- Patricia Asare, a University of Ghana alumnus commenced a microfinance organization in faculty just after birthing the concept during a prayer session at a camp meeting
- She bought her Apple iphone for the first cash and operated the company in her place till she concluded college and registered the firm with the Financial institution of Ghana
- The youthful lady received a grant from UKAid through Technoserve and bought an trader along the line by means of a mate
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Great business tips come in numerous means. There are persons who acquired their daily life modifying idea via discussions and some by goals. Extra often than not, excellent tips are birthed in periods where a alternative is necessary for an present issue or deficiency.
Patricia Asare, a former University of Ghana, Legon student acquired her ground-breaking concept to start off a micro-finance small business on campus while at a camp assembly. In a prayer session, it just clicked to her that she could lend income to students and acquire pursuits out of it.
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In an interview with YEN.com.gh, Patricia opened up about the measures she took soon after obtaining the organization concept and how she has been equipped to develop and maintain the enterprise more than the yrs.
Boosting preliminary cash to get started the micro-finance business
Upon returning from the camp assembly, Patricia commenced preparations in direction of bringing her thought to light and 1 of the factors she experienced to figure out was the starting funds. To finance her new idea, Patricia understood she experienced to make a enormous sacrifice and she did just that.
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“I had no dollars readily obtainable to get started my enterprise so I chose to offer the Iphone I was using at the time to raise the money I desired”
With her cash readily available, Patricia right way started lending out funds to students who necessary loans. Her home in college was the locale of the company and thankfully, a few of her friends volunteered to help her out.
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Registering the business enterprise with Bank of Ghana after completing College of Ghana, Legon
The micro-finance obtained a lot of patronage from college students on campus and by the time Patricia graduated from the college, she knew operating her organization on complete time basis was the finest possibility for her.
“By the time I finished, I was nicely knowledgeable of the potential of my business enterprise to mature even bigger than it at present was and so the up coming action was to get it registered with the Financial institution of Ghana and I also built positive all the necessary licenses to be certain smooth operation of the enterprise ended up acquired”
She also enrolled in a selection of business plans to discover far more about functioning a company and interned with consulting firms to broaden her business enterprise administration knowledge.
An attention-grabbing portion of Patricia’s journey was the reaction of her mothers and fathers when they initially found out she had a company in college.
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“Dad and mom being ‘parent’, they were not happy that I was managing a business enterprise in college in its place of entirely concentrating on the motive for which I was in school but finally, they arrived all-around. They have been even so proud of me to the extent that they invested in my organization”, she explained to YEN.com.gh
Becoming a national company staff for her personal business and employing permanent team
As mandated by the government of Ghana, Patricia experienced to go through nationwide support for a yr after finishing university but becoming the boss lady she was, Patricia was capable to get items working in her favour.
“Immediately after university, I paid a stop by to the Countrywide Service Secretariat and luckily, they had been in a position to alter my provider putting up to my very own firm.”
Patricia was also able to utilize a range of lasting employees and continued to interact college student volunteers. The business operate effectively from 2015 right until 2020 when the COVID pandemic hit and they experienced to go on a break.
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“The students who have been our customers had to go dwelling because of to the pandemic and company dwindled extremely thanks to that. I also got married, got pregnant and welcomed our bundle of joy which meant placing the small business on maintain for a very little longer”
Getting fiscal assistance from UKAid and other buyers
Patricia shared with YEN.com.gh that a single of the items that served her organization was finding funding from numerous people and entities.
“Together the line, a friend of mine launched me to a male who thankfully grew to become my 1st trader, I also received grants from UKAid by means of Technoserve and my moms and dads assist me from time to time”
The purpose in accordance to the younger lady is to resume organization coming June, 2022 as things have settled down and students are now in college.
For Patricia, remaining a enterprise proprietor at considerably less than 25 many years was pretty challenging. It essential a great deal of self-discipline, right management and resilience but the supreme purpose to establish a far better and sustainable long term for herself is what retains her likely all the times.
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To the youthful types who wish to run their individual organizations someday, the micro-finance CEO inspired them to constantly try to remember that they are pretty substantially able of attaining just about anything they established their minds to and that they only will need to continue to be dedicated and to by no means shed sight of the conclude intention.
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In the meantime, YEN.com.gh before reported that Lydia Amedekah, a young Ghanaian girl lately took to social media to introduce herself and open up up about what she does to sustain herself.
In a write-up on her LinkedIn timeline, Lydia revealed that she is a college student at the Ho Complex College.
She also shared that she now will work as a fashion style and design and a textile designer on a aspect-time basis and the purpose is to a person working day dominate Ghana’s fashion sector with trendy outfits