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Saturday, January 22, 2022

It’s not only about the money, be disciplined

Chief Executive Officer, Ghana Enterprises Agency (GEA) Kosi Yankey Ayeh

Access to funding is not the major challenge for businesses, Kosi Yankey

Entrepreneurs need a mindset shift to thrive, GEA Boss

Government to implement YouStart program to boost entrepreneurship

Chief Executive of the Ghana Enterprise Agency Kosi Yankey Ayeh has said access to funds is not the only challenge facing Ghanaian businesses.

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She explained that even though it cannot be downplayed, entrepreneurs need to be disciplined and have a mindset shift to be able to thrive in their businesses.

According to her, the availability of market to sell plays a major role in the growth of the business. She was speaking on PM Express Business Edition on the JoyNews channel.

“There is the need for access to market, because if you have access to market, and you are able to sell your products then you have funding to be able to inject into your business so that you might not have to go back to a bank or a financial institution so there is the need for access to market channels and yes access to finance is good but quality access to finance, and the type of financing,” she noted.

Mrs. Ayeh mentioned technical assistance as key to equipping businesses with the requisite skill set. She however believes discipline on the side of entrepreneurs will help them keep proper records of the finances.

“And there’s also another one that comes form the entrepreneur’s side, which is discipline, you need a lot of discipline to be able to build the businesses. It is important that we have a huge mindset shift in terms of what you are doing and how you approach the work that you’re doing”.

The Finance Minister, Ken Ofori-Atta, during his presentation of the 2022 budget announced the introduction of the YouStart Initiative to create an entrepreneurial spirit among the youth.

The program will be implemented by government through the Ghana Enterprise Agency, the National Entrepreneurship and Innovation Programme and other financial institutions.

This according to the minister will create 1 million jobs for the youth in Ghana.

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