Ghana has all the positive environmental factors conducive for business. Failures to capitalize on the existing factors are the results of:
1. Lack of liquid cash flow in Ghana's banks and financial institutions which has b ... read full comment
Ghana has all the positive environmental factors conducive for business. Failures to capitalize on the existing factors are the results of:
1. Lack of liquid cash flow in Ghana's banks and financial institutions which has been brought on by fools in Ghana who steal from government coffers and hide their loot in foreign banks and financial institutions. There is therefore not enough cash circulating freely on the Ghanaian market scene making it expensive to borrow money from Bank of Ghana or banks in general.
2. Ghana's breed of businessmen and women are not polished and or prepared business people. Buying finished good from the Middle East and or China and selling them in Ghana is not business; any fool with money can do that.
3. The so-called business people do not invest profits in their business but into frivolous acquisitions just to feel important or to impress Ghana's easily impressed poor.
4. The business people mostly rely on the national government to make it big via a government contract where they get to provide government with inferior goods and or services and take the profits. But government as the source of money is and has always been temporary because politics is for the winning party.
5. Ghanaian businessmen and women do not know a darn thing about business expansion into other regions, cities or how to diversify.
6. Businessmen and women refuse to be good citizens. Paying their fair assessed taxes and levies puts a business firm on ground thus enabling the business to know all that is expenditures and profits. Skipping their responsibilities as citizens gives these thieves masquerading as businessmen or women the added incentives to mistreat their employees. After all they think if they can get away cheating the government then they have the license to cheat their employees who have no power.
6. They do not understand that quality products and customer service will always trump temporary profits gained by selling cheap and inferior products.
7. Most Ghana businesses are engaged in selling finished goods without seeking local suppliers who may be able to provide local products that may be comparatively good if not better.
8. Ghana's businessmen and women do not have the patience to make money over time but want all the profits here and now. For example, if a trader buys a dozen Zest brand soap bars and can easily make 25 pesewa profits per bar soap why would they want to sell each bar for a 50 pesewa profit when it takes twice as long to sell all the bar soaps? Traders will rather keep item sitting on shelves for months on end instead of selling them for minimal profit which may enable them to sell larger volumes in a shorter amount of time.
For those who think taxes are high in Ghana I say stop whining and grow up. The national government cannot give up everything for zero taxation while all you business people make money and hide your profits in other nations.
Ghana has all the positive environmental factors conducive for business. Failures to capitalize on the existing factors are the results of:
1. Lack of liquid cash flow in Ghana's banks and financial institutions which has b ...
read full comment