‘’Ghana is one of the easiest places in the world to start a business but growing a business is extremely tough in the country’’ says Serial Entrepreneur and Trainer, Akwasi Boateng.
Akwasi Boateng while speaking on Guide Review on DGN, outlined the factors that contribute to the collapse of businesses in the country in relation to entrepreneurship.
He stressed the lack of support from home and the government.
He also bemoaned the lack of a proper environment to aid in promoting or sustaining entrepreneurship among the youth in the country.
Most of the youth now opt for white colour jobs because the motivation and the support policy to keep the business on its toes are not available.
According to him, entrepreneurial businesses are buzzing in the country but not growing as much as expected. Mr. Boateng backing his submissions emphasized the inadequacy of funds or investments to support existing small-scale businesses.
Interacting with the host of Guide Review, Sharon Brown-Acquah, he highlighted a few qualities to look out for when setting up a business and how to grow it. He stressed the need to know oneself i.e. personality and emotions towards certain situations or people.
Most importantly, he stressed the market demography and location of one’s business. Mr. Boateng in his submissions explained that knowing the kind of target can determine whether or not the business will thrive or collapse, adding that the same applies to the location of the business.
Entrepreneurship has become unattractive for the youth in Ghana because of how unprogressive some tend to be. There seems to be not enough support coming from the government in terms of capital, investments or funds, and so on to push an initiative. As a result of this, the issue of unemployment keeps escalating thereby, dispersing the youth along the broad spectrum of social vices.
– By Annie Wharton Savage