A renowned businessman, Mr. Eric Frimpong, popularly known as I.G.P and a native of Manso Essuowin, has revealed that his greatest inspiration in establishing a hotel and expanding into other business ventures in Ghana came from his mother.
Mr. Frimpong made this disclosure during the commissioning of the second block of the Cener Hill Hotel at Manso Essuowin in the Amansie West District of the Ashanti Region. The colourful ceremony brought together community members, traditional leaders, friends and well-wishers who gathered to celebrate the expansion of the hospitality facility.
Addressing the gathering, Mr. Frimpong paid glowing tribute to his mother, describing her as a strong and outstanding woman whose guidance and encouragement played a pivotal role in shaping his entrepreneurial journey.
“I have done a lot, and my mother has also achieved so much in her own way. We went through several challenges together, but her advice and encouragement helped me to get back on my feet whenever I fell,” he said.
He explained that the life lessons and discipline instilled in him by his mother motivated him to invest in long-term ventures such as hospitality and other businesses that would secure his future and contribute to the development of his hometown and the region at large.
Mr. Frimpong further used the occasion to highlight the urgent need for supportive policies and incentives to promote entrepreneurship, particularly among the youth. According to him, many young people have the passion and innovative ideas to start businesses, but the system does not always provide the necessary support to help them thrive.
“Young people want to start businesses, but the system doesn’t always support them. There should be grants or consumer support schemes to help them establish themselves. Once they succeed, they will contribute significantly to the economy through taxes and by creating employment opportunities,” he stated.
He also identified lack of basic business knowledge as one of the major reasons many enterprises collapse. Mr. Frimpong noted that some entrepreneurs fail to differentiate between capital and profit, often spending their capital as though it were profit, which eventually leads to the downfall of their businesses.
“Some people do not understand basic business concepts such as the difference between capital and profit. They treat capital as profit and spend it, and that is what causes their businesses to collapse,” he explained.
However, he stressed that even individuals with professional business knowledge are not exempt from the challenges within the business environment.
“Even those with professional business acumen face significant hurdles, making it very difficult to expand and sustain their businesses,” he added.
Despite these challenges, Mr. Eric Frimpong expressed pride in the steady growth of Cener Hill Hotel and reaffirmed his commitment to investing in ventures that will create jobs and contribute to socio-economic development in Manso Essuowin and beyond.
