It advised the government to disburse funds based on the existing database of SMEs to prevent newly set-up SMEs with no track record from accessing the funds at the expense of existing ones with track records.

The institute made the recommendation in the mid-year budget review, which assessed the mid-year budget presented by the finance minister, Dr. Mohammed Amin Adam, to parliament.

The institute's recommendations come against the backdrop of the government's recent attempts to help SMEs. The government's assistance for SMEs is carried out through initiatives such as the SME Growth and Opportunity Programme, the Ghana Enterprise Agency's Youstart Programme, and the Ghana Skills Development Fund.

These initiatives offered varying business services and funding to SMEs to improve their operations and profitability. ISSER advised the government to disburse funds through financial institutions, including development banks, to ensure they were used for the intended purpose, guaranteeing repayment

It urged the government to disburse funding through financial institutions, especially development banks, to assure their intended use, payback, and sustainability.

ISSER stressed that funds to support SMEs should target those involved mainly in higher value addition in agriculture, light manufacturing, hospitality, tourism, and digitalisation.

According to ISSER, these measures ensure that funds are not utilised by merchants and wholesalers to import.

The institute advised the government to continue utilising digital technology and other initiatives to create a business- friendly environment that attracts domestic and foreign investors.
It also stated that using digital technology would generate capital for crucial labour-intensive and high-growth industries such as agro-processing, light manufacturing, tourism, hospitality, and ICT.