A startling revelation that nearly three-quarters of businesses in Ghana collapse within five years has reignited concerns about sustainability and capacity building within the small and medium enterprise (SME) sector.
The Managing Director of Ephesus Business School and Lead Trainer for SME Grow Africa (SMEGA), Daniel Sackey, says an estimated 74 per cent of businesses in Ghana fail by their fifth year, largely due to poor structuring and weak internal controls.
Speaking at an SME Accelerate Clinic organised by MTN Ghana in collaboration with SMEGA, Mr. Sackey stressed the urgent need for business owners to adopt robust systems and financial discipline.
“Many small businesses, despite good intentions, are not structured to succeed because they lack effective systems of control,” he explained.
“About 74 per cent of businesses in Ghana collapse by the end of their fifth year, leaving only 26 per cent surviving. This is largely because most entrepreneurs do not have control over what goes in and what comes out of their businesses,” he added.
The clinic, which brought together more than 200 business owners, focused on equipping participants with practical skills in bookkeeping, working capital management, financial decision-making, cost-benefit analysis, and risk identification and mitigation.
Also speaking at the event, the Manager for MTN SME Sales (South), Louisa Ago Anarfi, highlighted the company’s commitment to strengthening SMEs across the country.
“The SME Accelerate Clinic is designed to support small and medium enterprises nationwide with the requisite training needed to scale up,” she noted.
“We believe SMEs are the backbone of Ghana’s economy, and this initiative is aimed at making them future-ready.”
She further encouraged young entrepreneurs to take advantage of such capacity-building programmes.
“We urge youth entrepreneurs to actively participate in the various initiatives MTN is rolling out to support SMEs across the country,” she added.
On his part, the Executive Director of SME Grow Africa (SMEGA), Kwasi Ofori, reiterated the organisation’s commitment to building resilient businesses.
“Our focus is to help businesses grow and become well-structured in their core operations so they can contribute meaningfully to the economy,” he stated.
“We are driven to ensure SMEs not only grow but also outlive their founders while connecting them to international partners for greater opportunities.”
The MTN SME Accelerate Clinic is an initiative by MTN Ghana, in partnership with SME Grow Africa (SMEGA), aimed at empowering SMEs with critical business skills and knowledge.
The programme provides hands-on training, mentorship, and access to networks to help entrepreneurs scale sustainably. By focusing on financial literacy, operational efficiency, and strategic growth, it seeks to position SMEs as key drivers of Ghana’s economic development.
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