Our services are targeted at 'Hungrier and thirstier' working class individuals who want to venture in to business for themselves and existing businesses whose desire is to increase traction for rapid growth.
According to the Minister of Business Development, Mr. Awal Mohammed, statistics indicates that 75 percent of businesses in Ghana fail within the first three years and those businesses that are able to exceed three years do not go beyond 10 years of operation. Considering the fact that small businesses constitute over 90 percent of all businesses in Ghana, these are alarming records and the rate of failure is certainly unacceptable. Convictions Enterprise would work with you in ensuring that you are exempted from this predicament.
The two main issues that may trigger the success or otherwise of a business (SME), irrespective of the industry within which the business operates, are managerial skills and adequate capitalization. That is why Convictions Enterprise has stepped in, to provide the relevant support system for the success and sustenance of the various business entities in Ghana.
Due to the growing recognition of the important role small and medium enterprises (SMEs) play in the development of small and large economies, the critical intervention by Convictions Enterprise is long overdue.
At Convictions Enterprise, the Main focus is helping businesses gain enough traction to sustain the business. Money is the Life wire of any operational business and the lack of it marks the beginning of the end for that particular business. So, who brings the money? ... the customer (the boss of the business). That is why the focus is on building a huge customer base, to raise enough money, to be able to grow and sustain the business for as long as possible.
Whether you’re starting a business or expanding one, sufficient ready capital is essential. It is not enough to simply have sufficient financing; knowledge and planning are required to manage it well. These qualities ensure that entrepreneurs avoid common mistakes like securing the wrong type of financing, miscalculating the amount required, or underestimating the cost of borrowing money. This is the type of need that Convictions is here to meet.
For Starters and small businesses, it would be significant to have some basic book keeping skills. Convictions will help you in the area of book keeping, for you to be able to monitor your cash flows.
Convictions will help you get answers to the following questions; Who are your customers? How are you going to reach them? How loyal are your potential customers to their current supplier? Do customers keep coming back or do they just purchase from you one time? Does it take a long time to close a sale or are your customers more driven by impulse buying?
Pricing is one of the significant factors that determine the growth of the business. You must clearly define your pricing strategy. You can be the cheapest or you can be the best, but if you try to do both, you’ll fail.