Enhancing Growth in New Enterprises

Despite a high volume of of entrepreneurial activity, Ghana has a low rate of success in transforming small enterprises into larger, more productive companies, which can help to promote economic growth and create jobs. In 2013 with support from DFID, TechnoServe launched the Enhancing Growth in New Enterprises (ENGINE) project to support 1,000 small and growing businesses in Ghana over four and a half years. The program seeks to increase the revenue of 500 high potential entrepreneurs by an average of 400 percent, create 1,770 new jobs, and provide 300 start-ups with adequate access to finance through business plan competitions and business development services. At the end of its second year the program has given awards to 268 entrepreneurs, who have reported a growth in net revenue of 140 percent and created over 250 new jobs and connected 28 enterprises with access to financial products.