The chart below will help you identify your strengths and weaknesses and will give you a better idea of whether you’re ready to become a small business owner. 

WE members of   the Private Enterprise  Foundation  made up of the Association  of Ghana  industries  (AGI),  Ghana  National  Chamber  of Commerce and Industries (GNCCI), Ghana Association of Bankers (GAB), Federation  of Ghanaian   Exporters  (FAGE),  Ghana  Employers  Association (GEA), Ghana Chamber of Mines (GCM) and others, consisting of major identifiable   private    sector   associations    and   entities,   representing    their member companies and professional  bodies including   Insurance  companies, building and civil engineering firms, contactors,  manufacturers, consultancy service providers,  hospitality  industries,  importers  and exporters,  etc.;

This study is part of a number of studies being conducted by the Private Enterprise Foundation (PEF) under the Private Sector Promotion Programme (PSPP) funded by the United Nations Development Programme (UNDP). The Programme is aimed at strengthening  the technical and institutional  capacity  of  the  private  sector  in  Ghana to  undertake  productive  investments  in order to accelerate the growth of the sector.

Among the strategic objectives of the Private Enterprise Foundation (PEF) IS the policy to maintain a close relationship with private sector business organizations and to be the lead organization that would play an advocacy role in influencing policies and regulations of government. The Foundation would also relate to other internal and external bodies for the creation of an enabling economic environment that would ensure that private business in Ghana could increasingly contribute to national development.

Ghana is endowed with substantial mineral resources and has a well-established mining sector, which has grown considerably in recent years to represent an important pillar of the Ghanaian economy.
The minerals extractive industry currently has thirteen large-scale mining companies and, over three hundred registered small scale mining groups and ninety mine support service companies.

Over the last decade,  Ghana's  real GDP  has grown  steadily  at 4 per cent  per annum on average.  Sectoral  growth  rates in agriculture,  industry  and services have  also   remained   reasonably   positive.   However,  the   macro-economic performance has not facilitated the needed structural transformation of the economy ;  consequently,  the   economy    continues  to  depend   on   primary commodity   exports.   At  about   36   per  cent   of  GDP,   the  contribution  of agriculture has changed  little since  1961  when it reached  35 per cent. Primary commodities account  for 61 . 2 per cent of exports  on average  compared  to  II per cent  for  manufactured goods  (1997-2001). Ghana's  external   debt  grew from  41 .4  per  cent  of  GDP  to  132.2  per  cent  over  the  period  1983-2000, revealing  significant levels of dependence on external  financial  flows.

The  Private  Enterprise  Foundation   (PEF)  is  an  umbrella  private  sector  body devoted  to the orderly   and  healthy  development   of  the  private   sector   in  Ghana   through   ad roach   and promotion.   In the discharge of this responsibility PEF is involved in policy dialogue to ensure that policies favor the smooth growth of the private sector.   In February 2000, PEF organized a  workshop  on the theme "Building  Partnership   with Parliamentary  Committees  - A Private Sector/Legislature Network on Policy  and Laws for Effective  Governance"  for members of 3 relevant  committees   of  parliament   with  a  view  to  striking  the  necessary  relationship   and acquaintances  to facilitate its advocacy role.  Later events however did not allow for the full implementation    of   the   recommendations of   that   workshop.    

The Ghanaian private sector has been designated as the engine of growth in the country's new development strategy.  This new role of the private sector is no doubt a challenging one. This is because the private sector is expected to play roles hitherto the preserve of the state.

Ghana Vision 2020: A Middle Income Country by the Year 2020

Ghana seeks to become a middle income country by the year 2020.  This ambitious objective, embodied in the Government's Vision 2020, requires an average annual growth rate of 8% from 1995-2020.  Maintaining the present policy framework, and thus its historical growth rate, will only achieve Half of what is required--Ghana must work twice as hard.  The accelerated growth needed to attain the Objective of Vision 2020 can only come from a radical and sustained shift in the policy framework, to One that effectively implements an outward-oriented growth strategy.  To achieve the required growth rate, exports must grow at least 10% per year--doubling every seven years.  But traditional exports, currently accounting for 85% of total exports, are projected to grow at most by 5% per annum.  This means that non-traditional exports must be the new engine of growth, growing at more than 15% per year from now to 2020.  Export growth rates of this magnitude will result only if the entire economy is Focused on international competitiveness.