expansion due to the rapid growth of the Ghanaian economy and the influx of foreign investors into the country. Demand for various types of properties is on the increase and there are high prospects for companies already operating in the industry as well as those seeking to enter the industry. Immense opportunities exist in the construction of residential houses, industrial and commercial houses as well as shopping centres, hotels, and hostels for tertiary institutions.
As an umbrella private sector business association charged with the responsibility of private sector business development in this country, the Private Enterprise Foundation (PEF) is concerne9 about the low patronage of Made-in-Ghana goods. There seems to be an unexplained preference for foreign goods, as opposed to locally manufactured goods. Such consumer attitudes impact negatively on the growth of local industries and the situation
This Report is in response to an invitation from the Private Enterprise Foundation, PEF, to submit a technical proposal to provide consulting services for the study on the Impact of Power Outages on Manufacturing Industries in Ghana. This assignment was undertaken as part of PEF's key strategic objective to maintain a close relationship with private sector business organizations and as a lead organization that plays an advocacy role in influencing policies and regulations of government.
Ghana’s oil and gas prospects are significant. It is believed that Ghana’s oil and gas resources stretches across the country’s shoreline from the west (Cape Three Points) to the east (Keta). Similarly, the Voltaian Basin, which covers over 40 percent of the country’s land mass, is believed to have oil and gas reserves. This Voltaian Basin is yet to be fully explored and will be given priority attention during the medium period. The draft Bill to regulate the upstream petroleum industry is being reviewed with the view to reducing redundancies and further giving effect to the intention to consolidate the activities of the numerous regulatory agencies existing in the energy sector. It is believed that a smaller number of regulatory agencies is needed to manage the sector in order to ensure efficient and coordinated operation and enforcement of regulations.
Ghana's Private Enterprise Foundation (PEF) seeks to influence "government policies and regulations in order to create an enabling environment for a private sector-led economic growth strategy and national development". Associations are a group of people joined together for a shared purpose; in the case of business associations, the commonality is the business of members. Business Associations the world over have a potential to facilitate the development of a strong private sector by representing the interests of business and providing specific support to their members. The recognition of this truism has informed the current drive of the Foundation to explore options available in strengthening business associations (used in this context to include trade associations). This is because the potential of business associations to contribute to a conducive policy environment would not be attained if the associations remain weak.
Road transport is by far the dominant carrier of freight and passengers in Ghana’s land transport system. It carries over 95 percent of all passenger and freight traffic. Most communities, including the rural areas are accessible by road transport. The roads are classified under three categories: trunk roads, urban roads and feeder roads. The Ghana Highway Authority, established in 1974 has responsibility for developing and maintaining the country’s trunk road network totaling 13,367 km, which makes up 33 percent of Ghana’s total road network of 40,186 km. There are railway service connections in Accra, Kumasi, and Takoradi, and the major mining areas, to the sea ports.
PEF wishes to encourage small business units to come together to form larger business units, and so take advantage of the benefits of such units with respect to funding, management expertise and technology.The Ghanaian business scene is dominated by a large number of small "one-man" businesses that make quite a substantial contribution to the national economy. However, such small businesses are highly constrained by limited access to funding, management expertise and efficient technology.Though the benefits of forming large business units with respect to funding, management expertise and technology are generally acknowledged, the local businesses still remain small and are unwilling to pool resources together to form larger business units.
Ghana with a population of over 20 million has only about 250,000 fixed telephone lines, mainly in Accra and Kumasi. With the advent of privatization in the telecommunication sector, there are presently six operators providing voice telephony and the number of telephone lines is said to have increased considerably. In spite of all these, the quality of reception is poor and a greater majority of people in the country are y et to have access to telephone services. There are also delays and difficulty in accessing telephone liines by private businesses. The problem of inadequate facilities and service delivery in the sector thus becomes pronounced.