University degree not needed to create business; ideas needed – LEC Group

The founder of the LEC Group, Mr. Albert Prempeh Kusi, has challenged university students and young people to start businesses while still in school, rather than waiting until after graduation to think about what business to establish.

He emphasized that a university degree is not necessary to start and run a business; rather, having an idea and putting it into action is key.

Mr. Kusi made these remarks at the Simon Diedong Dombo University of Business and Integrated Development Studies (SDD UBIDS) in Wa during the National Youth Mentorship Summit held over the weekend.

He stressed the importance of a positive mindset among university students and young people towards setting up businesses that address the problems in their immediate environments, instead of waiting to obtain a degree.

“All you need is a mindset; all you need is to identify a problem. As I walk here, I see many problems around me. It is all about solving problems; you don’t need a degree to solve a problem. You may need resources,” he said.

He urged students and young people to think beyond acquiring university degrees and leverage their education to identify and propose solutions to societal problems.

“If someone can start a business without a university degree, then you, with a degree, should be doing much more because you are learning a lot. So, a university degree must only help you achieve more than those without the degree,” he stated.

Mr. Kusi, who is also a business and investment consultant, advised young people to master the three M’s of money: making, managing, and multiplying money.

He explained that creating wealth involves honestly making money, prudently managing it, and wisely investing it to enable growth and multiplication.

“We need to train young people to understand how to make money, equip them with the skills to manage it, and, more importantly, move from managing to multiplying money,” he said.

As a conference host and life coach, Mr. Kusi encouraged young people to build strategic partnerships and relationships that would stand the test of time, rather than seeking immediate returns.

He emphasized the importance of looking into the future for greater possibilities and benefits while also considering what they can offer in a relationship.

“If we met today and you are interested in a 200 Ghana cedis support, you might miss the opportunity. However, this relationship you start now may grow to where the person becomes your business partner, offers you a job, or recommends you for a scholarship,” he explained.

The National Youth Mentorship Summit, according to the LEC Group founder, aimed to inspire young people to begin, sustain, and grow their businesses amidst growing concerns of graduate unemployment and youth poverty.

Some participants at the summit shared their motivation to pursue their entrepreneurial potentials and start their own businesses.

“I came to this program as an aspiring entrepreneur. I was motivated and inspired by the speakers, who taught us how to start and run a business, manage team members, employees, and other people. I believe that by putting these teachings into practice, I will become the entrepreneur I have always dreamt of being,” said Bushiran Ibrahim Witol, a participant.

“At today’s summit, I learned about building relationships and that we shouldn’t be interested in short-term benefits but should look ahead to prolong the relationships we make,” remarked Francisca Dassah, another participant.

The summit was organized by the LEC Group with support from Eco Bank Ghana, Malta Guinness, African Skills Hub, and Bel Aqua, under the theme “Fostering Entrepreneurial Mindset.”