The President of C4C Group of Companies Global, and National Secretary of the National Projects Advocacy Group of the Ministry of Information, Dr. Michael Kojo Kyeremateng has indicated that the motivations of entrepreneurs and micro, small and medium sized enterprises can be leveraged to tackle the world’s problems, while helping to implement the Sustainable Development Goals, especially in underperforming sectors and in social recovery.
According to him, the role of entrepreneurship and micro, small and medium sized enterprises in social and economic development has become more critical than ever and will be among the priority policy measures of Member States during post COVID-19 recovery and beyond.
He said, entrepreneurship has globally remained a formidable form of employment and livelihood.
In a speech read on his behalf at the just ended NASPA End of Service Dinner held at the Mfantseman Secretariat, he noted that over 70 million people are expected to fall back into extreme poverty and as such, Micro, small and medium sized enterprises constitute the backbone of the global economy, accounting for over two thirds of employment globally.
At the same time, the motivations of entrepreneurs and micro, small and medium sized enterprises can be leveraged to tackle the world’s problems, while helping to implement the Sustainable Development Goals, especially in underperforming sectors and in social recovery.”
Read the full speech below:
Mr. chairman, with your permission I stand on all existing protocols to read this speech in the absence of my Director, Hon. Dr Michael Kyeremateng, The National Secretary for the National Projects Advocacy Group of the Ministry of Information-Ghana and the President of the C4C Group Of Companies Global to present the theme:
Entrepreneurship The Key To Sustainable Development
Mr. Chairman, I recognize, the important contribution entrepreneurship makes to sustainable development by creating jobs, driving economic growth and innovation, improving social conditions and addressing social and environmental challenges as a result of this, there is a need for a comprehensive and holistic approach to entrepreneurship that includes long-term and cross-sectoral policies and strategies to achieving this in the growth and development of Central Region and Ghana as a whole.
Mr. chairman, we are in the state of a situation whereby Unemployment has become a problem in our economy and its sad to know that, 90% of our youth depends on employment by state and private institutions for survival rather than been self-employed, this in the short term helps but with a negative long term effect on our growth as a nation and as a Region.
The Government is seen recently making steps through the commission for technical Vocational Education Training-CTVET-to empower the youth by way of skills acquisition and development and through the YouStart Projects.
Mr. Chairman, as a young man growing up with an effort to be coming an entrepreneur after my last job with the 99 China Construction Ltd. as one of their Managers in Kwame Nkrumah Circle from my little salaries, I saved small and gradually got for myself an office at the Korle Bu lorry Station to set up an I.T company, employed designers and marketers where I send the marketers off to search for companies who want website development or to have their website to be maintained by us at an affordable cost.
I could not succeed after 2years and went for further studies and training which landed me in the business of micro-finance over the years after which I continued my studies to INDIA Institute of Homeopathy where I went to study Medical Homeopathy to become a Medical Doctor with a specialty in Chronic and Acute Diseases for my Doctorate and with my final education in the College of Practical Homeopathy where I obtained my PHD in specialization.
Mr. chairman, C4C Homeopathic Hospital started with Ghc2450 as my last money in my bank account in the year 2015 at the Aggrey Memorial Secondary School using their chaplaincy office as my first consulting room after a 3day campus crusade lead by my very self as an Evangelist of the Presbyterian Church of Ghana.
C4C which stands for campus for Christ and gave birth to the businesses I have today all to the Glory of God’s Wisdom.
Mr. Chairman, from the one room chaplaincy office, I was able to grow up my little capital and purchased the current 11bedroom one storey building where I work from now in the Cape Coast branch of the C4C Homeopathic Hospital, then gradually expanded a second branch to Takoradi and to Kumasi and to Accra with the opening of
more than 11 branches all over Ghana.
Mr. chairman, I dreamt to become an international entrepreneur and decided to enter the European Market to enjoy some of the euros which has complimented my profession and my calling as an entrepreneur in the European Market where I opened my first Europe Branch in Amsterdam, in the Netherlands and these condone in Hamburg, Germany with plans going to the Mylton Keynes in the UK and the COVID-19 set in which negatively impacted my work in Europe and Ghana, reducing my weekly sales revenue among others.
Entrepreneurship trends around the world and impact of COVID-19
Mr. Chairman.
The advancing COVID-19 pandemic has caused a steep global economic
pullback, without modern parallel.
According to the International Labour Organization (ILO), between 5 million and 25 million jobs will be lost and there will be a drop in labour income in the range of $860 billion to $3.4trillion.
Over 70 million people are expected to fall back into extreme poverty.
Micro, small and medium sized enterprises constitute the backbone of the global economy, accounting for over two thirds of employment globally, 2 and 80 to 90 percent of employment in low-income countries like Ghana and my own Central Region.
Owing to the extreme losses that are affecting every national delivery sector of industry, there are many people without jobs who are looking and will continue to look for entrepreneurship opportunities.
At the same time, the motivations of entrepreneurs and micro, small and medium sized enterprises can be leveraged to tackle the world’s problems, while helping to implement the Sustainable Development Goals, especially in underperforming sectors and in social recovery.
The role of entrepreneurship and micro, small and medium sized enterprises in social and economic development has become
more critical than ever and will be among the priority policy measures of Member States during post COVID-19 recovery and beyond.
Entrepreneurship has globally remained a formidable form of employment and livelihood.
In the period 2018–2019, just under 15percent of the adult population, 3 on average, was in the early stages of undertaking an entrepreneurial activity (ranging from 3 percent in Italy to 37 percent in Chile).
Since 2015, the share of entrepreneurs grew in 36 out of 52 surveyed countries. In 2019, exiting entrepreneurship was less than half as
Common as entry into entrepreneurship.
However, theCOVID-19 pandemic has slowed down entry into entrepreneurship, with business applications down by 40 percent in some countries.
