The awards, slated for April 13, 2019, would be held on the theme: "Harnessing the Power of Creativity and Innovation in Small Business Development".

It would be held in Accra under 40 categories with the highest award being the Micro Business Excellence in Creativity and Innovation.

Mr Joshua Mensah, the Executive Director of the IESBD, who launched the awards, said aside projecting micro businesses, it would also encourage small businesses to grow.

He said the awards would promote Made-in-Ghana goods through micro businesses, a move that would help entrepreneurs exhibit their products, especially those in fashion designing, to create market opportunities for them.

Free business consultancy services for three months, exposure to investors, free insurance for a period of time, investments account with Databank and access to funds for businesses would be the benefits for winners, Mr Mensah said.

Mr Elvis Sackey, a Business Consultant, used the platform to educate small business owners on how to start, finance and maintain their businesses.

He said it was important to engage in strategic partnerships with other businesses in order to grow.

"The focus should not be on one aspect of the business, rather efforts should be made to diversify your businesses. Diversity is very important, it is key to business growth," Mr sackey said.

He urged them to build effective teams and create loyalty programmes for customers as a means to expanding their businesses.

Sponsors for the awards are Databank, Skills Hub, Young Investor's Network, Foundation for Financial Inclusion and Equick Hub.