Look offshore - Spintex Chemists boss advises indigenous businesses
The Chief Executive Officer (CEO) of Spintex Chemists Limited, Mr Enoch Boateng, has advised indigenous businesses to be globally minded by striving to expand their products and services into foreign markets.
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The strive for global presence should replace the mediocre mentality that has long constrained the expansion plans of many Ghanaian businesses, Mr Boateng told the Daily Graphic in Accra.
With a population of about 27 million, the CEO of the Accra-based pharmaceuticals importing and distribution firm said Ghana should be seen as a small market for the growth aspirations of local businesses, hence the need for a deliberate effort to help expand their presence into neighbouring countries.
He gave the advice after some students of Strategic Leadership at the University of Professional Studies, Accra (UPSA) presented a five-year strategic plan for Spintex Chemists to him in Accra.
The plan is the outcome of a course work in strategic leadership, which required groups of students of the 2017 class to develop strategic plans for selected companies in the country.
The 10-member group, led by Mrs Joyce Attakora, picked the Spintex Chemists, which was founded in 2006 to import and distribute pharmaceutical products in the country and the sub-region at large.
Mrs Attakora was optimistic that the partial or full implementation of the group’s work, a 15-page document, would help the company to meet its group aspirations.
She also commended the CEO for his support and show of interest in the group’s work, right from the start to the formal presentation in June this year.
Other members of the group included Derrick Adu-Darko, Henrietta Mensah, Stephen Mensah, Rebecca Mansah Amedonu, Robert Koomson and Dorcas Quaye. The rest are Martin Amoateng Padi, Denise Antwi and Kimberlyn Aborkumah Graham.
Don’t protect
After receiving the document, Mr Boateng said his outfit was impressed about some of the recommendations, and would find ways to merge them into the company’s own plans to help solidify its operations.
“I will look into it in detail but the bits, and pieces that I have seen show that it is good. We are in a turbulent sector; things change fast, and so the conclusions you arrive at today that seem workable may not work tomorrow but we will look into it and see how we can apply what is applicable to our business,” he said.
As a young company striving to make an impact, Mr Boateng said Spintex Chemists was concerned about building capacity to be able to operate in foreign markets rather than limiting its strengths and potentials to Ghana alone.
That mindset, he said, could only be realised if a more friendly business environment where cost of production and bureaucracies were minimal was created to help inspire growth of local entrepreneurship.
Instead of pushing for protectionism, Mr Boateng said indigenous entrepreneurs should rather call for a competitive business environment that can help support their growth.
“We need to be globally competitive; it should be such that with or without government support, we the indigenous businesses can still function properly,” he said, explaining that a protectionism mentality was rather inimical to the growth of indigenous businesses.
“If Ghana closes its market to others to be able to build its own and other countries also do same, where will those looking to expand to foreign markets go to?” he asked.
“For me, the focus should not be to block or protect but to enhance the business environment and working conditions to make it competitive for us the locals. We have issues with taxes, cost of credit and other challenges and these are the things the government should address for us, not to protect,” he said.