Recent influx of cheaper food and textile imports from China has created a lot of competition in the market.
Some production plants have closed down because of their inability to cut production costs to enable them stay in the markets.
Government has been supporting domestic private enterprises with financial incentives to make them more competitive.
However, manufacturers contend that the country’s tariff structure places local producers at a competitive disadvantage compared to imports from other countries.
In recent times, there have been several efforts by the government to enhance the capacity and competence of Ghanaian firms through the ff:
provision of micro credit
venture capital and export credit
business support and training.
Nature of Competition in Ghana