About my childhood and education, I was in Bonwire, a town in the Ashanti Region of Ghana near Ejisu, in Kumasi. Bonwire is known famously because that is where traditional kente cloths are woven. I was raised by a single parent, my mother who was a petty trader. I started my primary education in Bonwire and completed my secondary education at Bonwire Secondary Technical School from 2001 to 2003.
About how I overcame hardships to achieve important goal in my life, my mother was taken care of five children and was very difficult for her. After she managed and helped three of my siblings to completed education, she has no financial strength anymore to support me in my turn. The three first siblings which were already through their education were having problems with employment, and were unable to support my education also. I came up with an idea to support my living. I then started inscribing people’s names in designs on a classic weaving mode using thread similar to the kind used in kente weaving, which was popular called ‘hand weaving bracelets’. This innovative piece help me saved certain amount of money, which then helped me established my own venture.
How I started my own business was a moved to diversify from the earlier bracelets business into Lumber business. Since my initial capital was not enough, I was buying from sawmill the rejected wood which was needed by carpenters, and other wood users and selling them. This made me accrued a capital that was quiet okay to buy the quality type lumber. I then registered a private company with the Ghana’s Registrar General Department.
What is unique about the land and the culture where I am are, there is an available well established market for lumber business. This attracts stake-holders in lumber business to patronize the businesses in general within my geographical region. One unique feature is that, it is also a known international tourism destination which attracts foreigners yearly.
I realized that in my country-Ghana, there are acute problems like job generation and creation and business financing. I will therefore want my children to go into specialized Job Creation and Generation training to help in creating more jobs in my community and the catchment areas. I will also like my children to specialized in Business Financing and Sponsoring.
I was very good in football and was playing it both in my primary and secondary education and from home also.
I buy lumber products from sawmill and resell them to the end users like those in carpentry and wood processing firms. Usually, I buy from affordable price source which makes the marketing of my products easier. My business partners also supply me quality lumber products which makes its sales smooth without difficulty or challenges from the market. My business partners who supply me wood products also guarantees for the products I purchase against spoilage within certain time frame.
These goods or products are useful or in demand because, there are numerous companies and establishments which uses lumber products as their raw materials in their production line. Besides this, individuals and unionized groups also on dairy basis use all kind of lumber products whether in the raw state, processed state or semi-processed form. Exportation of lumber products outside Ghana to other countries is also a booming business and this also makes the demand of lumber products a hot cake in Ghana.
I choose this business because of the following: Firstly, the capital to set up this business according to my specification and needs were favorable. Secondly, the market for me to sell off my products was also readily available. Thirdly, the products sourcing were very accessible and lastly, the issue of transportation was not a problem. I easily get vehicles which transports my products from the factories to the buyers or the market. The durability and lifespan of lumber products that I sell are also a factor that made me choose this business. It takes a longer period of years before it starts to depreciate.
My typical cost and revenue break-down are, purchasing, loading of products, transportation will cost 27,600 Ghana Cedi, and my revenue expectation will be 32,400 Ghana Cedi.
I use my profit these ways, 2,000 Ghana cedi will be re-invested, 400 Ghana Cedi will be used to pay my children term fees, 600 Ghana Cedi will be used in my family health-care, 80 Ghana Cedi will be used to settle rent, Household improvements will take 200 Ghana Cedi, An unforeseen/eventuality expenditure will take 80 Ghana Cedi, Family cost on food 200 Ghana Cedi and 1,240 will be deposited into the Bank’s savings Accounts.
I will buy the following items with the loan:
[1] Lumber: 1,000 pieces of lumber, 2/6 at the cost of USD5, 900 Dollars
[2] ‘’ 200 pieces of lumber, 1/12 at the cost of USD 1,180 Dollars
The benefits that this will create to me and others, among a number of many uncountable benefits are:
[1] It will expand my present capital base to enable me buy more lumber products,
[2] My profit margins will also go up considerably, meaning that my living condition will be improved.
[3] It will help me look for more buying sources which will create business opportunities for the new and old suppliers also. Looking for more buying lumber source will brings competitiveness to the business.
[4] It will also means creating of job opportunities for players in the lumber industries like the transporters, loaders, machine operators, sellers and suppliers.
[5] Whilst my children will now be enjoying quality education, my close relatives also will be gaining some financial support from me in many forms.
[6] On my social responsibilities also, I can support my immediate communities from time to time if the need be.
