- Patricia Asare, a University of Ghana alumnus begun a microfinance business enterprise in college soon after birthing the thought through a prayer session at a camp conference
- She sold her Iphone for the initial capital and operated the small business in her area until finally she finished college and registered the company with the Lender of Ghana
- The youthful woman obtained a grant from UKAid by means of Technoserve and received an trader alongside the line by a buddy
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Wonderful company tips come in varied techniques. There are people today who acquired their existence changing thought by means of conversations and some by way of dreams. Additional typically than not, good strategies are birthed in situations where a answer is wanted for an present issue or lack.
Patricia Asare, a former College of Ghana, Legon university student got her floor-breaking thought to start off a micro-finance company on campus whilst at a camp assembly. In a prayer session, it just clicked to her that she could lend funds to learners and achieve passions out of it.
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In an interview with YEN.com.gh, Patricia opened up about the steps she took soon after receiving the business enterprise concept and how she has been equipped to develop and sustain the enterprise around the many years.
Boosting initial money to commence the micro-finance company
Upon returning from the camp meeting, Patricia commenced preparations in direction of bringing her plan to gentle and 1 of the issues she experienced to determine out was the beginning cash. To finance her new concept, Patricia realized she experienced to make a big sacrifice and she did just that.
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“I had no dollars easily readily available to start off my venture so I chose to promote the Apple iphone I was using at the time to raise the money I desired”
With her capital obtainable, Patricia ideal way began lending out income to college students who wanted financial loans. Her room in school was the site of the company and thankfully, a handful of of her mates volunteered to support her out.
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Registering the enterprise with Financial institution of Ghana immediately after completing College of Ghana, Legon
The micro-finance obtained a lot of patronage from students on campus and by the time Patricia graduated from the university, she knew jogging her business on full time foundation was the ideal option for her.
“By the time I done, I was well informed of the potential of my business to increase greater than it at present was and so the future move was to get it registered with the Financial institution of Ghana and I also made positive all the important licenses to ensure smooth operation of the business had been obtained”
She also enrolled in a selection of business courses to understand extra about running a organization and interned with consulting corporations to broaden her business enterprise administration know-how.
An attention-grabbing element of Patricia’s journey was the response of her mother and father when they initially found out she experienced a business in faculty.
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“Moms and dads getting ‘parent’, they were disappointed that I was running a small business in school as an alternative of entirely concentrating on the explanation for which I was in faculty but at some point, they arrived about. They had been even so proud of me to the extent that they invested in my business”, she instructed YEN.com.gh
Getting a countrywide company personnel for her individual business and hiring permanent staff
As mandated by the governing administration of Ghana, Patricia had to go by way of national support for a 12 months after completing university but remaining the manager lady she was, Patricia was able to get issues managing in her favour.
“Immediately after faculty, I paid a go to to the National Provider Secretariat and fortunately, they were being in a position to alter my services submitting to my have corporation.”
Patricia was also capable to utilize a number of long-lasting staff and continued to have interaction student volunteers. The organization operate successfully from 2015 till 2020 when the COVID pandemic hit and they had to go on a crack.
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“The pupils who have been our shoppers experienced to go household because of to the pandemic and business dwindled very owing to that. I also bought married, received expecting and welcomed our bundle of pleasure which meant putting the enterprise on maintain for a very little for a longer period”
Receiving fiscal guidance from UKAid and other investors
Patricia shared with YEN.com.gh that one particular of the issues that assisted her organization was getting funding from various people and entities.
“Along the line, a good friend of mine launched me to a male who fortunately grew to become my 1st trader, I also acquired grants from UKAid by means of Technoserve and my mothers and fathers assistance me from time to time”
The intention according to the young lady is to resume organization coming June, 2022 as factors have settled down and learners are now in school.
For Patricia, getting a organization proprietor at a lot less than 25 many years was really difficult. It necessary a great deal of willpower, appropriate management and resilience but the ultimate purpose to develop a better and sustainable long term for herself is what retains her going all the instances.
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To the younger ones who want to operate their very own firms sometime, the micro-finance CEO encouraged them to constantly recall that they are very substantially capable of acquiring anything they set their minds to and that they only need to have to remain dedicated and to hardly ever reduce sight of the close objective.
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Meanwhile, YEN.com.gh previously documented that Lydia Amedekah, a young Ghanaian woman a short while ago took to social media to introduce herself and open up about what she does to sustain herself.
In a write-up on her LinkedIn timeline, Lydia discovered that she is a scholar at the Ho Specialized University.
She also shared that she at present performs as a fashion style and a textile designer on a element-time foundation and the purpose is to a single working day dominate Ghana’s manner market with fashionable outfits.