Tag Archives: SMEs

Having a Mentor is Key to Business Success

challenges mentor

According to Bloomberg, eight (8) out of ten (10) small businesses fail within the first eighteen (18) months of operation. As surprising as this may seem, the figures may even rise in the next decade as millennials keep launching ideas and businesses. Working with over 200 Micro, Small, and Medium Enterprises in an emerging economy, Challenges Ghana – through its business support services programme, International Citizen Service – has noticed that a clear trend which inhibits business growth is Leadership and Management – as opposed to lack of capital. Deficiencies in leadership and management rank highest as the most frequent reasons for businesses to fail. A business that is well managed prospers; one that is not, fails. read more

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