Julius Debrah: Lack of Proper Guidance Behind Most SME Failures

Chief of Staff Julius Debrah has emphasized the critical importance of guidance and advisory support in helping small and medium-sized enterprises (SMEs) succeed in Ghana.

Speaking on the persistent challenges facing SMEs, Mr. Debrah observed that many businesses either struggle or fold prematurely due to the absence of foundational knowledge and the right kind of support.

He discussed why financial institutions such as the African Development Bank and Exim Bank will be actively involved in the upcoming Kwahu Business Forum 2025, scheduled for Saturday, April 19.

“Generally, people say, ‘If you need support, go to the bank.’ But many don’t even realize that some banks also offer advisory services,” he said.

He underscored the value of these services in helping entrepreneurs make informed decisions, especially in the early stages—like conducting feasibility studies before launching a manufacturing business.

According to Mr. Debrah, the lack of such essential guidance often leaves SMEs unprepared for long-term growth and sustainability.

“Many believe they can just start and succeed. But without proper direction from the start, most SMEs fail,” he stated.

He expressed optimism about the role of institutions participating in the Kwahu Business Forum, highlighting their potential to provide practical education and support for the entrepreneurial community.

“These institutions are coming to share the many ways they can help the business sector,” Mr. Debrah noted.

He urged entrepreneurs to make the most of the event by actively engaging with the participating organizations, learning from their insights, and aligning their goals with the available resources and support systems.