YouStart Ghana Initiative Support for Entrepreneurs

May be an image of text that says 'Government's YouSturt policy The YouStart initiative will support young entrepreneurs to gain access to capital, training, technical skills and mentoringto enable them to develop commercially viable businesses. In partnership with the Finance Institutions and Development Partners, YouStarti designed to instill proper commercial orientation in the beneficiaries @MoF_Ghana @moigovgh #YouStart @GhanaPresidency I @NAkufoAddo'

The Ministry of Finance is set to support businesses of Ghanaian youths through its YouBanC initiative to ensure that young people are given the requisite financial and technical assistance from an early stage to develop and grow.

This forms part of a tailored approach by the ministry to solve access to finance concerns which hinder young people from venturing into entrepreneurship, likewise creating jobs for them under the Ghana-CARES Obaatanpa Programme.

“Through this Initiative, Young Applicants between the ages of 18-35 will be granted financial and technical support to start or grow their Business Ideas,” said Finance Minister Ken Ofori-Atta.

The beneficiaries will be given ample time to pay back the money as their businesses grow.

The initiative will further give student-entrepreneurs who benefit from the programme a chance to serve their national service with their own company after graduating – a move that is meant to encourage students to start something while in school.

YouBanC will simultaneously promote growth in small and medium enterprises (SMEs) and support new ventures.

Other Related information about YouBanC Ghana Initiative Support for Entrepreneurs

How to Apply for YouStart Program Initiative Application

YouBanC Ghana Initiative Support for Young Entrepreneurs Launched

How to Access YouBanC Ghana Initiative Support

Application Process for YouBanC Ghana Initiative Support

How to Apply for YouBanC Ghana Initiative Support

It is clear that even though the government happens to be the largest employer in the country, it has exhausted vacancies in the public sector, making it difficult for the youth to be absorbed there.

The option left is the private sector but even the formalisedaspect of this sector is gradually choking so the more promising opening is self-employment but that needs some push.

This is why it is soothing to learn that the Ministry of Finance (MoF) has adopted an initiative known as the YoubanCto give financial and technical support to young entrepreneurs in country.

The initiative, to be launched after the reading of the 2022 budget, would be implemented in collaboration with the Ghana Enterprises Agency (GEA) and the National Entrepreneurship and Innovation Programme (NEIP) under the COVID-19 Alleviation and Revitalisation for Enterprise Support (CARES).

May be an image of text that says 'Government's YouSturt policy Through the Ghana Enterprises Agency (GEA), the National Entrepreneurship and Innovation Programme (NEIP), Government will implement YouStart. A vehicle that proposes using GHC 1 billion to create 1 million jobs in entrepreneurship for young Ghanaians @MoF_Ghana @MoF #YouStart @moigovgh @GhanaPresidency @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy Within the next three years, Government aims to build a Sustainable Entrepreneurial Nation. In the pursuit of this objective, we will address challenges our existing and aspiring entrepreneurs face, such as; access to credit and finance, regulatory and tax burden, lack of skills as well as mentorship. @MoF_Ghana @moigovgh #YouStart @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy YouStart plans to support youth-led enterprises with the following products: -Starter packs (Soft loans tied to equipment acquisition) of up to GH$50,000 forindividuals and GH$100,00 for assoations/g -Astandardised loan package of between GH$100,000 to GH$400,000 at concessional rates for SMEs through financial institutions; #YouStart @MoF_Ghana @moigovgh @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy YouStart plans to support youth-led enterprises with the following products: Disict Level Loans under 10 000 GHC after 2-3 months oftraining. Soft loans of up to GH$50,000 to help start-ups (particularly by young graduates and schoolleavers) and small businesses to expand. @MoF_Ghana #YouStart @moigovgh @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy Within the next three years, Government aims to build a Sustainable Entrepreneurial Nation. In the pursuit of this objective, we will address challenges our existing and aspiring entrepreneurs face, such as; access to credit and finance, regulatory and tax burden, lack of skills as well as mentorship. @MoF_Ghana @moigovgh #YouStart @GhanaPresidency I @NAkufoAddo'
May be an image of text that says 'Government's YouSturt policy Through the Ghana Enterprises Agency (GEA), the National Entrepreneurship and Innovation Programme (NEIP), Government will implement YouStart. A vehicle that proposes using GHC 1 billion to create 1 million jobs in entrepreneurship for young Ghanaians @MoF_Ghana @MoF #YouStart @moigovgh @GhanaPresidency @NAkufoAddo'