Article By: Rosemary Balami (National Operator, YRE Ghana)
The concept of sustainable entrepreneurship has gained traction among businesses and entrepreneurs alike. This approach to business emphasizes the importance of creating innovative solutions that not only drive profitability but also prioritize environmental and social sustainability.
Sustainable entrepreneurship is a term where businesses take responsibility for their environmental impact and actively seek to make a positive difference in society. This includes using resources efficiently, minimizing waste and pollution, and ensuring that the well-being of people and the planet are considered in every business decision.
On the SDG Hub on Tuesday, two social entrepreneurs, Theophilus Delali Dormenyo from Ento Farms and Emmanuel Debrah & Partner Andy Aggrey Darko from Munchies Medley spoke about their various innovations making strides towards sustainability. Delali highlighted that the most important step that government and stakeholders must take to facilitate more startups to align with the SDGs is in the area of Policy and funding.
“There is a lot of bureaucracy in the system with setting up a business in terms of registration etc. and although there are certain tax cuts and tax exemptions, I do believe startups especially in the green space need more than that. Green businesses need a support system and I think policy has not done enough to address that”
said Delali Theophilus Dormeyo. Continuing the issue of funding, Delali stressed on the need for startups to put up a good application and have a deeper understanding and knowledge about what they are working on as that has been some of the deal breakers for Ento farms to get funding opportunities.
Furthermore, Andy revealed that although they are focused on tackling food waste, their business is not fully sustainable as their products are still packaged in plastics in which they hope to partner recycling companies to recycle their used bottles. He also lamented about the bottlenecks in the system when it comes to setting up a business such as high cost of registration etc. that thwarts the growth and progress of startups as most startups have inadequate funding to begin with.
Emmanuel Debrah stressed the need for Government and other stakeholders to
“Make space for creatives to explore. Food packaging on the market is monotonous and so if the youth are given the opportunity to explore by creating sustainable alternatives, sustainable entrepreneurship will be made an attractive venture for all”
Whereas, the co-founder of Ento farms, Theophilus Delali Dormenyo entreated the Government and various stakeholders to prioritize policy and funding opportunities as a tool to boost sustainable enterprises in Ghana's quest to build a green economy. Moreover, he encouraged the public and individuals who have interest in sustainable entrepreneurship to take that bold step to venture into it, put in the work and be consistent.