The Liberia Business Associates has introduced an acceleration program to enhance the growth of business in the country.
In a power point presentation at the two – day Business Climate Forum in Ganta on February 1, LIBA through its head, Mr. James Strotter, outlined core areas gear toward the growth of small and medium-sized businesses in the country.
The core areas include robust business training, business development, management services and professional support services such as capital raising support.
Other core areas are, proposed seed investment for qualified businesses and the development of LIBA business incubation centers across in all 15 counties of Liberia.
“Each year, we intend to admit a cohort of 300 small businesses and 150 medium sized businesses, with an equitable distribution across all counties,” he said.
Mr. Strotter deliberated that within the period of five years, about 1,500 small businesses and 750 medium size businesses will be admitted, something which could boost the economy.
He named the target business sectors as manufacturing, oil&gas, agribusiness, technology, renewable energy and waste management, among others.
According to the him, the core program has three pillars, including 1. Business growth support, 2. LIBA business incubation centers and 3. LIBA accelerator program.
The Business Climate Forum was held under the auspices of the Ministry of Finance and Development Planning, under the theme: “Resolving Challenges to Getting Credit, Resolving Insolvency and Enforcing Contracts.
The three branches of government, several business organizations/ entities as well as experts and partners from the World Bank attended the forum.
Some Liberia business tycoons, like Mr. Tomah Seh Floyd, Chief Executive Officer of Jungle Water Group of Companies and the Liberia Bankers Association, among others, were invited to share their experiences in the prospect of their business.