The Ghanaian Journal

Mr. Sam Akomea, a management consultant at Kwame Nkrumah University of Science and Technology, said on Tuesday that the slow pace in the growth of the private sector was due to factors including poor management.

He mentioned lack of professional/trained staff, education, low income and institutional support as other factors.

Speaking in an interview with the Ghana News Agency, Mr. Akomea said though many people had money to start their small private businesses, most of them were not enlightened enough to engage the services of qualified professionals.

He attributed this to illiteracy and said it was one of the biggest problems facing the private sector and this impacted negatively on their businesses.

Mr. Akomea said the problem of low remuneration “leaves workers with little discretionary income, which discourages them from patronizing goods and services of entrepreneurs”.

He said the growth and expansion of small enterprises could be achieved in an atmosphere of general economic improvement and the offer of institutional support.