Don't Allow High Interest Rates on Loans to Colapse Your Business; This is how you can Finance Your Business without Borrowing
Starting a business enterprise in our part of the world is as difficult as pulling a cassava stem from a dry land in the harmattan season.
From registering a business to getting a small office to operate your business as well as getting suppliers, a market and other essentials such as packaging or branding, requires a substantial amount of money.
Due to some of these financial challenges, a lot of people are still at the 'Dreaming' stage of creating their businesses.
Meanwhile, percentage of the Labour force who still remain unemployed keeps increasing.
What's most worrying is also that, those who have gone through the mill to establish their own businesses faces survival problems as raising capital for contracts and other investments becomes a big problem.
Many Ghanaian or locally owned companies are faced with cashflow and liquidity problems resulting in folding up of a lot of businesses.
Is your business on the verge of winning a breakthrough contract but don't have the funds to finance the project?
You are probably thinking of going in for a loan yet you are skeptical because you may end up paying huge interest rates.
The following are means through which you can raise money for your contracts without going in for loans with high interest rate.
1. Get Registered on the Ghana Stock Exchange.
The Ghana Stock Exchange is a market where you can raise capital for your businesses through the Issuing of Shares.
That's, the stock market offers you a ready market where you can buy and sell shares, bonds and other securities.
Here in Ghana, the first thing you have to do in order to get registered on the Ghana Stock Exchange (GSE) is to first register your business as a Limited Liability Company.
This type of company allows you to issue shares.
There is also a minimum capital you are required to meet before you are registered.
Another way to raise capital for your contracts without going for loan is to Merge with another company that shares similar business interests, mission and vision with your company.
Mergers and Acquisition has proven to be one of the most effective ways of sustaining businesses financially.
When two or three businesses merge or join forces, they gain financial strength and becomes more competitive.
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