If it is for a business, my profit will increase from USD 1,412 Dollars to USD 2,118 Dollars
Loan for lumber business
About my childhood and education, I was in Bonwire, a town in the Ashanti Region of Ghana near Ejisu, in Kumasi. Bonwire is known famously because that is where traditional kente cloths are woven. I was raised by a single parent, my mother who was a petty trader. I started my primary education in Bonwire and completed my secondary education at Bonwire Secondary Technical School from 2001 to 2003.
About how I overcame hardships to achieve important goal in my life, my mother was taken care of five children and was very difficult for her. After she managed and helped three of my siblings to completed education, she has no financial strength anymore to support me in my turn. The three first siblings which were already through their education were having problems with employment, and were unable to support my education also. I came up with an idea to support my living. I then started inscribing people’s names in designs on a classic weaving mode using thread similar to the kind used in kente weaving, which was popular called ‘hand weaving bracelets’. This innovative piece help me saved certain amount of money, which then helped me established my own venture.
How I started my own business was a moved to diversify from the earlier bracelets business into Lumber business. Since my initial capital was not enough, I was buying from sawmill the rejected wood which was needed by carpenters, and other wood users and selling them. This made me accrued a capital that was quiet okay to buy the quality type lumber. I then registered a private company with the Ghana’s Registrar General Department.
What is unique about the land and the culture where I am are, there is an available well established market for lumber business. This attracts stake-holders in lumber business to patronize the businesses in general within my geographical region. One unique feature is that, it is also a known international tourism destination which attracts foreigners yearly.
I realized that in my country-Ghana, there are acute problems like job generation and creation and business financing. I will therefore want my children to go into specialized Job Creation and Generation training to help in creating more jobs in my community and the catchment areas. I will also like my children to specialized in Business Financing and Sponsoring.
I was very good in football and was playing it both in my primary and secondary education and from home also.
I buy lumber products from sawmill and resell them to the end users like those in carpentry and wood processing firms. Usually, I buy from affordable price source which makes the marketing of my products easier. My business partners also supply me quality lumber products which makes its sales smooth without difficulty or challenges from the market. My business partners who supply me wood products also guarantees for the products I purchase against spoilage within certain time frame.
These goods or products are useful or in demand because, there are numerous companies and establishments which uses lumber products as their raw materials in their production line. Besides this, individuals and unionized groups also on dairy basis use all kind of lumber products whether in the raw state, processed state or semi-processed form. Exportation of lumber products outside Ghana to other countries is also a booming business and this also makes the demand of lumber products a hot cake in Ghana.
I choose this business because of the following: Firstly, the capital to set up this business according to my specification and needs were favorable. Secondly, the market for me to sell off my products was also readily available. Thirdly, the products sourcing were very accessible and lastly, the issue of transportation was not a problem. I easily get vehicles which transports my products from the factories to the buyers or the market. The durability and lifespan of lumber products that I sell are also a factor that made me choose this business. It takes a longer period of years before it starts to depreciate.
My typical cost and revenue break-down are, purchasing, loading of products, transportation will cost 27,600 Ghana Cedi, and my revenue expectation will be 32,400 Ghana Cedi.
I use my profit these ways, 2,000 Ghana cedi will be re-invested, 400 Ghana Cedi will be used to pay my children term fees, 600 Ghana Cedi will be used in my family health-care, 80 Ghana Cedi will be used to settle rent, Household improvements will take 200 Ghana Cedi, An unforeseen/eventuality expenditure will take 80 Ghana Cedi, Family cost on food 200 Ghana Cedi and 1,240 will be deposited into the Bank’s savings Accounts.
I will buy the following items with the loan:
[1] Lumber: 1,000 pieces of lumber, 2/6 at the cost of USD5, 900 Dollars
[2] ‘’ 200 pieces of lumber, 1/12 at the cost of USD 1,180 Dollars
The benefits that this will create to me and others, among a number of many uncountable benefits are:
[1] It will expand my present capital base to enable me buy more lumber products,
[2] My profit margins will also go up considerably, meaning that my living condition will be improved.
[3] It will help me look for more buying sources which will create business opportunities for the new and old suppliers also. Looking for more buying lumber source will brings competitiveness to the business.
[4] It will also means creating of job opportunities for players in the lumber industries like the transporters, loaders, machine operators, sellers and suppliers.
[5] Whilst my children will now be enjoying quality education, my close relatives also will be gaining some financial support from me in many forms.
[6] On my social responsibilities also, I can support my immediate communities from time to time if the need be.
If it is for a business, my profit will increase from USD 1,412 Dollars to USD 2,118 Dollars