Financial experts advise SMEs, startups to seek sustainable and flexible financing solutions

At a virtual conference organized by Heritors Labs and RISA Fund, speakers advised small and medium-sized enterprises (SMEs) in Science, Technology, Innovation, and Research (STIR) sectors to explore alternative funding sources such as venture capital, angel investors, and crowdfunding, rather than relying on bank loans. Women innovators, in particular, face barriers to accessing funds.

Calbank’s Daniel Appiah and Impact Investing Ghana’s Justina Mensah highlighted the importance of preparing SMEs for funding through technical support and partnerships, while financial consultant Eunice Asantewaa encouraged the use of digital tools for bookkeeping.