By Daniel Agbesi Latsu
Kadjebi (O/R), July 16, GNA – Ms Maria Goretti Anyigba, Head of the Business Resource Centre (BRC) in the Kadjebi District, has advised aspiring entrepreneurs and small business owners not to spend their business capital on personal consumption, warning that such a practice could lead to the collapse of their businesses.
She said many small businesses failed because their owners used start-up capital to finance lavish lifestyles instead of reinvesting profits to expand their enterprises.
Ms Anyigba gave the advice during a business management orientation organised for Differently Abled Persons in Kadjebi in the Oti Region.
She explained that entrepreneurs should separate their personal finances from business funds and maintain financial discipline to ensure the growth and sustainability of their enterprises.
“Your business capital is meant for business. Do not spend it on personal luxuries or unnecessary expenses. Allow the business to grow before you begin to enjoy the profits,” she advised.
Ms Anyigba said prudent financial management, coupled with dedication and hard work, would enable businesses to withstand competition and create sustainable livelihoods.
She took the participants through topics including business planning, marketing strategies, customer relations, record-keeping, pricing, savings, and the importance of reinvesting profits.
The BRC Head also encouraged the participants to keep accurate financial records to help them monitor business performance, make informed decisions, and access financial support from lending institutions.
She urged them to provide quality goods and services, build trust with customers, and remain honest in all their business dealings.
Mr Emmanuel Addo-Quarshie, Kadjebi District Chairman of the Ghana Federation of Persons with Disabilities, commended the Business Resource Centre for organising the orientation.
He encouraged participants to apply the knowledge acquired to establish and manage viable businesses that would improve their livelihoods and reduce their dependence on others.
Mr Addo-Quarshie urged the participants to remain determined and self-confident, saying disability should not be a barrier to economic independence and personal development.
Some of the participants expressed appreciation to the organisers for the training, describing it as timely and beneficial. They pledged to apply the knowledge and skills acquired to improve the management and growth of their businesses.
The orientation formed part of efforts to strengthen the entrepreneurial and financial management capacities of Differently Abled Persons, formerly called Persons with Disabilities in the district and promote inclusive economic development.
GNA
Edited by Maxwell Awumah/George-Ramsey Benamba