Kumasi: The Kumasi Zonal Office of the Office of the Registrar of Companies (ORC) has embarked on a sensitisation campaign to encourage Small and Medium Enterprises (SMEs) to formalise their businesses through registration to improve access to loans, government support packages and business opportunities.
According to Ghana News Agency, the exercise, held in the Adum and Bantama business areas of Kumasi, is part of the ORC's public education drive on the theme: 'Building Awareness, Driving Change.' Mrs. Yvonne Adjimah Adjare, Head of the Kumasi Zonal Office of the ORC, highlighted that many traders and small business operators face challenges in accessing credit facilities due to a lack of proper business documentation.
Mrs. Adjare explained that registered businesses enjoy several benefits, including access to government support programmes, financial assistance from banks and microfinance institutions, legal recognition, and increased trust from suppliers and customers. During an engagement with traders and business owners, she emphasized the importance of business registration for enterprises seeking growth and sustainability in Ghana's competitive business environment.
Many small businesses are reportedly losing valuable opportunities by operating informally without legal backing. Mrs. Adjare noted that most financial institutions require proof of business registration before granting loans or business support packages. Formalising businesses protects business names from duplication and provides legal recognition for operations.
She encouraged market women, food vendors, mechanics, hairdressers, fashion designers, and other informal sector operators to take advantage of the simplified registration processes introduced by the ORC. The ORC Head mentioned that registration procedures have become faster and more accessible through digital platforms and zonal offices across the country. Entrepreneurs can register sole proprietorships, partnerships, and limited liability companies depending on the nature and size of their businesses.
Mrs. Adjare assured prospective applicants that ORC staff are available to assist them throughout the registration and documentation processes. She addressed concerns that some traders perceive business registration as expensive and complicated but noted that registration fees for small businesses remain affordable. The long-term benefits of formalisation far outweigh the initial registration costs, she stated.
She advised business owners to regularly file annual returns and update company records to avoid penalties and possible legal challenges. Compliance with business regulations, she added, would help improve transparency and accountability within the private sector. Reaffirming the ORC's commitment to continuous public education and outreach programmes, Mrs. Adjare highlighted the importance of business formalisation for national development.
Mrs. Adjare, who is also a Principal State Attorney, explained that the Office of the Registrar of Companies operates under the Companies Act, 2019 (Act 992) and is responsible for the registration and regulation of businesses and corporate entities in Ghana.