Renowned Economist and former Member of Parliament of Subin Constituency in the Ashanti Region, Hon. Isaac Osei, has shared valuable alternatives to starting a business with the absence of a capital.
Speaking to Rev. Erskine on the Y Leaderboard Series, he shared: “The first thing really is for you to educate yourself and then secondly you will have to work under somebody. Learn at the feet of those who know. When I rarely got into business, I was under the tutelage of Mr. Adusei.
You cannot start straight away and say that I am going to do business. Unless you have a brilliant idea which you can package and sell for somebody to raise a capital or for somebody to join you in a venture, it is going to be very difficult. You will have to go under some tutelage or mentorship and you can learn at the feet of others”.
Isaac Osei furthered that one has to cultivate the art of saving if he or she wants to succeed. He observed that probably because of the hard times we find ourselves in, people find it hard to save these days.
“If, for example, you are in a job and you want to build and you do save you can never be able to build.
Right from inception, it was my idea that ten to twenty percent of my income should be saved and it helps because once you have that basic income you can then borrow but people spend and overspend and then they go borrow. The thing is you cannot spend what you don’t have. When you do that then you are in trouble”, he added.
By: Alberta Dorcas N D Armah