RECAP OF DIALOGUE WITH STATE & NON STATE ACTORS ON GREEN BUSINESSES WORKSHOP

Our Young Green Entrepreneurs participated in discussions with state and non-state actors in the green business sector, promoting collaboration and seeking out creative solutions for the advancement of their environmentally-friendly businesses.
Mrs. Kere highlighted that businesses can retain profits tax-free if they reinvest 100% back into their operations. Additionally, she emphasized that exporters of non-traditional goods benefit from a reduced 8% tax rate, significantly lower than the standard 25% corporate income tax.
Moreover, businesses operating within free-trade zones enjoy a notable advantage with a 10-year income tax exemption. During this period, these businesses are required to export 70% of their output, stimulating international trade.
Mrs. Kere also discussed incentives aimed at encouraging the employment of young and inexperienced workers. Businesses that meet certain employment criteria can benefit from additional tax deductions.
To access these incentives, Mrs. Kere stressed the importance of businesses being properly registered and obtaining a Ghana ID card. She also highlighted the need for businesses to determine whether they fall under corporate income tax or personal income tax, each with its own set of requirements and rates.
Dr. Prince Ansah of CDKN Ghana led an engaging dialogue on the importance of integrating Research and Development (R&D) into daily entrepreneurial practices. He emphasized how R&D can empower entrepreneurs to navigate market trends and meet customer demands effectively.
During the session, Dr. Ansah facilitated practical case studies, encouraging entrepreneurs to explore techniques, processes, challenges, and scalability strategies. These discussions aimed to equip them with practical insights to enhance their business strategies.