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Business News of Friday, 24 September 2021

Source: GNA

Scale up your business with modern technology - Start-ups urged

Participants at the national acceleration programme run by Ghana Tech Lab Participants at the national acceleration programme run by Ghana Tech Lab

Mr Courage Asase, Managing Director, Ho Node Hub, a digital tech lab, has advised start-ups to make use of modern technology to scale up their business.

He said the world was gradually gravitating towards digitisation, and everything including businesses were moving in that direction, therefore, it was important to digitise one's business to keep it afloat.

Mr Asase gave the advice during a panel discussion for the national acceleration programme, a six months acceleration programme run by the Hub in partnership with Ghana Tech Lab.

The discussion focused on possible ways of starting business, and aimed to equip start-ups with business ideas to enable them operate a successful business.

It is evident that it is tech backed businesses that are scaling up, he said, and asked young entrepreneurs to equip themselves with modern technology to expand their businesses, and to attract customers and funding.

The Managing Director charged the youth to take advantage of available resources around them in any business environment they found themselves in to start their own business.

He said job opportunities were limited in recent times, therefore, it was imperative for people, especially the youth to venture into entrepreneurship and make good use of resources available to them to enhance their lots.

Mr Asase said though the country was doing well in creating a conducive business environment for businesses to thrive, a lot more had to be done to support start-ups, saying a good ecosystem was vital to empowering start-ups to flourish.

Mr Desmond Kitsi, Chief Executive Officer (CEO) of Genius IT Foundation, said it was important for entrepreneurs to have scalable ideas so they could establish scalable businesses that would yield maximum benefit.

He said if one's business idea was not scalable, whatever efforts he or she made or techniques deployed it would be difficult to scale up the business.

“For us to be able to build scalable businesses, then we need to first of all find ideas that are scalable, because if the idea itself is not scalable, no matter what you do, it would not scale,” he said.

Mr Kitsi charged start-ups to be “customer incentive” and studied the market very well to guide them to know where exactly to focus their businesses to make profit and avoid incurring costs.

Mr Selali one of the panellists urged young entrepreneurs to develop innovative ways and strategic plans to market their business to the rest of the world.

Two start-ups, Mac Studio and Ke Krafts, who are into graphic design and arts and crafts respectively, pitched their business ideas during the programme.

The winner, yet to be declared, would get the opportunity to represent the region at the Ghana Start-ups Summit, a national pitch contest slated for October 1, 2021.

The two start-ups are part of the Hub's accelerator program and were offered expert advice on how to run a successful business including how to develop business models and strategic plans.