About 1,000 young entrepreneurs are set to receive soft loans this month under the National Entrepreneurship Innovation Plan.
Potential beneficiaries will receive between ¢10,000 and ¢100,000 each depending on project scope at 10 per cent interest rate.
The initial $10 million package earmarked for the project which will include 1,000 females has been increased to $100 million.
Minister for Business Development, Dr Mohammed Awal, speaking at a breakfast meeting with CEOs of the Ghana Employers Association in Kumasi said government will soon announce a similar package for what it describes as established but struggling businesses.
He believes the measure will cushion industry to realize government’s Ghana Beyond Aid agenda.
Dr Awal charged the business owners to put succession plans in place to ensure their businesses survive through generations.
“All the businesses we knew when we were young, where are they? When the owners die, they are gone. Can we find a mechanism to make sure that businesses survive after we’re no more”, he queried.