A striking paradox exists in Ghana: despite our people's abundant talent and wisdom, many capable individuals shy away from pursuing innovative ventures. The primary reason for this hesitation is a pervasive fear of financial inadequacy. This fear hinders the entrepreneurial spirit and stifles economic growth as potential business leaders...
I. IMPORTANCE OF DIGITAL TRANSFORMATION FOR SMES
In today's fast-paced and highly competitive business environment, digital transformation is no longer a luxury but a necessity, especially for SMEs. That is why if you’re reading this in the newspaper on Monday or my LinkedIn over the weekend, know that the place...
The break-even point (BEP) and break-even analysis are related financial concepts used to assess a business's financial health. The break-even point is the specific level of sales at which total revenues equal total costs, meaning there is no profit or loss. It is calculated by dividing fixed costs by...
I wouldn’t call this an opinion piece since it excludes my personal opinions. Also, the story is still unfolding. I am just writing about the events so far and presenting facts to help my audience create their unique perspective. Suppose this Legislative Instrument on cement pricing in Ghana comes...
I would mention GCB Bank PLC as my bank of choice and get raised eyebrows. “Ghana Commercial Bank? But Why?” I’d get asked. To me, the Indigenous boy who left and returned to the land as an Indigenous man with an Indigenous team working to impact the Indigenous trade...
Understanding the burn rate is crucial in the fast-paced world of startups, where every cedi matters. This metric measures how quickly a company spends its cash, serving as a financial fuel gauge for a young business.
Burn rate refers to the speed at which a company spends its cash reserves...
The main auditorium and upper quarters of the Great Hall of Kwame Nkrumah University of Science and Technology (KNUST) were flooded with tertiary education students from across Ghana as they gathered for the first edition of the ‘Entrepreneur in You’ campus tour organised by Maxwell Investments Groups (MIG).
‘Entrepreneur in...
Efficiency ratios are critical financial metrics that evaluate how effectively a company utilises its assets and manages its liabilities. These ratios provide insights into various aspects of a company’s operational performance, including asset management, inventory management, and accounts receivable and payable efficiency. By analysing efficiency ratios, investors and analysts...
In our competitive business world, maximising customer value and increasing revenue are constant goals. Cross-selling emerges as a powerful strategy in this context.
Cross-selling is the art of promoting additional products or services to existing customers that complement or are related to their initial purchase. Think of it as suggesting...
Client retention is a critical aspect of business success that involves maintaining long-term relationships with existing customers. Retaining existing clients is often more cost-effective than acquiring new ones, making client retention a priority for businesses across industries. Extensive efforts and strategies ensure customers remain satisfied, loyal, and engaged with...