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A striking paradox exists in Ghana: despite our people’s abundant talent and wisdom, many capable individuals shy away from pursuing innovative ventures. The primary reason for this hesitation is a pervasive fear of financial inadequacy. This fear
The break-even point (BEP) and break-even analysis are related financial concepts used to assess a business’s financial health. The break-even point is the specific level of sales at which total revenues equal total costs, meaning there is
Understanding the burn rate is crucial in the fast-paced world of startups, where every cedi matters. This metric measures how quickly a company spends its cash, serving as a financial fuel gauge for a young business. Burn
Efficiency ratios are critical financial metrics that evaluate how effectively a company utilises its assets and manages its liabilities. These ratios provide insights into various aspects of a company’s operational performance, including asset management, inventory management, and
In our competitive business world, maximising customer value and increasing revenue are constant goals. Cross-selling emerges as a powerful strategy in this context. Cross-selling is the art of promoting additional products or services to existing customers that
Client retention is a critical aspect of business success that involves maintaining long-term relationships with existing customers. Retaining existing clients is often more cost-effective than acquiring new ones, making client retention a priority for businesses across industries.