Flour and sugar for my bakery

Entrepreneur

About Me

Hi, my name is Baah Emmanuel. I am 25 years of age. At the age of four, I lost my father. My parents were farmers so I helped my mother at the farm. I was very determined to go to school so my mother helped me little by little. When I completed Junior High School, I started a small bakery to support her. I was able to raise a little money and with the help of my mother I went to High School. I used to come back from school to work at the bakery. I saved small money by three years time and enrolled at the University. I am currently in my final year at the University and still doing the bakery business.

My Business

I bake bread and supply to local store owners and collect the money at the end of every week. I use wheat flour which cost GHS 180 per bag, sugar which cost GHS 220 per bag and margarine which cost GHS 240 per box and some other minor ingredients. Mostly I buy these items on credit and pay at the end of the week with an interest of about 19% on these items. i have to accept it because that's the only choice I have. I pay all the expenses at the end of the week and save part for the business and part for my school. I recently bought a new large oven to support the old one.

Loan Proposal

When this loan is obtained, it would be a blessing to me. I would buy 10 bags of wheat flour which cost $45 per bag. I would also buy 10 bags of sugar which cost $40 per bag and 10 buckets of magerine which also cost $27 per bucket. I would also buy milk and flavour of $25. When this is done I would not buy any good on credit anymore. This will prevent me from paying extra $8 on each credited good. Also if were to be a bank loan, I would have paid 31% interest. All these would come back to add to my income which would lead to a great expansion of my business. Credit to ZIDISHA.

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