{"id":193411,"date":"2024-06-26T09:34:44","date_gmt":"2024-06-26T09:34:44","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/26\/sme-owners-must-change-their-mindset-to-compete-and-grow-dr-ayiku\/"},"modified":"2024-06-26T09:34:44","modified_gmt":"2024-06-26T09:34:44","slug":"sme-owners-must-change-their-mindset-to-compete-and-grow-dr-ayiku","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/26\/sme-owners-must-change-their-mindset-to-compete-and-grow-dr-ayiku\/","title":{"rendered":"SME owners must change their mindset to compete and grow \u2013 Dr Ayiku \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Dr Andrew Ayiku, the coordinator of the MBA on Entrepreneurship and Innovation at the University of Professional Studies-Accra (UPSA), has emphasised the need for a significant shift in mindset among SME owners if they are to compete effectively in today\u2019s market.<\/p>\n<p>According to him, many SME owners tend to limit their growth potential by clinging to the notion of running a \u2018small\u2019 business.<\/p>\n<p>Dr. Ayiku, speaking at the Absa \u2013 Citi Business Festival, SME Business Roundtable, on Channel One TV, highlighted the importance of support systems and a conducive regulatory framework that encourages entrepreneurs to \u2018think outside the box\u2019 and aspire beyond the confines of small-scale operations.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/WhatsApp-Image-2024-06-25-at-09.45.29_4577fc56.jpg\" alt=\"\" class=\"wp-image-1060121\"\/><\/figure>\n<p>https:\/\/googleads.g.doubleclick.net\/pagead\/ads?gdpr=0&#038;client=ca-pub-6034552436546687&#038;output=html&#038;h=280&#038;slotname=6518230833&#038;adk=1047488890&#038;adf=647254351&#038;pi=t.ma~as.6518230833&#038;w=750&#038;abgtt=6&#038;fwrn=4&#038;fwrnh=100&#038;lmt=1719364924&#038;rafmt=1&#038;format=750\u00d7280&#038;url=https%3A%2F%2Fcitinewsroom.com%2F2024%2F06%2Fciti-business-festival-sme-owners-must-change-their-mindset-to-compete-and-grow-dr-ayiku%2F&#038;fwr=0&#038;fwrattr=true&#038;rpe=1&#038;resp_fmts=3&#038;wgl=1&#038;uach=WyJXaW5kb3dzIiwiMTQuMC4wIiwieDg2IiwiIiwiMTI2LjAuNjQ3OC4xMTUiLG51bGwsMCxudWxsLCI2NCIsW1siTm90L0EpQnJhbmQiLCI4LjAuMC4wIl0sWyJDaHJvbWl1bSIsIjEyNi4wLjY0NzguMTE1Il0sWyJHb29nbGUgQ2hyb21lIiwiMTI2LjAuNjQ3OC4xMTUiXV0sMF0.&#038;dt=1719364587690&#038;bpp=2&#038;bdt=2170&#038;idt=208&#038;shv=r20240618&#038;mjsv=m202406200101&#038;ptt=9&#038;saldr=aa&#038;abxe=1&#038;cookie=ID%3D49b5cef19ee2c00e%3AT%3D1705915913%3ART%3D1719335803%3AS%3DALNI_MY0n6Ah_DFG1ogXBEoKa8SULnbkUA&#038;gpic=UID%3D00000cfd80947af2%3AT%3D1705915913%3ART%3D1719335803%3AS%3DALNI_MZIxMqYykDnU8Fjf09LilbViSibrA&#038;eo_id_str=ID%3D1ef9a87ee9235c45%3AT%3D1706690466%3ART%3D1719335803%3AS%3DAA-Afjbfg0OBDgrq8sFKKy9XLC4i&#038;prev_fmts=0x0%2C1200x280%2C1519x695&#038;nras=2&#038;correlator=1701515568303&#038;frm=20&#038;pv=1&#038;ga_vid=52543524.1705944683&#038;ga_sid=1719364588&#038;ga_hid=315539085&#038;ga_fc=1&#038;u_tz=-480&#038;u_his=1&#038;u_h=864&#038;u_w=1536&#038;u_ah=816&#038;u_aw=1536&#038;u_cd=24&#038;u_sd=1.25&#038;dmc=4&#038;adx=190&#038;ady=2535&#038;biw=1519&#038;bih=695&#038;scr_x=0&#038;scr_y=0&#038;eid=44759842%2C44795922%2C95329723%2C95330412%2C95334508%2C95334527%2C95334570%2C95334580%2C95334828%2C95335896%2C95335291%2C31078663%2C31078665%2C31078668%2C31078670&#038;oid=2&#038;psts=AOrYGskp-Oxupuz2GqA2PNzq7swdOEDtk1WVGCLYfRkWFD4NCn_e9djswfNuPW4qCBvw67W6B10RwUmgByZw7kxIXxgV3YE&#038;pvsid=3828996832193289&#038;tmod=1913800916&#038;uas=0&#038;nvt=1&#038;ref=https%3A%2F%2Fcitinewsroom.com%2Fcategory%2Fbusiness%2F&#038;fc=1920&#038;brdim=0%2C0%2C0%2C0%2C1536%2C0%2C0%2C0%2C1536%2C695&#038;vis=1&#038;rsz=%7C%7CoeEbr%7C&#038;abl=CS&#038;pfx=0&#038;fu=128&#038;bc=31&#038;bz=0&#038;td=1&#038;tdf=2&#038;psd=W251bGwsbnVsbCxudWxsLDNd&#038;nt=1&#038;ifi=3&#038;uci=a!3&#038;btvi=1&#038;fsb=1&#038;dtd=M<\/p>\n<p>\u201cIn my university and with the entrepreneurs we work with, we are trying to introduce courses like Running a Family Business and how to scale up. But just like my colleague said, it is the mindset.<\/p>\n<p>\u201cPeople\u2019s mindset is just to hold on to something small, so when you ask them, they tell you that they run something small; it is always how they pitch.<\/p>\n<p>\u201cSo, these things need to change, and when the support is there, the regulatory framework helps people think outside the box and not think that they only run something small. We cannot continue to grow,\u201d he stated.<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr Andrew Ayiku, the coordinator of the MBA on Entrepreneurship and Innovation at the University of Professional Studies-Accra (UPSA), has emphasised the need for a significant shift in mindset among SME owners if they are to compete effectively in today\u2019s market. According to him, many SME owners tend to limit their growth potential by clinging [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":193412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-193411","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SME owners must change their mindset to compete and grow \u2013 Dr Ayiku \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/26\/sme-owners-must-change-their-mindset-to-compete-and-grow-dr-ayiku\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SME owners must change their mindset to compete and grow \u2013 Dr Ayiku \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Dr Andrew Ayiku, the coordinator of the MBA on Entrepreneurship and Innovation at the University of Professional Studies-Accra (UPSA), has emphasised the need for a significant shift in mindset among SME owners if they are to compete effectively in today\u2019s market. 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