Home News Here are some investment tips from Prince Kofi Amoabeng

Here are some investment tips from Prince Kofi Amoabeng

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Business News of Thursday, 9 December 2021

Source: www.ghanaweb.com

2021-12-09

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Ghanaian business mogul, Prince Kofi Amoabeng, has shared some investment tips to enable young entrepreneurs to commence and develop their various businesses.

According to him, young entrepreneurs must believe in their product and have the requisite backing from people who share the same sentiment of the product and dream.

Speaking in an interview on the YFM’s YLeaderBoard Series, the former Chief Executive of the defunct UT bank urged entrepreneurs and startups to desist from asking for huge sums as investments.

“Go to the people who know you for funding. Giving up money is not easy so you need to go to people who know you and your past. When I was starting UT, I was able to raise capital because people knew me to be honest, a person with integrity and was a no-nonsense military man so they could risk with me. For startups, you should always target friends and families for business loans and if they know you’re a serious person they will invest in you,” he stated.

He shared that after receiving loans from familiar people to kick start a business, the owners and investors need to discuss the module for return on investments.

“Don’t just go for money from your friends and family. Even if it is your father or siblings, discuss with them the profit they will enjoy on the loan. They may reject the proposal or not but give them a part of the business,” he explained.



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