The CEO of Quick Angels Limited, Richard Nii Armah Quaye, has advised entrepreneurs to be financially disciplined if they are to succeed in their field.
Speaking at the 3rd edition of the GIPC’s Entrepreneurs Forum, Mr. Quaye said entrepreneurs only succeed when they do proper management of their finances.
“Most entrepreneurs are not succeeding because of lack of funding. It is rather financial indiscipline,” he stated.
He added: “The misappropriation of funds by some entrepreneurs is a major reason they do not survive.”
Mr. Quaye said an entrepreneur can have all the brilliant ideas, the skills, the funds and expertise or expert advice, however, if he is not disciplined financially he will “end up nowhere.”
Speaking on the GIPC partnership, Mr. Quaye noted that GIPC‘s role or focus on nurturing and mentoring entrepreneurs is a laudable initiative, adding it is in line with Quick Angels vision of supporting potential and existing entrepreneurs.
He said his outfit also wants to help businesses that want to expand with equity financing, mentoring and giving expert advice hence the need to support such a venture.
“The best funding for any start up should obviously not be debt finance,” he said. He recommended Angel investing as the best funding model for any start up business.
Quick Angels Limited is the first and formally institutionalized angel investor company in Ghana that seeks to support potential and existing entrepreneurs as well as business with equity financing.