“A Problem Well Defined is Half Solved” – How BYND Technology Helps Ghanaian SMEs Overcome Key Challenges
At BYND Technology, we believe in the power of problem-solving. As John Dewey wisely said:
“A problem properly defined is a problem half solved.”
Research shows that 80% of Ghanaian SMEs fail within their first 5 years—but why? Many collapse because they don’t fully diagnose their challenges. Here are the 8 biggest hurdles (backed by studies) and how we help:
1️⃣ Lack of Access to Finance
📌 High interest rates, no collateral, strict bank rules.
🔍 Solution: We connect SMEs to alternative funding & financial planning tools.
2️⃣ Poor Management Skills
📌 No training in finance, marketing, or strategy.
🔍 Solution: Free a on business fundamentals.
3️⃣ High Taxes & Regulatory Hassles
📌 Multiple levies, slow bureaucracy.
🔍 Solution: Guidance on compliance & tax optimization.
4️⃣ Losing to Cheap Imports & Big Competitors
📌 Can’t compete on price or branding.
🔍 Solution: Help with branding, digital marketing & niche positioning.
5️⃣ Bad Infrastructure (Dumsor, Bad Roads, etc.)
📌 Power cuts, logistics delays kill profits.
🔍 Solution: Tech tools to optimize operations despite challenges.
6️⃣ No Tech or Innovation
📌 Stuck in old-school methods.
🔍 Solution: Affordable digital tools to boost efficiency.
7️⃣ Economic Instability (Inflation, Cedi Woes)
📌 Unpredictable costs hurt planning.
🔍 Solution: Risk-management strategies for volatile times.
8️⃣ Poor Record-Keeping
📌 No books = Cash flow disasters.
🔍 Solution: Simple accounting software & training.
💬 Which of these is YOUR biggest challenge? Comment below or DM us—we’ll help you diagnose and fix it!
#SMESupport #GhanaBusiness #BYNDTechnology #ProblemSolved
