BusyInternet in collaboration with Stanbic Bank has launched the Stanbic Business Incubator (SBIncubator) space in Accra to provide upcoming start-ups, entrepreneurs and Small and Medium-sized Enterprises (SMEs) with the needed support to thrive into a fully-fledged business.
A statement from BusyInternet to the media explained that the SBIncubator is a third generation business incubator and initiative by Stanbic Bank Ghana to contribute towards the promotion of entrepreneurship and SMEs in Ghana.
It said the SBIncubator would provide structured training, business advisory and coaching, access to market and funding opportunities to start-ups and SMEs.
The statement said the SBIncubator’s physical co-working space was completed and officially launched on Tuesday, August 27, 2019 in partnership with BusyInternet, Oracle and other strategic partners.
It said Ms Rosy Fynn, the Chief Executive Officer (CEO) of BusyInternet speaking at the event reiterated the importance of Incubators in the development of SMEs, in line with BusyInternet’s positioning as an avid supporter of small businesses and start-ups.
The SBIncubator, she said, would provide the needed advice, support and direction to aid upcoming start-ups and entrepreneurs.
The statement said she recounted her personal experience of relocating to Ghana ten years ago with an MBA, lots of zeal and passion to storm the Sport and Entertainment industry only to find herself joining the corporate world six months later.
Ms Fynn said the private sector and most notably start-ups and SMEs, contribute about 70 percent to Ghana’s Gross Domestic Product.
“Only 15 percent of start-ups however, end up surviving beyond five years due to lack of funding, support and opportunities to express their ideas,” she added.
Mr Alhassan Andani, the CEO of Stanbic Bank Ghana, according to the statement, expressed satisfaction over the prospects the SBIncubator had to offer to business players.
Hailing the entire project as a corporate social responsibility initiative, he said, the SBIncubator would be a hub for innovation to achieve excellence, the statement said.
The partnership, he said, was a step in the right direction to support young entrepreneurs with skills for sustainability.