What is YES? YES stands for Youth Enterprise Support. It is a Government of Ghana programme initiated by President John Dramani Mahama with a ten million Ghana Cedis (GH¢10,000,000.00) seed fund to assist young Ghanaians who have creative and innovative business ideas and plans to achieve their full potential.
What is the purpose of YES? The YES Initiative is a multi-purpose policy strategy to (a) unearth hidden business talents, (b) grow new and existing small businesses, and (c) respond to the unemployment challenges posed to Ghanaian youth.
How different is YES from other business support programmes? Unlike other programmes, YES is targeted at supporting a specific cohort of young Ghanaians between the ages of 18-35 years only, who have a business or a business idea for which they require financial support and mentorship.
When can I contact YES for support? The YES Secretariat periodically makes announcements inviting qualified Ghanaians to submit business plans or proposals for consideration. Although calls for business proposals are widely advertised in the media, it is advisable to visit the YES website (www.yes.gov.gh) regularly to read more about YES activities and scheduled business proposal calls.
What types of business ideas are supported by YES? Although preference will be given to business ideas focusing on the agriculture value chain and agribusiness, YES supports any business proposals, plans or ideas that have the potential of expanding to provide employment opportunities. YES does not entertain proposals involving narcotics, firearms, tobacco, gambling, alcoholic products or any item considered illegal for business in Ghana.
Is YES assistance limited to start-ups only? The entrepreneurial support services offered by YES are open to both new business ideas and existing enterprises owned by persons who fall within the qualifying criteria.
Who can apply for business support from YES? A Ghanaian between the ages of 18 and 35 years of age, who has a viable business plan or a business enterprise for which he/she needs assistance.
What is the mode of application? Simply submit a Business Proposal to the YES Secretariat online, via email or through the post. As soon as the application is received, the applicant will be notified by the YES Secretariat and given information on subsequent procedures. Detailed information on the mode of application can be found at www.yes.gov.gh.
Why is a Business Plan part of the YES application process? The Business Plan is your first chance of making a positive impression on the minds of the YES Secretariat as well as the panel of experts tasked to review proposals received. As such, it is your Business Plan that will provide the opportunity to analyse the viability of the business for which support is being sought.
Are financial estimates necessary in submitting an application? It is important to include, in your application, estimates of the financial assistance needed for implementation of your business plan. This will facilitate analysis of your business plan by the panel of experts.
Do I need a recommendation letter to support my Proposal? Recommendation letters from successful entrepreneurs supporting your business proposal can be included. However recommendation letters are not a substitute for excellent business plans, neither are they guarantees that your business proposal will be selected.
How much financial assistance can YES provide? Financial estimates accompanying selected proposals will guide how much financial support YES will provide in support of a business plan. However, no single business plan will receive more than Fifty Thousand Ghana Cedis (GH¢50,000.00). Where a business plan's financial estimates exceeds the upper limit of assistance offered by YES, applicants will be required to specify source of matching funds.
Can I submit multiple business proposals to YES at the same time? Yes, any qualified Ghanaian can submit any number of business proposals at any given call. However, YES will only attend to one proposal per applicant at each call, and no applications will be carried over to subsequent calls.
How are successful Business Plans selected? All applications received by the YES secretariat are reviewed by a panel of experts, which includes successful entrepreneurs and academics. Applications for YES assistance are reviewed and selection is made on the basis of viability, sustainability, employment generation and growth potential.
How do I know if my Business Proposal is selected? Applicants are notified by the YES Secretariat as soon as firm decisions on their applications are made. It is important to ensure that the YES secretariat has your most current contact details.
What other support does YES offer to young people with ideas? The YES Secretariat offers young entrepreneurs several forms of assistance including periodic training in business proposal writing, tips on efficient management of small scale business, mentorship arrangements and business counseling.
Does YES support joint venture business proposals? Absolutely! Joint venture business plans submitted to YES go through the same selection process as any other business plans. In fact, YES encourages young persons to combine their skills to form corporate entities relying on the assistance offered by YES.
Does it matter where my business is located? YES is designed to support Ghanaian youth in Ghana, therefore business entities seeking assistance from the programme must be located within the territorial space of Ghana.
How is assistance from YES disbursed? YES assistance may be given in the form of procurement or direct purchase or payment for business equipment indicated in the business plan. Once a business proposal or application is selected for support, the applicants are taken through various stages of mentoring and business management programmes, after which YES activates the appropriate form of disbursement required.
Will I be expected to pay back financial assistance received from YES? Any business that receives financial assistance from YES will be expected to repay the financial assistance at no interest.A loan agreement and a flexible repayment plan will be agreed with YES prior to disbursement of funds.
Will YES have any interest in my business after I receive the assistance? The business is yours! The only interest YES has in your business is its success in being able to expand and honour its tax obligations. YES will continue to work with you in various ways to ensure your business gains a firm root.
In what ways can I support the YES programme? You can support YES by encouraging your friends to visit our website and learn more about the various initiatives designed to support youth creativity and innovation, or simply visit our office to discuss any business ideas or plans they may have.
How do I obtain more information about the YES programme? Our website is regularly updated. Please visit www.yes.gov.gh