assistance

Accra, March 4, GNA - Mr Kwadwo Afram-Aseidu, Deputy Minister, Trade, Industry and President's Special Initiative, has urged small and medium scale enterprises to form clusters in order to win Government favour instead of being single units soliciting for its assistance.

"The formation of such clusters will enable the SMEs provide the requisite collateral security to acquire the credit facilities which the banks are only willing to give when there is the guarantee that they will be repaid.

"Besides, if they are united and come to government for assistance they would be helped," Mr Afram-Aseidu told the Ghana News Agency on Thursday when he paid a visit to the ongoing 9th Ghana International Trade Fair.

He said the loan culture for business in the country must change, adding: "No bank will like to make loss by giving loans out and not getting it back. The habit of non-payment of loans should give way to being much more responsible in order to convince the banks".

Commenting on the fair, the Deputy Trade Minister said there had been much improvement on the quality of locally made products which was a positive sign showing that indigenous businesses were thriving. He said it was crucial for people to know that fairs generally were organised to offer opportunity to businessmen and women to showcase their products so that they could get access to the export market.

He said exhibitors were, therefore, required to make a lot of contacts with the business community of the host nation and other foreign companies to find ways expanding their horizons.