Gov’t encourages entrepreneurship among youngsters with “YouStart”

The particular Finance Minister Ken Ofori Atta has indicated that will in March 2022, the federal government of Ghana will begin a brand new initiative to encourage entrepreneurship among the youth of the nation. The project dubbed YouStart will support youth-led corporations. Ken ofori Atta pointed out that the policies under the brand new initiative include: i. Area Level Loans under ten 000 GHC after 2-3 months of training. ii. Soft loans of up to GH¢50, 000 to help start-ups (in particular by young graduates and school leavers) plus small businesses to expand; 3. Starter packs (Soft financial loans tied to equipment acquisition) as high as GH¢50, 000 for individuals plus GH¢100, 000 for associations/groups; iv. A standardised mortgage package of between GH¢100, 000 to GH¢400, 500 at concessional rates just for SMEs through financial institutions. The particular Minister indicated that ” the YouStart initiative aspires to support our youth to build up commercially viable businesses. For this end, YouStart is designed to infuse proper commercial orientation within the beneficiaries”. Adding that “This will include financial institutions determining the particular credit metrics and GEA and NEIP providing coaching support especially for the standard SME loans”. Source: MyNewsGh. com/ 2021
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