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The General Manager of Experts Consult Ltd. Mr. Henry Kojo-Adu Ameyaw has described the financial support provided by the government to small and medium scale Enterprises (SME’s) as commendable in the midst of the COVID-19 pandemic.
Speaking in an interview in Accra, he said the health crises facing the world in recent times has a potential of crippling businesses especially smaller ones that may not have any form of financial support from other sources beyond their operations hence government efforts of providing some form of financial relief to enable them to remain in business is laudable.
He said “It is a good thing for the government to support local businesses as this is the only way to drive GDP. There is always a criterion for the way things are done in anything, a criterion for even admissions to schools. Government may, therefore, have its criteria of using a workforce of about 100, but usually, those are the kind of businesses that are mostly affected.”
Following the impact of the COVID-19 pandemic on businesses, President Nana Addo Dankwa Akufo-Addo launched a GH¢600 million Coronavirus Alleviation Programme (CAP) business support scheme intended to support small and medium-scale enterprises (SMEs) impacted by the novel coronavirus (COVID-19).
The fund is intended to provide relief to SMEs across the country that has been negatively affected by the disease with NBSSI as the disbursing Agency.
When asked what form of support Government could also offer to other larger businesses with a workforce of over a 100, Mr. Ameyaw said even though some well-established companies operating in the country may have assistance from branches abroad or sources of raising revenue in the wake of the deadly pandemic, the most important thing that would help boost local businesses is for government to create an enabling environment for businesses to work.
He emphasized “Organisations like some of us thrive on commissions, we are paid when we deliver results and not efforts and so if macroeconomic businesses are not doing so well, how do we go and chase them for debt if they don’t have it, how are they going to pay. It is therefore important for the government to always create the opportunity for companies to do their work.
He also stated that although there has been similar economic challenges as a result of the credit crunch in the past which led to a recession, COVID-19 has far-reaching consequences not only by affecting world economies but also killing people alongside the credit crunch as anticipated by various economists.
The General Manager mentioned that despite the negative impact of COVID-19, a lot of businesses have learnt to appreciate the importance of investing for the future considering the sudden disruptions in the global business landscape.
“COVID-19 has pushed a lot of businesses to plan for the future, even personal lives of people have changed, people have learnt to plan. For instance, at the time of the lock down if you don’t have enough on you there is trouble. These are lessons for all of us, the world is telling us that we need to put our perspectives right.” he observed.
Experts Consult Ltd. is incorporated under the laws of Ghana and engaged in the service of Debt Recovery, Debt Management, Risk and Monitoring, Revenue Collection and Process Serving Company with its Corporate Office in Accra,
The firm is established to assist financial Institutions, companies and individuals repossess their hard-earned assets or cash that could have been lost or written off as bad debts.
Experts Consult Ltd. also has offices in Kumasi, Tema, Takoradi and is affiliated with some law firms in other parts of the country.