The initial investment of capital is essential for the development and sustainability of any business enterprise.
Due to financial limitations, issues with company continuity, and other urgent concerns, many start-ups in Ghana frequently fail to survive past the two- to three-year mark.
But Violet Amoabeng’s decision to try her hand at creating skincare products ultimately paid off. She claims that she started her company in 2014 with just $45 and that it now generates $200,000 in revenue every year.
Amoabeng recalled that her late uncle gave her the cash boost because her father, a prosperous businessman, refused to give her the money to start.
Amoabeng recounted that she received the capital injection from her late uncle, because her father, who was a successful businessman, would not loan her the money to start.
“My dad would not give me the money to do any business because he believed that if you don’t do business the hard way, you will not be able to survive when you hit hard times and no one will help you.
“I created Skin Gourmet with $45 in 2014 with help from my family (Like, My Uncle Kwame – he passed away, but I wish he could see how grateful I am for just knowing him),” Violet is quoted by face2faceafrica.com.