The start-up law is revised to support entrepreneurship

Stakeholders in the startup ecosystem, with support from the National Entrepreneurship and Innovation Program (NEIP), are developing a bill to streamline funding support for startups and entrepreneurs nationwide.

This move is in line with NEIP’s desire to consolidate all business support programs targeting young people under one roof, through a national entrepreneurship policy.

NEIP CEO Kofi Ofosu Nkansah revealed this in an engagement with Enterprise Bureau, as part of its startup dialogue.

According to him, entrepreneurship has risen to a new level in the country, hence the need to ensure all necessary government support to make it the provider of solutions to the growing unemployment situation.

He is therefore optimistic about the prospect of the law, saying it will help transform the ecosystem.

“If you look at the index of startups in Africa, Kenya, Egypt and South Africa, they are quite ahead of Ghana in terms of the amount they are getting into their ecosystem. This is due to the type of building blocks and foundations laid. “

“In Ghana too, we don’t sleep. As I speak the Startups Act is being drafted by stakeholders and once passed by Parliament and receiving Presidential assent we will implement what is in the Act to help drive the growth in the sector,” he said.

“Generally, they need financial support, market access, regulatory support and exemptions, among others. So on the government side, there will be a policy framework available to stimulate the growth of entrepreneurship that we are talking about,” he added.

The engagement with Enterprise Bureau aims to give a platform to renowned agency heads and institutional advocates to engage aspiring and existing entrepreneurs in Africa’s entrepreneurship journeys and to explore the linkages.

Startup Dialogue is an Enterprise Bureau initiative to provide data and insights to the startup ecosystem in Africa to enable stakeholders to make informed decisions.

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