The Head of Agribusiness at Absa Bank Ghana, William Nettey is urging budding entrepreneurs to grow their business progressively to ensure sustainability.
Mr. Nettey said doing so will ensure that their businesses are investment-worthy to attract the right financing.
Speaking on the theme, ‘Financing Agric & Agribusiness, the key issues’ in an on-air episode of the Citi Business Festival, Mr. Nettey said, young entrepreneurs need to seek technical support and advice from agencies that can help them nurture their business to a sustainable level.
“There are some benefits that come along as you are starting up. You can talk to various NGOs and other agencies that may be of help to you, and then you start and grow your business gradually and then make sure that you are not overspending, but you are spending within your means to be able to get your business off the ground,” he said.
William Nettey further noted that getting financial support to expand new enterprises will require that the entrepreneurs behind them make their businesses investor-ready by having proper records, maintaining credibility, especially in the area of the utilization of funding they receive.
“When you get your business off the ground, you are now looking at developing a strong and resilient business, so you want to look at financing and any other thing that will help your business to grow. Financing has been a major issue and people have always complained that they are not getting enough funding, but they must put out their business in a position that will make it finance-ready,” he said.
Mr. Nettey had earlier asserted Absa Bank Ghana’s readiness to provide financial and technical assistance for enterprises, including start-ups, to help them thrive in order to boost the local economy.
“At Absa Bank, we have facilities available for agribusinesses or businesses that are not able to meet all documentation. So come for us to work with you for some time and monitor your progress. We also have our startup proposition that seeks to support start-ups, especially to help them to grow,” he said.
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