Per the statistical service’s definition, the informal sector is made up of businesses – across all sectors – which are not registered with the Registrar-General’s Department (RGD) and do not keep formal accounts.
Even though the sector’s contribution is
just 28.6 percent of GDP, the same source says, in its 2016 Regional
Spatial Business Report that out of 638,000 commercial establishments in
the country, 395,977 of them are informal – representing 62 percent.
Though Many have argued that if government finds an innovative way of roping
the informal sector into the tax net revenue shortfalls will be partly
addressed, as more businesses and individuals will honour their tax
obligations. It is also true that if Government also finds more innovative way to cheapen capital, provide support, training and development then our economy would have been much larger and graduate unemployment would have reduced drastically.
Basket weaving project though falls under this economy, it has been traded internationally and has created over 20,000 in Northern part of Ghana. Over 300 women depend on ASIGE basket project that is traded globally for employment, food for the home, income for school fees, health and social well being hence improved standard of living. A critical look shows how women in the project earns up to 5 USD per work day which is far higher than Government formal minimum Wage. We believed that if this is developed , then poverty in Upper East would reduced and there will be enjoyable families couple with good standard of living.
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