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Business News of Monday, 27 September 2021

Source: GNA

Market women urged to ensure effective management of their business

Dr. Cletus Agyenim-Boateng Dr. Cletus Agyenim-Boateng

Market women have been advised to keep proper records and accounts of their business operations.

They should also manage their finances well by saving, investing, and cutting down on unnecessary expenses for the sustenance of their trade and livelihood.

Dr. Cletus Agyenim-Boateng, a Senior Lecturer at the University of Ghana Business School, said traders ought to embrace financial literacy in all its aspects as they sought to improve their living conditions.

Speaking at a stress and financial management workshop, organized for market women within the Kwadaso Constituency of the Ashanti Region, he said understanding how business works was critical for the survival of the market women in their respective trades.

The workshop was organized by Dr. Kingsley Nyarko, Member of Parliament (MP) for Kwadaso, with the aim of exposing the market women to the basic tools, tips, education and strategies needed to cope with stress.

It was intended to help them build confidence and general self-esteem in their lives to boost the nation’s drive towards women's empowerment.

The workshop also created a platform for the participants to acquire administrative and managerial skills that would help them operate their businesses effectively while increasing their incomes.

Dr. Agyenim-Boateng, who is also a Chartered Certified Accountant, said the emergence of the COVID-19 had come with its own challenges to the business community, citing the collapse of many small-scale enterprises.

It was, therefore, imperative that the women traders adopted new strategies in line of their activities to keep them in business.

Mr. Kofi Oduro-Boateng, a Business Advisor and an Educator, appealed to the women to desist from unnecessary expenditures and save money to expand their businesses.

This would enable them to contribute meaningfully to building a resilient economy, he stated.

Dr. Nyarko assured the women that, together with the Municipal Chief Executive (MCE), Mr. Richmond Agyenim Boateng, they would provide the enabling economic environment for them to progress and prosper in their businesses.

He pledged his continuous support for the people of Kwadaso and called on them to support him and the MCE to help make Kwadaso one of the best constituencies in Ghana.