Franchise operator and investor, Dr. Kobbina Tuyee Awuah, has urged young entrepreneurs to take advantage of funding opportunities such as Richard Nii Armah Quaye’s (RNAQ) Scale-Up Fund.
Speaking on The Career Trail, Joy Learning TV and Joy News’ entrepreneurship program, the CEO of Crown Peak Holdings and builder of brands including Pinkberry, Burger King and Icy Cup in Ghana, said many young entrepreneurs wrongly assume that starting a business requires large amounts of capital, when in reality growth often begins with small resources and the right support system.
“There are a lot of entrepreneurs who didn’t come from privileged backgrounds, but they’ve still been able to do extremely well. It’s about taking your time and grinding it out. You may not be able to raise 200,000 dollars, but you can start with a small amount of money, gradually, you will get there,” he explained.
However, he clarified that while some upcoming entrepreneurs have the skill and ideas to build successful businesses, many genuinely lack the capital to start. He noted that this gap is what makes both formal investors and informal networks of people who believe in early-stage ideas very important in the ecosystem.
He pointed to Richard Nii Armah Quaye as one of the key investors driving that space.
“We are fortunate in Ghana to have a Ghanaian who is one of the biggest angel investors on the continent. He has invested in so many businesses across Ghana and I know he recently launched the Scale-Up Fund. I think people should take advantage of this because I do not know anybody doing it on that scale on this continent,” he said.
He further added that beyond structured funding, many businesses begin through informal support systems where individuals contribute small amounts to help ideas grow.
“There is also informal angel investment, like friends coming together to support you. Someone might say, I believe in your idea, let us pull some funds together,” he noted.
He shared an example of how this model can translate into real business growth.
“I know someone who wanted to start a nail business. She spoke to her friends, they pooled funds together, and that is how she started. Today she has a small shop in East Legon,” he narrated.
According to him, such examples highlight why collaboration is essential for entrepreneurs operating in Africa.
“In this part of the world, you cannot do it alone. You have to bring people on board,” he urged.
