UG-Nkabom advocates youth-friendly business regulations

By Rebecca Okine

Lead Consultant on Regulatory Advocacy for the UG-Nkabom Collaborative, Prof Justice Nyigmah Bawole, has emphasised the importance of creating regulatory systems that are more responsive to the needs of student entrepreneurs while maintaining consumer safety.

Speaking at the Southern Belt Stakeholder Dialogue in Accra, Prof Bawole said the Collaborative is designed to bridge the gap between regulators and young start-ups by fostering mutual understanding and direct engagement.

Prof Bawole explained that although regulatory agencies are bound by law to enforce standards, they are increasingly acknowledging the need to support emerging businesses.

“I was pleasantly surprised because the regulatory agencies themselves recognise that there is a need to work at supporting start-up businesses. Except that there are regulations, so there are laws that back the activities they engage in, and they must do their work,” he noted.

Prof Bawole stressed that regulators are not necessarily obstacles but key partners in ensuring food safety and sustainability.

According to him, the dialogue created an opportunity for regulators to hear directly from young entrepreneurs about their challenges, while also allowing start-ups to better appreciate the roles of regulatory bodies.

“What they tell us are things we believe can be resolved. The reason we are here is to bring them into a room, let them understand what young start-ups are complaining about, and see how we can deal with these issues,” Prof Bawole disclosed.

The dialogue, which follows an earlier session in Techiman for the northern sector, is part of a broader effort by the UG Nutrition and Sustainable Agri-food Collaborative (NKABOM) to expand access to education and career opportunities in sustainable food systems.

NKABOM is a ten-year project led by the University of Ghana in partnership with McGill University and the Mastercard Foundation. It operates under three pillars: Education, Access and Success, and Entrepreneurship.

The dialogue was held under the theme “Policy in Practice: UG-Nkabom Southern Belt Stakeholder Dialogue on Agrifood Regulation and Youth Entrepreneurship”.

Speaking to the media after the event, Prof Bawole explained that this component focuses on equipping students and beneficiaries with skills to build resilient businesses.

“We are already enrolling student businesses and taking them through a series of mentorship processes to make sure we can get them out of the danger zone. Once they are out of the danger zone, it becomes easier to let them go and be confident they will survive,” he stressed.

The mentorship covers critical areas such as business registration, financial documentation, accessing financing, and dealing with regulatory agencies. Students are also trained in proper record-keeping and accountability practices.

Prof Bawole pointed out that one of the most common mistakes among start-ups is mismanaging business capital.

“You cannot eat your capital as part of your group. You must separate yourself from your business. You can pay yourself a salary, but it must be reasonable to ensure the business can keep going,” he advised.

Prof Bawole emphasised that investments secured by start-ups must be reinvested into their businesses rather than diverted for personal use.

Addressing these issues, he said, is vital to reducing the high failure rate among young enterprises in Ghana.

Looking ahead, Prof Bawole revealed that the project intends to bring regulatory agencies even closer to start-ups, including on university campuses, so that students can access guidance and support more easily.

He urged government to prioritise budgetary allocations that enable regulators to engage in public education and outreach.

“Hopefully this advocacy will bring to the attention of government that regulatory agencies have a mandate to educate the public and start-ups on how to relate to them. That will help soften the ground for young people who want to enter into entrepreneurship,” Prof Bawole indicated.