Chief Executive Officer of EDC Investments Ltd, Dr. Paul Mante, has challenged the notion that huge capital is the most important requirement for starting a business, insisting that credibility and strong networks matter more than money.
Speaking during the questions and answers segment at the Beginning the Year Right Series 2026 Conference held at the Mövenpick Ambassador Hotel in Accra, Dr. Mante told participants that many people delay starting businesses because they believe they lack resources, when in reality, what they need most is trust.
“You don’t know anything to start a business; what you really need is networking,” he stated.
To illustrate his point, Dr. Mante shared a personal example involving his wife’s entrepreneurial journey.
He explained that her business began not with capital, but with trust built through relationships.
“My wife runs a business. Someone held her hand, helped her to start and introduced her as a sibling. She was given some items to sell, with the agreement that she would sell and come back to pay,” he recounted.
According to him, she stayed committed and trustworthy, paying back consistently until she was able to grow the business independently. Over time, he said, her credibility opened doors to international trade.
“She did that up to a point where she started travelling to China, Turkey and other places to source her goods,” he added.
Dr. Mante stressed that honesty is a non-negotiable foundation for entrepreneurship, warning that a lack of truthfulness is the downfall of many businesses.
“The most important way to start a business is your credibility and your network. When you say something, be truthful. Some people don’t like to speak the truth, and that is where the problem comes from,” he said.
On the issue of funding, Dr. Mante advised aspiring entrepreneurs to start small, even if their long-term vision is big.
“Some businesses require small capital, and even when capital is needed, my recommendation is start small but think big,” he said. “Who will give you a huge amount of money to start a dream? It is better to start small and grow.”
The session formed part of the Beginning the Year Right Series 2026 Conference, which brought together professionals, entrepreneurs and young people seeking practical guidance on personal growth and financial decision-making for the year ahead.
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