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Business News of Saturday, 24 October 2015

Source: GNA

Entrepreneurs should be risk takers - Dr Nduom

Dr Paa Kwesi Nduom, an Entrepreneur on Thursday urged entrepreneurs to take risks in their drive to succeed.

He said 10 per cent of businesses succeed while the remaining 90 per cent fail because the majority are afraid of risk.

He asked entrepreneurs to expect failure and rejection since it would help sharpen their focus.

Speaking at the Chartered Institute of Marketing’s (CIM’s) Continuous Professional Marketing Developing series (CPD’s) in Accra, Dr Nduom said it is important for entrepreneurs to learn the rules of working their way up to get a good grounding or foundation by doing the right thing as well as respecting their seniors.

The CIM is the world’s leading professional marketing body that exists to develop the marketing profession, maintain professional standards and improve the skills of marketing practitioners.

CIM’s monthly CPD’s is essentially designed to keep professionals, marketing practitioners and business students abreast of various developments in the business world in order to enhance their professional development.

Speaking on the theme: “Becoming a Successful Entrepreneur; Nduom’s Perspective,” he likened Ghana to other countries where entrepreneurs are solution finders for the society.

“In other countries entrepreneurs not politicians are the ones who have been able to form the bedrock of the country to help their societies grow by solving issues financially,” he said.

Dr Nduom therefore challenged Ghanaian entrepreneurs to be problem solvers for the country.

He said Ghana could not have successful entrepreneurs without an enabling environment especially in the public sector.

He said entrepreneurship as an important element necessary to push nations to a higher level of prosperity.

Entrepreneurs, Dr Nduom said must be credible and willing to rely on themselves by ruling laziness out since goals are achieved through hard work.

He argued that though there is no moral authority to tell the public to pay tax since the constitution states that the highest leader of the country is exempted from doing so.

“Leaders should train, nurture or groom their successors to attain a healthy wealth to be problem solvers of the country instead of seeking outside help all the time,” he said.

He said Ghanaians must know how people get their wealth so that the youth could understand the stage they hope to be or see and know the road to take to get to their destination.

He counselled entrepreneurs to start small, build up by a continuous investment in other to get something and in the end spend small of what was acquired.

The President of CIM, Mr George Eric Gyamfi-Osew, said there is the need to nurture and groom the next generation of entrepreneurs and this was what brought about the event.

“We are engaging key tertiary institutions to make attendance of our CPD events part of their curricular for marketing and business students” he announced.

He advised that marketers should strive to know some basic things about other professions to make them relevantly.

Regent University, Koforidua Polytechnic, Zenith College, Accra Polytechnic and Pentecost University attended the event.