Pyxera Global, a non-profit organisation has entered into a partnership with Master Card Foundation to register over 200 Micro, Small and Medium scale Enterprises (MSMEs) in the Western Region to help them embrace new business opportunities.
The registration which was funded by Master Card Foundation is an opportunity for these enterprises to register their businesses with the Registrar General’s Department at a subsidized fee.
According to Pyxera Global, the ravages of COVID-19 pandemic, has adversely affected businesses, especially micro, small and medium scale enterprises. Pyxera Global noted that, through the government COVID-19 recovery plan, some businesses have been able to revive their operations through the government’s stimulus package. However, others were unable to benefit, owing to the lack of business registration certificates and proper documentation.
The programme Director of MSME COVID-19 Recovery and Resilience Programme at Pyxera Global, Kofi Koomson, explained that the documentation and registration is to help MSMEs formalize their businesses.
“We are working closely with the registrar generals department, helping these businesses to formalize. We’ve realized that the government’s attention is actually turning to the growth of MSMEs. So, what we hope to do is to help these businesses register and get formalized with registrar generals department. By so doing, they will be able to position their businesses to embrace some of these opportunities and support”.Kofi Koomson
Mr Kofi Koomson further stressed on the need for businesses to take advantage of the opportunity created by Pyxera Global and Master card partnership. This, he stated, will open their eyes to greater opportunities so that they can expand. He also charged MSMEs to embrace technology to help them drive their businesses.
The MSME COVID-19 Recovery and Resilience Programme Director at Pyxera Global revealed that his outfit has conducted a survey which shows that many MSMEs are unable to tap opportunities available to them because they do not have the necessary documentation.
“From the data we’ve collated so far, a lot of these micro-businesses have operated several years without registration. So, as a result, there are a lot of business opportunities they could have embraced but they have not realized since they are not registered.”Kofi Koomson
Mr Kofi Koomson bemoaned the rise in third party engagements by MSMEs. He disclosed that the third parties whose services the MSMEs engage, take undue advantage of them for their own gain.
“They are always at the mercy of middlemen who use them to secure bigger contracts on their hindsight.”Kofi Koomson
In the intervening time, the participants expressed their satisfaction with the opportunities that the partnership presented to them. The participants thanked Pyxera Global and MasterCard for the education and support they offered them. Many MSMEs were also happy as they are able to register their businesses.
The MSME COVID-19 Recovery and Resilience Programme is aimed at helping ten thousand micro small and medium scale enterprises in the country and is majorly skewed towards women-owned businesses. The programme is absolving fifty per cent of the total registration fee of sixty Ghana Cedis (GHC60) each.