ISpace Foundation, a technology hub located in Accra, held another session of their Unlocked Series on Thursday, July 27th, 2017. This training session was facilitated by Ekow Akyin Kwofie on the topic "How To Analyse Your Competitor". Ekow is a Business Development Consultant with the Inclusive Agribusiness Centre (IAC)/Inclusive Business Accelerator (IBA) Hub Ghana at MDF West Africa.
We talked about competitor analysis and it’s relevance for business growth. Participants were taken through a practical business exercise for the bigger part of the session, working on their Competitor Analysis worksheets. They assessed their competitors by inputting details of their businesses alongside their competitors (related to each business) with reference to business description, value proposition (functional and emotional benefits), strengths and weakness. At the end of the activity, participants presented their action plans generated after their analysis. Participants shared their experiences with working with the competitor analysis tool and insights from the session as very enlightening and practical and they had a clear sense of direction on the next steps to take.
Participants at the session were founders/managers of start-ups and SMEs in technology, agribusiness, fashion, home care products, online service among others. Also present were trainees of Unlocking Women and Technology (UWAT) - an initiative of iSpace
The Inclusive Agribusiness Centre (IAC) works with start-ups and SMEs in the agricultural value chain to establish a sustainable business model which leads to efficiency in internal operations and increase their access to markets and finance. For more information, log on to www.inclusiveagribusinesscentre.org.
You can also walk into IAC/MDF office for any business development support: No. 4, 1st Central Link, NTHC Estates, Adjiriganor, Adjacent Rawlings’s Residence - East Legon.