Business News of 2014-07-03

Women in business train in financial management

Women in the informal sector have been advised to handle their finances responsibly to help them achieve the full potential of their investment.

The Member of Parliament (MP) for Anyaa/Sowutuom Constituency, Ms Shirley Ayorkor Botchway, who gave the advice, said businesses thrived on discipline but discipline continued to be the major challenge confronting many small business operators in the country. Ms Ayorkor Botchway made those remarks at a workshop on financial management and customer care held in Accra for traders at Tabora-Alhaji.

The programme, which was attended mostly by women, was aimed at empowering the participants to have control over their finances. It was also to help traders appreciate the role customers played in the growth of businesses and the need to establish a relationship with them.

Organised by the Assembly Member of Nii Okaiman West Electoral Area with support from Liberated Minds International and Silban Capital, the programme educated the participants on micro-financing, basic accounting principles and customer care.

In attendance were hairdressers, seamstresses, tailors, shop owners and chop bar operators. Speaking at the function, Mr Peter Addai-Baffour, a Customer Service Manager of Inspired Centre, said customers were very important to the survival of any business and as such needed to be handled with care.

“You may have the best of everything in your business but if you fail to establish a good relationship with your customers, you will not achieve anything,” he added, and advised business operators to treat their customers with respect and focus on maintaining them.

The Principal Consultant of Owusu & Okyere Consult, a business consultancy firm, Mr Godfred Okyere, advised the participants to keep records of all their business transactions.

Speaking to the Daily Graphic, the Assembly Member for the area, Mr Samuel Owusu Adjei, said the informal sector played a vital role in the socio-economic development of the country, hence the initiative to help them with the needed know-how to help their business.