It has been advised that aspiring company owners shatter the myths that prevent them from starting their own companies. Industry insiders assert that obstacles to their success include a lack of funding, a fear of taking chances, and the idea that entrepreneurs are made rather than born.
However, attendees of the Kumasi-hosted 2022 National Youth Mentorship Summit have been urged to prepare themselves to launch prosperous enterprises. The goal of the National Youth Mentorship Summit is to educate and mentor young people on how to take advantage of opportunities.
Participants received career counselling, coaching, and mentorship from the facilitators. Arnold Parkers, the chief executive officer of Letshego Ghana, warned attendees about some common misunderstandings about entrepreneurship.
The idea that Accra is where all the money in Ghana is located is a misconception. Outside of Accra, there is a lot of money to be made. We also need to dispel the idea that graduates cannot perform mundane tasks. Some blogs post articles about first-class grads selling bread, charcoal, and other things. People find it amusing. What is terrible if a graduate sells bread or charcoal? I think to myself when I read these blogs. He probed.
The demands of the labour market have significantly altered recently, but school teaching practises have not. Employers feel that graduates lack creativity, soft skills, and problem-solving abilities.
Sam Ankrah, an economist, finds this disturbing.
"Isn't it strange that a university like ours was founded with the intention of producing scientists, inventors, and creative people? However, our institutions have not improved or made technical advancements in our fundamental agriculture sector, he claimed.
Ghanaian producers compete with other foreign producers on international marketplaces. John Addo, the Managing Director of Prudential Bank, urges producers to maximise their export potential.
"It is challenging to get the indigenous products we make to be accepted on the global market. That is a result of our inability to live up to the appropriate level. Make careful you follow the correct procedures while starting a firm. Make sure your output is of a good calibre, he said.
Arnold Parker, meantime, has urged prospective businesspeople to look into the Ghanaian breakfast market for prospects.
"Our breakfast sector is one area where we have not updated. Our breakfast sector faces a difficulty since the folks that sell to us are not even educated. We don't even know what sort of water or chemicals are used in the products they offer.
"Do you really believe that someone with a chemical degree would put Sudan colour in palm oil? No, unless you're definitely a criminal," he said.
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