A social worker is urging up-and-coming entrepreneurs to grow their businesses to ensure sustainability.
Victor Fosu-Boamah said, “doing so will ensure that their businesses are investment-worthy to attract the right financing”.
He said young entrepreneurs needed to seek technical support and advice from agencies to help them nurture their business to a sustainable level.
“There are some NGOs and government agencies that may be of help to you as you are starting, so grow your business gradually and then make sure that you are not overspending.
Victor Fosu-Boamah – Youth and Social Worker
“Then spend within your means to be able to get your business off the ground,” he said.
Mr Fosu-Boamah further added that getting financial support to expand new enterprises will require the entrepreneurs behind them to make their businesses investor-ready by having proper records and maintaining credibility, especially in the utilization of funding they receive.
“When you get your business off the ground, you are now looking forward to developing a strong and resilient business, so you want to look at financing and any other thing that will help your business to grow”.
He stated that financing has been a major issue that people, especially young entrepreneurs, have always complained about not getting enough funding. Still, they must put out their business in a position that will make it finance-ready.
Mr Fosu-Boamah, who is also an entrepreneurship coach, advised the youth not to adopt the ideology that said, “fake it till you make it.”
He explained that “going by that ideology is like going on a suicide mission because putting up that fake lifestyle makes it difficult to seek help when in need”.
He indicated that young entrepreneurs who live such lives cannot handle the embarrassment of asking for help when they are in need; hence, they choose to wallow in their suffering, thereby collapsing the young business.
He consequently encouraged the youth to live within their means and avoid putting up fake lifestyles so that they can easily ask for help that will ensure the sustainability of their enterprises.
Originally Appeared Here