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I will reply Ken Agyepong in equal measure, if he continues lying-Asamoah Gyamfi

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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.

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I will reply Ken Agyepong in equal measure, if he continues lying-Asamoah Gyamfi

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A stalwart of the governing New Patriotic Party (NPP) has said he roll up his sleeves and descend into the gutter with the Member of Parliament for Assin Central in the Central Region anytime he (MP) lies about the leadership of the party.
According to Asamoah Gyamfi, he will reply the loud-mouth and self-styled billionaire MP ten times; if he lies ten times about the NPP leadership under Nana Addo Dankwa Akufo-Addo.
‘Who does he think he is in the party, when we formed this party in 1992 he was plying his visa trade in the United States of American.
Why he thinks he can run everybody down in the party ? he questioned.
Some of us will not sit down aloof for him to drag the name of the party into the mud and further give ammunition to the opposition National Democratic Congress.
Mr. Asamoah Gyamfi was pissed by the behavior of the party’s sitting MP for coming on radio with issues that must not be made public on the ‘Epa Hoa Daben’ show hosted by Kwame Afrifa- Mensah on Happy FM in Accra.
‘If he cares to know some of us have played key roles in the party since it formative days but till we do not complaint about some of the developments in the party openly the former Special Assistant to the late National Chairman of the party Jake Obestebi-Lamptey.
‘There are several people who have sacrificed their lives for the party and they have nothing to show for their support for the party over the years yet they feel proud belonging to the party’.
Mr. Asamoah Gyamfi took the MP to the cleanest over his constant comments in the party adding that the actions of the MP is fast becoming a disservice to the party.
But, Ken Agyepong is one of the luckiest MPs in the party who have benefited a lot yet he is the first to complaint when they feel a bit of frustration in the party he posited.
He has enjoyed from the party’s largess and by extension gotten so many for his immediate family so he should give some of us a break.
He had contracts during the Kufour regime and still enjoying under Nana Addo
I am assuring him that I will reply him in equal measure anytime he lies about the leadership of the party because we have tolerated him for a long time.
I am angered by his utterances because he is becoming a monster who will devour all of us some of us will not sit down and watch him destroy the party.

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