The stance on entrepreneurship has taken a new wave in Africa especially Ghana. To analysts, entrepreneurship is the gateway to solutions of unemployment, since it generates linkage beneficial to all stakeholders involved. Policies are place to ensure graduates have knowledge concerning entrepreneurship. The big question is: is entrepreneurship really the solution to unemployment and with the hullabaloo of industrialization in the 1960 been a failure, are Ghanaians likely to experience same with entrepreneurship. Aside the big question, here are four tips Ghanaian entrepreneurs should know before venturing into business:
Man management skills: Although entrepreneurship is about find solutions to societal problems, an entrepreneur must be well in depth with knowing the right people for a particular work, negotiating, recruiting and conflict resolution. People who work must have the same vision set like the entrepreneur.
Laws regulation and tax: An entrepreneur must be aware of his environment and study details that might affect his operations including government regulation and tax laws. The entrepreneur should know to use these laws to his advantage .
Financial ability: An entrepreneur should be astute with accountability and resource allocation . To be a successful entrepreneur in Ghana, one need to know how to use assets to generate assets and use the least effective cost to produce optimum quantity.
Market: Before venturing into a business as a result of finding solution. The entrepreneur should know his ready market and how his solution will serve as an impact. Feedback is necessary for the business growth so the entrepreneur should ensure there is communication flow at all times.
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