The study by the UK-Ghana Chamber of Commerce (UKGCC) has revealed that fuel remains the most expensive item facing businesses in the country.
The study also said cost of power, machinery and technology are beyond the budgets of businesses.
Fuel remains the most expensive item facing businesses in the country, a survey has revealed.
It said the situation exerts further pressure on the already constrained operations and funds of businesses.
The emergence of fuel as the costly item comes at a time when crude oil prices have skyrocketed following the ongoing Russia-Ukraine conflict..
The findings were contained in a research finding by the chamber’s Annual Ghana Business Environment and Competitive Survey 2022 released this week.
According to the survey, these assertions mirror opinions held in previous surveys, and suggest a shape for advocacy, which is to focus Government’s policy on direct business assistance interventions that would make the business and operating environment a lot more attractive to private sector investors.
Respondents suggest that the costs incurred to acquire skilled labour was among the most affordable their businesses incur – a consistent pattern over the years.
Local marketing costs, certifications and quality control costs, as well as locally sourced raw materials were also seen to be affordable in the Ghanaian business environment.
It appeared respondents classified these costs as being affordable in the previous survey as well.
Ghana’s available telecom facilities, cost and availability of potable water as well as availability of logistics partners were business components respondents believed were favourable to their businesses.
Respondents in the previous survey largely held the same view suggesting these to be some of the strengths of doing business in Ghana.
In similar fashion, respondents also see the availability of telecom facilities as the most improved business component over the past five years with the availability of advanced technology closely following – much like perceptions from the last survey.
Source: Graphic.com.gh