A manufacturer based in the Upper East Region Jacob Avogo has advised budding entrepreneurs to be patient in running their startups.
He noted that starting a business in Ghana is most challenging due to unfriendly tax regimes and thus, budding entrepreneurs should exercise patience in nurturing their businesses.
Jacob Avogo entreated them not to expect a breakthrough in, at least, the first 4 years of the businesses.
Rather, he urged them to focus on improving themselves in the formative years to ensure the effective growth of their start-ups.
“As a young entrepreneur, learn how to be patient and then improve in your work. Don’t expect that within two, three, four years you should break through in your business.”
Avogo, who is known for manufacturing farm equipment, said this while decrying the country’s tax regime.
According to him, the current tax regime stifles business growth and the country’s economy as a whole.
“You don’t tax your people to a level that they themselves cannot survive,” he stated, adding, “if the taxes go down, at least the cost of our metals will go down and production will not be as high as it is now”.
He, however, urged budding business owners to remain steadfast and improve themselves so as to navigate the difficult business environment.
