Senior Manager at MTN Business, Benedict Bentil, has called on small and medium-sized enterprises (SMEs) to adopt continuous business planning as a core strategy for sustainable growth.

Speaking during Week 3 of the Citi Business Festival 2025 On-Air Series on the topic: “Planning for SMEs”, Mr. Bentil highlighted a common pitfall among SME owners: limiting planning to the initial stages of the business. He stressed that planning should be a continuous, annual activity that evolves with the business.

“Business planning is the process of analyzing all your business requirements—how your business is performing, the associated costs, and how it can become profitable,” Bentil explained. “People often confuse it with having a business plan. But having a business plan doesn’t mean you’ve completed the planning process. A business plan is just one component of an ongoing business planning cycle.”

He emphasized that consistent planning is essential for any business that aims to create value and remain profitable.

On the definition of SMEs, Mr. Bentil referred to the Ghana Enterprises Agency’s classification. According to him, micro enterprises are those with 0 to 5 employees; small enterprises have between 6 and 30 employees; and medium enterprises range from 31 to 100 employees. In terms of annual revenue, micro enterprises earn up to GHS 150,000, small enterprises earn between GHS 150,000 and GHS 6 million, while medium enterprises generate more than GHS 6 million.

The Citi Business Festival 2025 is powered by Citi FM and Channel One TV, with support from Absa Bank Ghana, MTN Ghana, and Zonda Tec Ghana Ltd