Chairman of the McDan Group of companies, Dr Daniel McKorley, has entreated young entrepreneurs and startups to develop valuable solutions to attract the needed funding support to propel their business.

Speaking in an interview with GhanaWeb Business on the sidelines of the third Zongo Startup Summit held in Accra, McDan pointed that the management of financial resources cannot be done by all entrepreneurs – a situation which has culminated in the collapse of many startups.

He therefore advised entrepreneurs to take key principles and advantage of small beginnings to leapfrog their businesses, while having the right attitude to enhance their chances of securing the needed funding.

“Everybody wants money to start their businesses but it's not everybody who can manage money properly but you have to start from somewhere. Some of us have taken the lead to support the youth but I just won’t give you money because you need money…I will give you money because I have seen something valuable in you and that business,” he told GhanaWeb Business.

“When it comes to me, your business takes less than your attitude, so I invest in people instead of investing in business. Some people can have the best business ideas but they will not have what it takes to managing that business,” McDan explained.

Touching on the development and growth of the Zongo community in Ghana, Dr McKorley was optimistic that change was evident in these communities while urging the youth to position themselves to take full advantage of opportunities abound to change the narrative.

“To tell you the truth, the Zongo community is witnessing some change through education. Right now, every Zongo youth wants to be educated and this sends a positive signal for the next generation of youth from the Zongo who are poised to change the narrative about them”.

He also called on Chiefs, leaders and stakeholders to continue to champion the needed reforms to enhance development in the Zongo community.

The 2023 edition of the Zongo Startup Summit was aimed at offering creative geniuses, entrepreneurs and startups the opportunity to showcase their groundbreaking ideas that promise to empower, connect, and transform the Zongo community.

The summit was organised by the ZongoVation Hub in partnership with the National Entrepreneurship and Innovation Programme (NEIP) with the support of the World Bank Africa and the Ministry of Finance.

Dr. Mohammed Amin Adam, Minister of State at the Finance Ministry was a Special Guest at the summit while Dr. Daniel McKorley delivered the keynote address.

MA/NOQ