Director of the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, says businesses will have to mitigate the negative effects of the IMF Programme while leveraging on its growth and stability.
He said businesses will have to consider expanding their revenue streams to reduce reliance on only one source of income.
Prof. Quartey made these remarks at the Second Edition of the ‘Chamber National Dialogue Series’, organized by the Ghana National Chamber of Commerce. He said businesses should focus more on increasing efficiency to maximize their profits by streamlining their operations, improving inventory management and adopting new technologies to automate tasks.
Prof. Quartey called on the government to ensure efficient means of revenue mobilisation rather than continuously rolling out new taxes which affect existing businesses.
He also urged the government to expand the tax net to rope in all Small and Medium scale Enterprises, SMEs and implement a friendly tax policy to enable compliance.