Welcome to Thursday the 16th of February and the 47th Day of 2023. Today, we are looking at the 5 ORGANISATIONS THAT HELP STARTUPS & SMALL BUSINESSES IN GHANA
Starting a business anywhere is not an easy undertaking and particularly in Ghana; it can be a daunting task indeed with resources & support almost non-existent. With about 90% of startups failing within the first 3 to 5 years of existence, it is scary just thinking about going into business for yourself or investing in one.
There are several reasons why startups and small businesses fail but predominant of them are lack of finance, lack of market research & relevant information, capacity of founders and ineffective marketing. Recent years has seen the emergence of quite a number of organizations that provide support to startups to ensure their survival, growth and sustainability.
Below are 5 of these organizations:
1. Kosmos Innovation Center (KIC) – Started by Kosmos Energy LLC back in 2016 and currently partnering with Mastercard Foundation and Cargill, KIC has successfully invested in hundreds of young entrepreneurs and small businesses who have transformative ideas predominantly focused on Agribusiness & Technology. KIC provides tailored coaching, skills building, expert mentorship, seed funding and facilitating connections within and across industries. Read more: http://www.kicghana.org
2. Ghana Climate Innovation Centre (GCIC) – GCIC’s work is at the nexus of private enterprise, climate change, economic development and ecological prosperity. They support an exceptional set of transformational businesses and entrepreneurs who are pioneering adaptive and mitigating solutions for climate change issues in Ghana. GCIC has supported over 101 enterprises that have climate innovation in five key economic sectors, namely: climate-smart agriculture, solar power, energy efficiency, domestic waste management, and water management and purification. Read more: https://www.ghanacic.org
3. Innohub – Innohub is a Business Accelerator, Management Consulting and Impact Investment platform, which supports Small and Growing Businesses to become sustainable, scalable and investment ready and match them to the capital needed for growth. Innohub has supported several businesses with training, financing, tailored enterprise solutions and consulting services. Read more: https://innohub.com.gh
4. MDF West Africa – Since 2009, MDF has provided support to startups and small businesses through capacity building, grants, mentorship, coaching and consulting services. Through its Orange Corners Acceleration Programme; it provides investment funding of up to 50,000 Euros to qualified businesses to enable their growth. Through their Ghana Innovation Hub initiative; they provide physical working space, business development services, investment matchmaking and ecosystem support. Read more: https://ghanainnovationhub.com/
5. Guzakuza : 𝗪𝗼𝗺𝗲𝗻 𝗶𝗻 𝗔𝗴𝗿𝗶𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 – Established in 2015, Guzakuza has directly impacted over 7,000 Women in Agribusiness across the African continent. Through its Ignite programme, it has provided opportunities and served as a platform for Women in Agribusiness particularly, Female Agribusiness Founders to be educated, nurtured and empowered to build sustainable food businesses, spend quality time on their business models and improve their personal development through mentorship, coaching, internship, business simulations, and relevant Agribusiness training. Read more: https://guzakuza.org/
So if you have a business or planning to start one, get in touch with these organizations and get the support you need to survive, grow and be sustainable.