The Chief Executive Officer of Quick Angels Limited, Richard Nii Armah Quaye, says for any entrepreneur to succeed, one fundamental foundation is financial discipline.
He said this at the 3rd edition of the Ghana Investment Promotion Centre’s Entrepreneurs Forum.
Speaking at the forum under the theme ‘Grow, Accelerate, Lead’, Mr. Quaye said entrepreneurs only succeed when they do proper management of their finances.
‘’Most entrepreneurs are not succeeding not because of lack of funding but rather financial indiscipline. The misappropriation of funds by some entrepreneurs is a major reason they do not survive, he opined.
He added that an “entrepreneur can have all the brilliant ideas, the skills, the funds and expertise or expert advice, however if he or she is not disciplined financially he or she will end up nowhere.’’
Speaking on the GIPC partnership, Mr. Quaye noted that GIPC‘s role or focus on nurturing and mentoring entrepreneurs is a laudable initiative.
He added that this was in line with Quick Angels’ vision of supporting potential and existing entrepreneurs as well as businesses that want to expand with equity financing, mentoring and giving expert advice hence the need to support such a venture .
“The best funding for any start up should obviously not be debt finance”, he said.
He recommended Angel investing as the best funding model for any start up business.
Quick Angels Limited is the first and formally institutionalized angel investor company in Ghana that seeks to support potential and existing entrepreneurs as well as businesses with equity financing.