Bolgatanga, Aug. 9, GNA - The University for Development (UDS) Studies Alumni, at the weekend organised an entrepreneurship seminar for its alumni and the general public in Bolgatanga. The Upper East Region Chapter President of the group, Mr. Mike Zuri, said the event sought to equip the participants with skills and knowledge in entrepreneurship to empower them to establish their own businesses instead of relying on government for white colour jobs. He noted that the Region was endowed with enormous potentials but the major problem confronting the people was the lack of entrepreneurship skills to exploit these benefits. Mr Zuri said the participants were expected to put to practice knowledge acquired at the seminar in their communities. He announced that plans were far advanced to establish a credit scheme to give loans to members to undertake viable economic ventures. Mr Zuri said: 93This is just the beginning. The alumni will continue to organise such seminars annually and organise extra classes for pupils and students in the Region to help address the fallen standards of education.''

Taking the participants through the topic 94 Principles of Entrepreneurship,'' the Head of the Marketing Department of the Bolgatanga Polytechnic, Mr. Christopher Akaligun, observed that some businessmen and businesswomen did not conduct research into the type of business to undertake.

He said some people rushed to the bank for loans without studying the trends and the profit margins of businesses and eventually ran at a loss and others also dipped their hands into sales to solve all manner of problems, leading to the collapse of their businesses. Mr. Benjamin Anyanah, Chief Executive Officer of Benson Pharmacy, who spoke on 94Practical Aspect of Entrepreneurship'', said strategic planning was important to every successful business. He asked businessmen and businesswomen to keep proper records and attend seminars and courses on business, and build stronger relationships with their business partners. Mr. Edward Nabil, a lecturer at the Bolgatanga Polytechnic and Chairman of the committee for the UDS alumni seminar, asked the participants to put into practice the knowledge acquired at the seminar.