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Ghana Tourism Authority commemorates World Tourism Day with regatta and fun games in Ada

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Running a small business is demanding. Each day presents challenges that can affect your cash flow, your customers, and your ability to grow. Amid these demands, it is easy to lose sight of long-term financial priorities. However, businesses that last are not only those with good products or strong customer service. They are often the ones with better financial habits. This article outlines seven essential points that will help SMEs manage their finances more effectively, reduce risk, and plan for growth. 1. Start with a Clear Financial Plan A good financial plan gives direction to your business. It helps you set targets, allocate resources, and make informed decisions. Start by defining your financial goals. These should be SMART - specific, measurable, actionable, realistic, and tied to timelines. For example, you should determine how much revenue you need each month, what level of production or service delivery is required to meet that target, and how you intend to achieve it. 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Many small businesses struggle in this area due to time constraints, limited expertise, or a lack of systems. However, proper record-keeping should never be overlooked. It supports internal decision-making, strengthens external credibility, and improves your ability to respond to opportunities or risks. Business owners can start by gaining basic knowledge of accounting principles and tools. Training employees in simple record-keeping practices also helps to build internal capacity. In some cases, it may be worthwhile to engage professionals who can help you put the right systems in place and prepare essential reports at a cost that makes sense for your business. 3. Choose a Banking Partner Aligned with Your Goals The right banking relationship can make a real difference to your business. A bank like Absa Bank is more than a place to keep your funds. It is a partner that can support your operations, guide your financial planning, and help you take advantage of growth opportunities. Begin by understanding your business needs. These might include working capital support, payments and collections services, or trade finance. Once your needs are clear, assess whether your bank offers the right mix of services, accessibility, and expertise. Your banking partner should make it easier to run your business, not harder. They should share your ambition to grow, be responsive to your concerns, and provide solutions that are tailored to the stage your business is in. A strong banking relationship will give you confidence and peace of mind as you build your enterprise. 4. Deploy Effective Payment Solutions Revenue is the foundation of every business and the way you go about collecting it is key. In today’s economy, customers expect fast, simple, and secure payment options. If your business only accepts cash, you may be turning away potential sales without realising it. Providing customers with flexible payment options is no longer a luxury. It is a necessity for growth and long-term relevance in a digital economy. Offer customers alternatives such as instant bank transfers, mobile money, card payments through point-of-sale devices, or more innovative solutions like Absa Mobi Tap to improve your customer experience and increase your reach. These methods reduce delays, enhance transaction security, and demonstrate professionalism. 5. Meet Statutory Obligations Promptly Every business has legal and regulatory responsibilities. These include filing and paying taxes, submitting Social Security and National Insurance Trust contributions, and meeting other sector-specific requirements. Complying with these obligations on time helps you avoid penalties and disruptions. It also builds your business’s reputation and improves your standing with financial institutions and regulators. To stay compliant, you should adopt a legal structure that suits your business model and goals. You may also wish to seek legal or tax advice at key points in your journey. Planning ahead for obligations such as annual tax payments or quarterly filings ensures that you are not caught off guard. Meeting your statutory responsibilities consistently is a mark of a well-run business. 6. Manage Your Risks Running any business involves risk. These risks may include delayed payments from customers, unexpected costs, economic downturns, or even natural disasters. For small businesses operating with limited resources, such events can be difficult to absorb. This is why risk management must be part of your financial routine. Start by identifying the main risks that could affect your business. Put in place basic measures to protect your operations. This could mean setting aside emergency reserves, purchasing insurance, or diversifying your income streams. Being proactive about risk does not eliminate uncertainty, but it helps you stay in control when challenges arise. 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Ghana Tourism Authority commemorates World Tourism Day with regatta and fun games in Ada

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Ghana Tourism Authority commemorates World Tourism Day with regatta and fun games in Ada

Ghana Tourism Authority commemorates World Tourism Day with regatta and fun games in Ada

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By: Miriam Akuetteh

The Ghana Tourism Authority (GTA), has held some exciting industry fun games as part of activities to mark its 50th anniversary and celebrate World Tourism Day.

The theme for the celebration, “Tourism and Green Investments”, focuses on green investment as key priority for tourism recovery, future growth and development, and a new and innovative solution to invest in the environment.

The participating teams included, Ghana Tourism Authority, Let’s Tour Ghana, Sege and Ada Corporate teams.

The games which were held at the McDan Sports Complex brought together several agencies under the Ministry of Tourism, Arts and Culture, and other corporate entities within the Ada enclave.

Another exciting scene which attracted participation was the regatta between indigenes in the community. Five teams each participated with Adzidza kpe emerging winners.

The event began with a football match between the Ghana Tourism Authority and Let’s Tour Ghana. Let’s Tour Ghana were winners of the day.
Disciplines competed in included soccer, regatta and dancing competitions among others.

Speaking at the event, Mr. George Nkrumah Angri, Regional Director for Ghana Tourism Authority said over the years, GTA has been celebrating World Tourism Day under the auspices of the Ministry of Arts and Culture in different regions to put them in the spotlight and this year Ada was chosen to attract more visitors and investors to the enclave for economic development.

“We should be able to put things that will make visitors who come here stay longer and enjoy the environment, thereby leaving something in the economy which will trickle down to the benefit of the local economy to help create jobs and raise economic levels.

He reiterated measures put in place to revamp the Colonial fort and prison in Ada to serve as a major tourist site in the region.

In attendance was the Chief Executive Officer of Ghana Tourism Authority, Mr. Akwasi Agyeman, District Chief Executive of Ada East, Sarah Dugbaki Pobee, Departmental heads and Staff of Ghana Tourism Authority and indigenes of Ada.

The series of activities to compliment the World Tourism Day celebration in Ada included a grand durbar, tree planting exercise, an exhibition and a tour of the town.

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