Small and Medium Enterprises (SMEs) Positive About Business Growth in 2026

Several Small and Medium Enterprises (SMEs) in the Sekondi-Takoradi Metropolis are feeling positive about the economic outlook and the potential for business growth in 2026.

Desmond Tyro, the CEO, noted that the Ghanaian Cedi’s stability against major international currencies over the past year, along with the removal of certain taxes like the COVID-19 recovery levy, should lead to a more favorable business climate.

Mayor’s Tap specializes in computers, mobile phones, and accessories. According to Mr. Tyro, the government did a good job last year maintaining cedi stability and scrapping certain taxes like the COVID-19 recovery levy. He believes these steps will create a favorable environment for their business to grow in 2026.

According to him, the government must build on the economic growth recorded in 2025 to help ensure a continued, positive trend this year.

Mr Tyro also commended the government for the reduction in the prices of petroleum products, saying, “One of the government’s new year gifts to us was reducing fuel prices, which I think is one of the major economic indicators that we are on the right path.”

He, however, expressed worry over the increase in utility tariffs, noting that such hikes could have adverse effects on businesses.

The Public Utilities Regulatory Commission (PURC) announced an upward adjustment of electricity tariffs by 9.86 per cent and water tariffs by 15.92 per cent, effective January 1, 2026.

The CEO of The Mayor’s Tap stated that this increase would significantly affect small businesses and households.

Mr. Tyro urged the government to take strong action to make utility tariffs more affordable, helping to support the growth and sustainability of SMEs.

Source: Accra Business News