{"id":117439,"date":"2015-05-19T11:42:54","date_gmt":"2015-05-19T11:42:54","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=117439"},"modified":"2015-05-19T12:30:40","modified_gmt":"2015-05-19T12:30:40","slug":"34-of-businesses-laid-off-workers-in-6-months-iea","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=117439","title":{"rendered":"34% of businesses laid-off workers in 6 months &#8211; IEA"},"content":{"rendered":"<p>Thirty four (34) percent of businesses in the country laid-off workers in the last six months due to the power crisis and other economic challenges.<\/p>\n<p>[contextly_sidebar id=&#8221;J5ZzuUjwktyGqbwce4lNo6SBtIDr3Z4V&#8221;]According to the IEA&#8217;s maiden Business Confidence Survey, most of the retrentchment were in the non-financial sector.<\/p>\n<p>The business confidence survey solicits the views of private enterprises on how they are faring.<\/p>\n<p>The survey was conducted in three regions of Ghana; the Greater Accra Region, the Western and Ashanti Regions.<\/p>\n<p>The survey revealed that the major obstacles in doing business in Ghana, 95% of the respondents cited the erratic power supply which was closely followed by the cedi depreciation, taxes and government charges.<\/p>\n<p>Business owners were however optimistic that the situation will improve within the next 6 months which they believe will yield more profits.<\/p>\n<p>Presenting the highlights of the report, a senior fellow at the IEA, Dr J.K Kwakye stated that the net loss of job losses was to be\u00a0expected due to the deterioration of the business environment.<\/p>\n<p>The IEA therefore made three recommendations which will help policy makers revive businesses as well as forestall any further job cuts.<\/p>\n<p>The first recommendation was the need to urgently relieve businesses of the many constraints\u00a0including the power crisis, cost of credit and infrastructure.<\/p>\n<p><a href=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2015\/05\/iea-3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-117458\" src=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2015\/05\/iea-3.jpg\" alt=\"iea (3)\" width=\"492\" height=\"330\" srcset=\"https:\/\/citifmonline.com\/wp-content\/uploads\/2015\/05\/iea-3.jpg 492w, https:\/\/citifmonline.com\/wp-content\/uploads\/2015\/05\/iea-3-300x201.jpg 300w\" sizes=\"auto, (max-width: 492px) 100vw, 492px\" \/><\/a><\/p>\n<p>This, according to Dr. Kwakye will help promote the private sector as the engine of growth in Ghana.<\/p>\n<p>The second recommendation was the urgent need to ensure a stable macroeconomic environment through public financial management to create a more conducive environment to aid business growth.<\/p>\n<p>Thirdly, the IEA recommended that serious interventions are needed to address the unemployment situation at the firm level.<\/p>\n<p>This they believe should be done through the provision of incentives for private firms to employ the youth to curtail the looming danger of more job losses.<\/p>\n<p>&nbsp;<\/p>\n<p>By: Raymond Acquah\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thirty four (34) percent of businesses in the country laid-off workers in the last six months due to the power crisis and other economic challenges. [contextly_sidebar id=&#8221;J5ZzuUjwktyGqbwce4lNo6SBtIDr3Z4V&#8221;]According to the IEA&#8217;s maiden Business Confidence Survey, most of the retrentchment were in the non-financial sector. The business confidence survey solicits the views of private enterprises on how [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":113940,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[43,38,21,4],"class_list":["post-117439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-foresight-medical-center","tag-palaver-newspaper","tag-psychiatric","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/117439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=117439"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/117439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/113940"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=117439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=117439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=117439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}