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Northern Region NPP comes up with a strategic blueprint for 2019

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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. It also signals to lenders, partners, and customers that your business is prepared and resilient. 7. Separate Business and Personal Finances It may be tempting to treat your business account as your personal wallet, especially in the early stages. However, failing to separate your business and personal finances can lead to confusion, tax problems, and credibility issues. As a business owner, you should pay yourself a fixed salary. Avoid withdrawing funds at random or covering personal expenses with business income. If you invest personal funds in the business, document it properly as a loan or equity contribution. Keeping your finances separate helps you maintain clear records, assess business performance accurately, and present your enterprise in a more professional light to partners, banks, and regulators. At Absa Bank, we believe that strong financial habits form the backbone of every successful enterprise. Our commitment is to walk with our clients and customers at each stage of their journey, providing guidance, tools, and solutions that help SMEs grow sustainably and with purpose.

Financial Habits Every SME Must Adopt: The 7-Point Check List

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Northern Region NPP comes up with a strategic blueprint for 2019

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Northern Region NPP comes up with a strategic blueprint for 2019
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The Northern Regional Chairman of the Ruling New Patriotic Party (NPP) Mr. Mohammed Baantima Adam, has organised Regional Executive Committee meeting on Saturday 22nd December 2018 at the Party ultra-modern Regional headquarters.

The meeting was convened in other to help the Party in the region to review 2018 in terms of what has been accomplished and what remains outstanding. They also came up with a strategic blueprint for 2019 that will facilitate the achievement of the regional chairman’s “Agenda 22 seats” for NPP in the 2020 elections which all of them subscribe to.

Below is the release from the Party in the Region:

NORTHERN REGION NPP TAKES STOCK AND STRATEGIES FOR 2019.

Planning is an essential instrument in every known success story. In that regard, there is a saying that “failure to plan is planning to fail”. Cognizant of the importance of planning to achieve the goals of the party, the most dominant regional chairman of the governing New Patriotic Party (NPP), Mr. Mohammed Baantima Adam, convened a Regional Executive Committee meeting on Saturday 22nd December 2018 inside the ultra-modern party office he acquired and refurbished for the party soon after his election as regional chairman. In attendance were all regional executives, chairmen of all 31 constituencies in the northern region and the regional minister.

The major highlight of the meeting was for them to review 2018 in terms of what has been accomplished and what remains outstanding. They also came up with a strategic blueprint for 2019 that will facilitate the achievement of his “Agenda 22 seats” for NPP in the 2020 elections which all of them subscribe to.

In his address, the affable, magnanimous and visionary chairman congratulated everyone for their sterling performance in the year under review. He was particularly worried however that the party has not effectively communicated its message and numerous achievements nationally and in the region. He, therefore, called for concerted efforts towards communicating the achievements of president Nana Addo Dankwah Akufo-Addo and the NPP since to him, in two years the government has achieved more than what was achieved by its predecessor in 8 years. He mentioned the numerous pro-poor and business-friendly initiatives of the government that have positively impacted on the lives of Ghanaians. He stressed on the achievements of the government so far in fighting unemployment with the introduction of the Nation Builders Corps (NABCO) and massive recruitment in vital sectors of the economy like education, health, agriculture and security. Chairman Samba appealed for unity and camaraderie among party functionaries and government appointees in the region. He promised to resolve all feuds identified in the region between members of the party before they escalate and serve as impediments to the success of the party.

The regional minister reechoed the message of the regional chairman and added that the government has so far been able to achieve its main campaign message and several other laudable achievements not even captured in the NPP manifesto. He was excited about the pragmatic manner the party is being run in the region and added that he has no fears about the party making more gains from what was achieved in 2016 if it goes into 2020 with unity and common sense of purpose. He reiterated that as the chief government appointee in the region, his doors are open to the party whenever they desire.

On their part, the constituency chairmen gave accounts of how the party was being run in their constituencies and the relationship between government and party at the grassroots. They were with joy and appreciation to the regional chairman for always being in touch with them and solving most of their problems. They each gave an assurance to the regional chairman and minister that they will work to significantly increase the performance of the party in their various constituencies.

The meeting managed to adopt key political strategies going into the New Year. These strategies are not public but are geared towards maintaining the government in power beyond 2020.

The SAMBA era is the ACTION era. Chairman Samba is in touch with the party at the grassroots and he is leaving no stone unturned in his quest to make the NPP the party of choice in the northern region of 2020 and beyond. Agenda 2020, Agenda 22 seats are well on course.

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