As another group of university graduates completes their National Service and prepares to enter the labour market, thousands of young people are once again asking the same question: what comes next?
For many, the next step will be searching for jobs in a labour market that continues to face the challenge of creating enough opportunities for a growing number of job seekers.
Others may turn to entrepreneurship, whether by choice or necessity.
But having an idea is only the beginning.
From turning an idea into a viable business, finding customers and raising the first capital to managing operations and eventually expanding, the journey from ideation to startup and from startup to growth comes with its own challenges.
And the challenge does not end once a business is established.
Ghana already has thousands of businesses operating across retail, agriculture, manufacturing, services, technology and other sectors. Many generate revenue and serve customers, yet struggle to move beyond survival.
So, what does it take for a business to grow?
Finance is an important part of the answer, but the conversation goes beyond bank loans.
A young business may start with personal savings, family support, grants or other early-stage funding. As it grows, it may need working capital, asset finance, an angel investor, venture capital or development finance. An established company seeking significant expansion could eventually consider private equity or other forms of institutional capital.
The question is not simply “Where can a business get money?”
It is “What type of capital does a business need, at what stage, and what does it need to do to access it?”
That brings another issue into focus.
A business can have customers and generate revenue but still struggle to attract financing because it lacks proper financial records, strong systems, clear governance or a structure that gives financiers confidence.
For an informal business, formalisation may be part of the journey. For a growing SME, better accounting, management systems and planning may be necessary before it can take the next step.
These questions matter to both the graduate considering entrepreneurship and the business owner who has already spent years in the market.
Why do some businesses remain small while others expand? What makes a business bankable or investable? When should a business use debt, and when is equity more appropriate? And what does it take to move from an owner-dependent operation to a sustainable enterprise capable of creating jobs?
These are the questions From Survival to Scale will explore.
The series will examine how businesses start, how they become structured, how they access different forms of capital and what it takes to move from survival to sustainable growth.
Because the goal is not simply to start a business.
It is to build one that can grow.
Join us as we explore this conversation from now and throughout the coming months.
And if you have ideas, experience, opportunities or solutions that can help young people, individuals and businesses turn ideas into viable ventures, access the right capital, grow and build sustainable enterprises, we’d love to hear from you.
Reach out via [email protected] be part of the conversation.
