How the Government of Ghana can create an enabling business environment

• The government must ensure that adequate capital is accessible to existing businesses as well as prospective entrepreneurs. This can be done by making it possible for investors to obtain loans from financial institutions without being asked to provide collaterals.
• Not only must capital be accessible to investors but interest on loans should be such that it does not unnecessarily increase the costs of operations, thus leading to the collapse of many firms.
• Infrastructure – the government must extend social infrastructure like good roads, electricity, water, etc to all parts of the country to attract private investors to the locations they decide.
• The government should initiate and implement policies that protect local private businesses against external competition. This can be done by limiting the importation of goods which can be produced locally.
• Tax holidays could be granted to start-ups to enable them find their feet in their respective industries.
• By simplifying the process of registering and running companies, the government would be encouraging people to invest in the economy.
• The government can reduce the cost of production of local firms by reducing the taxes imposed on imports of machinery and raw materials.