L’AINE Foundation, a non-governmental organisation that strives to empower youth and promote business development, has trained a number of Ghanaian entrepreneurs to promote and expose them to job prospects in the country. The course on the theme ‘Understanding the Core Strategic Choices Facing Startups in Ghana’ sought to promote sustainability among Ghanaian businesses. In his welcome presentation, Mr. James Laar, Managing Director of L’AINE HR, stated that beginning a business requires hard work, dedication, and a clear grasp of the strategic choices that must be made to succeed. He noted that these options were especially important for start-ups in Ghana because the landscape was difficult to traverse, and he encouraged guests to use the event to meet new people, discuss ideas, and develop a support network. He emphasised that the initiative was also designed to help Ghanaian entrepreneurs comprehend strategic options and provide them with the skills they needed to make informed business decisions. Ms. Anne Ethel Komlaga, Executive Director of Enterprise Bureau, a business incubator for developers, stated that SMEs accounted for 70 to 90 percent of African economies, contributed 70 percent of GDP, and provided around 80 percent of job opportunities. To grow their enterprises, she advised them to investigate local markets and client demands, use the appropriate technology, network, and build partnerships. Mr. Reginald Sakitey, Internal Auditor of L’AINE HR, encouraged staff to create a budget with predicted inflows and outflows and keep to it to avoid running out of money. He also advised them to be compliant, avoid penalties, and prevent closure of their businesses.
Source: Ghana News Agency