Abstract:

This research paper give emphasis to some of the innovations used in reviving small-scale industries in Ghana. It stresses on the point that if SMEs that has been labelled as the engine growth of the Ghanaian economy can adopt innovative ways in doing business, there would be great impact to Ghana. There is a general awareness and acceptance of the role SMEs play in socio-economic development in Ghana. The Small-Scale industries contributes greatly to Gross Domestic Product (GDP) in ensuring economic growth, employment, income stability and poverty reduction in most developing countries. In-spite of the above roles, most of these industries are now collapsing because of the lack of innovations in conducting their businesses. The few who has been able to adopt innovated ways of doing business are experiencing business boom while the majority of them are struggling to break-even thereby classifying the small-scale industries as synonymous to a ‘hand to mouth’ industry. This study intends to achieve the following objectives; first is to pinpoint some of the innovations used in reviving SMEs, to identify some challenges faced in the adoption of innovation in small-scale business delivery in Ghana and to determine and make effective recommendations that would help to reduce or mitigate those challenges. To achieve the objectives slated, review of secondary data from documented reports and the internet, publications, journals and articles were used. The primary data was an in-depth guided interview with key stakeholders (revenue collectors, policy makers, small-scale business owners, members of the SMEs etc.)

Keywords: Innovation, Small scale industries, SME, Ghana.

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