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Ghanaian Players Abroad: Ekuban, Mensah, Dauda score over the weekend

Ghanaian Players Abroad: Ekuban, Mensah, Dauda score over the weekend

June 15, 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. 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.

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Ghanaian Players Abroad: Ekuban, Mensah, Dauda score over the weekend

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Ghanaian Players Abroad: Ekuban, Mensah, Dauda score over the weekend
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Happy Sports brings to you the Performance of Ghanaian Players Abroad over the weekend in their respective matches across the leagues as football restarts amid the coronavirus pandemic.

GERMANY

In the Bundesliga, Christopher Antwi-Adjei played 71 minutes for Paderborn in their 5-1 defeat to Werder Bremen

In the Bundesliga 2, David Atanga made a brief appearance for Holstein Kiel in their 2-1 defeat to Wehen

Daniel Kyereh featured for Wehen in the game

Godsway Donyoh missed Dynamo Dresden game against Hamburger SV

In the Bundesliga 3, Aaron Opoku played 79 minutes for Hansa Rostock in their 1-0 win over Munich 1860

Prince Owusu lasted the entire duration in the game for 1860 Munich

ITALY

In the Coppa Italia, Kwadwo Asamoah warmed the bench as Inter Milan were held to a draw by Napoli

SPAIN

In the La Liga, Iddrisu Baba came on as a substitute to play 34 minutes for Real Mallorca in their 4-0 defeat to Barcelona

Lumor Agbenyenu missed the game due to injury

Thomas Partey saw 90 minutes for Atletico Madrid in their 1-1 draw against Ath Bilbao

Joseph Aidoo came off the bench to play 45 minutes for Celta Vigo in their 1-0 defeat to Villareal

In the La Liga 2, Abdulai Sabit was on the bench for Extremadura in their 1-1 draw against Elche

Samuel Obeng saw 12 minutes of action for Real Oviedo as they were held at home by Ponderradina

AUSTRIA

In the Austria Bundesliga, Kelvin Yeboah scored for Tirol in their 3-0 win over Admira

Samuel Tetteh saw 57 minutes of action for Lask Linz in their 3-1 defeat to Salzburg

Majeed Ashimeru played no part in the game for Salzburg

Isaac Donkor played no part in Sturm Graz game against Hartberg

BELARUS

Francis Narh lasted the entire duration for Slavia Mozyr in their 1-0 defeat to Din.Minsk

BULGARIA

Edwin Gyasi saw 59 minutes of action for CSKA Sofia in their 1-1 draw against Lok. Plovdiv

CZECH REPUBLIC

Benjamin Tetteh saw 45 minutes of action for Sparta Prague in their 2-0 win over Slovacko

Emmanuel Antwi played 45 minutes for Pribram as they lost 4-0 to Teplice

CROATIA

Obeng Regan played no part in Istra 1961 game against Rijeka which the lost by 3-1

DENMARK

In the Danish Super League, Kudus Mohammed, Isaac Atanga, Abdul Mumin  featured for Norsdjaelland in their 1-1 draw against FC Copenhagen.

Sulemana Kamal Deen scored the equalizer for Norsdjaelland,

Dauda Mohammed scored in Esjberg 4-2 win over Randers on Friday. He was adjudged the man of the match

In the First Division, Emmanuel Toku featured for F.Amager in their 3-1 defeat to Fredericia

ISREAL

In the Ligat Ha’al, Emmanuel Boateng played 57 minutes for Hapeol Tel Aviv in the 4-0 defeat to Hapoel Haifa

Gershon Koffie played the full throttle for Hapoel Kfar Saba as they drew against Hapoel Hadera

Montari Kamaheni and Samuel Alarbi featured for Ashdod in their 2-0 win over Nes Tziona

SLOVAKIA

Sadam Sulley played the full throttle for Senica in their 1-1 draw against Sered

Osman Bukari scored for Trencin in their 4-0 win over Pohronie

Ernest Boateng saw 22 minutes of action for Dun.Streda in their 5-0 win over Michalovce

SWEDEN

Ebenezer Ofori saw 69 minutes of action for AIK in their 2-0 win over Orebro

Enoch Adu came off the bench to play 21 minutes for AIK

TURKEY

Bernard Mensah scored a spectacular free kick for Kayerispor in their 2-1 defeat to Fenerbache

Caleb Ekuban scored in Trabzonpsor’s 3-1 win over Goztepe

Kevin-Prince Boateng played 64 minutes for Besiktas in their 2-1 defeat to Antalyaspor

Afriyie Acquah saw 75 minutes of action for Yeni Malatyaspor in their 2-1 defeat to Kasimpasa

Compiled by Herbert Boakye Yiadom

Tags: Caleb Ekuban

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