Société Générale Ghana Home of Business holds Quarter 3 Catalyst Series on Thursday, September 14, to educate Small and Medium Enterprises about risk resilience.
The Catalyst Series is an initiative of Société Générale Home of Business that provides a capacity-building platform for MSMEs by training, mentoring, and coaching them on various pertinent subjects. The project also creates access to finance to help scale up these businesses.
This 3rd edition was held on the theme “Risk Resilience; Empowering SME Entrepreneurs for Growth.”
According to Africa.com, a staggering 80% of businesses in Africa do not make it past their first five years of existence despite the continent having one of the highest entrepreneurial rates in the world.
Hence, the quarter’s workshop delved deep into the challenges faced by MSMEs and startups, shedding light on the critical factors contributing to their success or failure.
Mr. Hakim Ouzzani, the Managing Director of Société Générale Ghana, opened the session with a keynote address providing highlights and insights into various aspects of SME business growth.
Subsequently, the facilitator and trainer, Tom-Chris Emewulu, President and Founder of Stars From All Nations (SFAN), elaborated on the general risks SMEs and startups face, including:
- Unclear product or service goals
- Lack of product-market fit
- Growth challenges
- Team burnout
- Poor team alignment
- Undercapitalization
- Technological innovation
- Governmental policy
- Macroeconomic indices
He noted that to circumvent these risks, SMEs should take a second look at their people, processes, and products. “Refine your team and plug any talent gaps. Rework your business model, because how you make your money is more essential than how much you make. And make your business a technology business,” Tom-Chris Emewulu said.
Yvette Richardson, Country Manager for Home of Business, later took the stage to emphasize the hub’s mission of building the capacities of our youth in entrepreneurship, with a particular emphasis on nurturing young women entrepreneurs through coaching, mentoring, and training.
Other notable guests at the event include Mr. Daniel Kwesi Sarpong, Head of Corporate Banking.
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