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Prof. Jane Naana Opoku-Agyemang resolves Dome Market Leadership dispute

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August 20, 2024
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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. 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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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Prof. Jane Naana Opoku-Agyemang resolves Dome Market Leadership dispute

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Prof. Jane Naana Opoku-Agyemang resolves Dome Market Leadership dispute

Prof. Jane Naana Opoku-Agyemang resolves Dome Market Leadership dispute

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Prof. Jane Naana Opoku-Agyemang, the running mate of the National Democratic Congress (NDC), has successfully brokered peace in the Dome Market leadership dispute, leading to widespread celebration among market women.

In a statement released on Tuesday, August 20, 2024 and signed by James Agyenim-Boateng, the spokesperson for Prof. Opoku-Agyemang, it was revealed that a prolonged leadership crisis within the Dome Market Traders Association had divided the market’s leadership.

The statement said two factions, led by Madam
Evelyn Abena Sebie and Madam Felicia Karley Amui, had both claimed legitimacy as the market queen, causing significant tension.

During her visit to the Dome Market in the Dome-Kwabenya constituency as part of her tour of markets in Greater Accra, Prof. Opoku-Agyemang intervened when the two market queens, in their remarks, introduced themselves as the rightful leaders while exchanging accusations.

The statement revealed that her mediation led to a historic handshake and embrace between the two leaders, symbolizing the end of their dispute and triggering joyous celebrations among the traders.

Prof. Opoku-Agyemang expressed gratitude for the resolution of the conflict and promised to revisit the market to address any remaining issues. She emphasized the importance of unity during challenging times, urging traders to focus on overcoming hardship and development rather than internal conflicts.

She highlighted the NDC’s commitment to improving the market’s conditions and assured that under an NDC administration, there would be a comprehensive redevelopment plan for markets across the country. Additionally, she promised support for traders and small to medium-sized enterprises through the proposed Women’s Development Bank, aimed at providing essential microfinance support for women-owned businesses.

Prof. Opoku-Agyemang also expressed sympathy for the economic difficulties faced by Ghanaians due to the current government’s mismanagement and assured that the NDC would provide much-needed relief. Recalling the comparative experiences under the NDC and NPP governments, she urged voters to support the NDC to continue its progress and development efforts.

Tags: Election 2024National Democratic Congress (NDC)

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