• Latest
  • Trending
ORAL has enough evidence of looted state assets – Ablakwa

Okudzeto Ablakwa explains why Bawumia’s 100% score on foreign relation is inaccurate

February 12, 2020
Resetting The Nation: Mahama Urged To Back Rhetoric With Decisive Action On ORAL And Galamsey-Oppong-Fosu

Resetting The Nation: Mahama Urged To Back Rhetoric With Decisive Action On ORAL And Galamsey-Oppong-Fosu

September 25, 2025
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.

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

September 25, 2025
New Tullow CEO meets Ghana President

New Tullow CEO meets Ghana President

September 25, 2025
Kumasi Businessman Wins Brand New Car in 13th Telecel Dream Car Promo

Kumasi Businessman Wins Brand New Car in 13th Telecel Dream Car Promo

September 25, 2025
Telecel Ghana Holds AI Workshop for Young Entrepreneurs for SME Month

Telecel Ghana Holds AI Workshop for Young Entrepreneurs for SME Month

September 25, 2025
Mahama Renews Africa’s Demand for Permanent Seat on UN Security Council

Mahama renews Africa’s demand for permanent seat on UN Security Council

September 25, 2025
Abandoned Mallam market structure to Be demolished-Ablekuma North MCE

Abandoned Mallam market structure to Be demolished-Ablekuma North MCE

September 25, 2025
Galamsey fight: You can’t repeat the same mistakes and expect a different results – GSSMA warns government

Galamsey fight: You can’t repeat the same mistakes and expect a different results – GSSMA warns government

September 25, 2025
Education Minister vows transparency in SHS placement, warns against system abuse

Education Minister vows transparency in SHS placement, warns against system abuse

September 25, 2025
Cyber Security Authority warns high school graduates against indecent social media posts

Cyber Security Authority warns high school graduates against indecent social media posts

September 25, 2025
Over 1,000 Indonesians sick from school meals in more food poisoning outbreaks

Over 1,000 Indonesians sick from school meals in more food poisoning outbreaks

September 25, 2025
Free SHS Secretariat urges Parents to accept School Placements

Free SHS Secretariat urges Parents to accept School Placements

September 25, 2025
Happy Ghana
Advertisement
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home Sports

Okudzeto Ablakwa explains why Bawumia’s 100% score on foreign relation is inaccurate

in Sports
ORAL has enough evidence of looted state assets – Ablakwa

ORAL has enough evidence of looted state assets – Ablakwa

Share on FacebookShare on TwitterShare on Whatsapp

Member of Parliament for North Tongu in the Volta Region and Ranking Member of the Foreign Affairs Committee, Hon. Okudzeto Ablakwa has stated that Vice President Bawumia’s assessment of the progress of Ghana’s foreign relations is inaccurate.

Dr. Bawumia at Government’s first ever town hall meeting held at the Kwame Nkrumah University of Science and Technology asserted that the Government had achieved 100% in the areas of Growing Together and Foreign Affairs.

In an interview on the Happy Morning show aired on Happy 98.9FM, the Minister explained that issues of corruption and lack of press freedom had damaged Ghana’s image in the international community.

He furthered that international relation is a very complex arena which strength depends on a lot of factors. As such, it is impossible to pin one’s progress to only one factor.

Corruption

The Honourable Minister has cited corruption as one of the factors that has tarnished the good image of the country. According to him, international assessment has shown that Ghana has performed poorly when it comes to curbing corruption.

“When it comes to our image with regards to corruption, Ghana has dropped two places down on the transparency international corruption index under President Akuffo Addo. And for the first time, ambassadors who do not like to meddle in your domestic affairs are speaking out about corruption. There is a series of diplomatic condemnation of heightening corruption. The Dutch ambassador began to speak by saying that why not Ghana beyond corruption rather than Ghana beyond aid. Followed by Australian High Commissioner, speaking publicly about corruption that the way corruption has heightened in the country, he is even surprised that majority of Ghanaians are Christians whilst he is an atheist and yet, he can’t believe the level of corruption under this Government. You have heard US ambassador, Ambassador Sullivan publicly speak about corruption”, he said.

He further commented that the PDS scandal cost Ghana a lot of money from the international community.” For the first time the Millennium Challenge Compact cancelled money that was supposed to come into the country because of this scandal. It has never happened before, he added.

READ MORE: Okudzeto describes Bawumia’s posture at Town Hall Meeting as arrogant

Press Freedom

In furtherance to his point of corruption, the Minister asserted that Ghana had declined in its position as one of the countries that promote press freedom.

“Even in the area of media freedom, do you know we have dropped? We have lost our number one spot in Africa that we are now number three (3) in Africa. On the global indicators we have dropped four places. Even when it comes to press freedom, in the history of this country, a journalist has been assassinated and the international community was very angry with us that up till now there has been no arrest or update. We have not provided any prosecution and that Ghana must watch. So when it comes to our image in the international scenes, our image is in tatters”, he stated.

READ MORE: Gov’t to introduce mobile app for payment of electricity bills

When quizzed on whether the frequent visitations of high-ranking profiles into the country could not account for a good image, he responded: “Foreign relations is not just simple as people visiting or high level visits. It is not enough to say that people are visiting you so that necessarily is the only indicator. Yes, I will concede that when you have increased visits, it shows that you are a favourable destination. But you don’t look at only that in isolation. We must look at the stability we have had over the years which has accumulated till now. It is the collective dividends of our sacrifices to ensure that democracy is maintained”.

Tags: Bawumiaforeign relationSamuel Okudzeto Ablakwa

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

NPP gov’t has not delivered in the area of Sports- Nii Lante Vanderpuiye

Next Post

#ValentineBreakupLine: Is it really just a trend?

Next Post
#ValentineBreakupLine: Is it really just a trend?

#ValentineBreakupLine: Is it really just a trend?

Search

No Result
View All Result

Listen Live

Happy Kaseɛbɔ 600AM news bulletin
Happy Kaseɛbɔ 600AM news bulletin

BBC Match of the Day Africa

Happy Ghana

Recent News

  • Resetting The Nation: Mahama Urged To Back Rhetoric With Decisive Action On ORAL And Galamsey-Oppong-Fosu
  • Financial Habits Every SME Must Adopt: The 7-Point Check List
  • New Tullow CEO meets Ghana President
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.