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Springfield Donation

Pinamaa foundation, Springfield Group donates to deprived schools

February 24, 2020
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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. Once your targets are clear, you will need a working budget. A good budget helps you monitor income and expenses, manage cash flow, and ensure that your business remains on track. It also provides a basis for deciding what to prioritise and what to postpone. At its best, your financial plan should help you answer key operational questions such as what resources are required to operate or grow, where those resources will come from, what they will cost, and whether your business is in a position to take them on. Planning in this way reduces uncertainty and allows you to run your business with greater clarity and confidence. 2. Maintain Accurate Financial Records Accurate financial records are essential for any business. Whether you are managing day-to-day operations, planning for future growth, or applying for funding, clear and reliable financial information allows you to make sound decisions. 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. 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Pinamaa foundation, Springfield Group donates to deprived schools

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The Pinamaa Foundation, in partnership with the Springfield Group, has donated to 500 primary school pupils from 5 underprivileged schools in the Abuakwa South Municipality, in the Eastern Region.

Themed “A Sole for a Soul,” the donation exercise which is the maiden edition by the organisation seeks to support less deprive schools across the country.   

Over 400 children each received a comfortable pair of shoes under the Springfield Group STEP project. The Springfield Group has promised to take all necessary steps to provide all the children who were present but were unable to receive a pair of shoes with one in the immediate future.

The Springfield Group’s STEP project is an extraordinary project that seeks to provide 10,000 pupils in deprived areas with a comfortable pair of shoes for school.

Donating the items, Madam Danielle James of the Springfield Group explained that, “The vision behind the STEP project is to facilitate learning for 10,000 Ghanaian primary pupils.” The team at the Pinamaa Foundation shares this vision and it is that unity of purpose that formed the basis for the partnership.

For her part, Executive Director of the Pinamaa Foundation, Mrs. Phillipina Akyea. Stated that, “This was a Christmas party with a difference. In the spirit of the festive season, there was a lot to eat and drink. However, beyond that we wanted to leave a more lasting impact. Education is undeniably a fundamental factor in nation building and is the key to achieving success in our development efforts. These children live and school in some of the remotest parts of the Eastern Region. Almost all of them walk several miles to school yet most do not have proper footwear, which is why the S.T.E.P shoes are a blessing.

She added that “We decided to provide the free eye screening in addition because we know that children with vision problems find it difficult to appreciate what is taught in class”.

Springfield Donation

‘…. The team at Pinamaa believes that every citizen should support the education of the next generation. The children are our future. It is our hope that this program will be repeated in other regions of the country so more children benefit.”

Mrs. Phillipina Akyea further urged individuals and corporate bodies to partner with the Pinamaa Foundation so as to improve the lives of the underprivileged and protect our youth.

All 500 children underwent a free eye examination and received free medication when necessary. The children were delighted to receive the numerous toys and school stationery that were distributed. The children also participated in several games and sang along to Christmas songs as we served them with food, water and various drinks

Also read: Barclays Ghana holds business club meeting head of Absa launch

The Foundation places a high premium on education and has undertaken similar projects such as donating over 1100 mathematical sets for all B.E.C.E candidates in the East Akim Municipality in March last year. The Pinamaa Foundation also organizes seminars to educate teens and teen mothers on how to protect their sexual and reproductive health.

Springfield Donation

The Foundation has further assisted to reinstate drop out teen mothers back into the society by empowering them with various skills such as hairdressing and sewing.

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