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The Chief Executive Officer (CEO) of Turnaround Company Limited, Mr. E. H. Dougan, has lamented the rate at which businesses, in particular, Small and Medium Scale Enterprises (SMEs) fail in Ghana. He want stakeholders to come together and discuss tangible solutions that would save these businesses for the purposes of boosting the country’s economy.
It is based on this observation that he has set up his company to serve as a saviour to SMEs in Ghana.
“We are a business turnaround coaching firm with a focus on Small and Medium Enterprises. The purpose of the company is to help enterprises to succeed and survive,” he stated. Mr. Dougan was speaking to The New Independent in an exclusive interview in Accra.
According to him, the company’s sole focus is to help resuscitate enterprises that are at maturity but declining stages in life; bringing them back to stability and growth.
He stressed that the company aspires to be the most helpful firm in Ghana and that “we envisage achieving our vision by helping to reduce the rate at which enterprises fail in Ghana. The company want to help rescue enterprises at declining stages. Our rescue mission offers turnaround capacity building, coaching, management and finance to help lower the hazards of mortality faced by enterprises in Ghana,” he stated.
Mr. Dougan who is often described as “The Business Doctor” said his experience in turnaround management is unrivalled in the Ghanaian business circles because he has the expertise in “conceptualizing, designing and offering turnaround strategies” in Ghana.
He said that the company’s capacity building is geared towards helping upgrade knowledge, skills and capabilities of professionals to turn around fortunes of SMEs.
He announced that the content of the capacity building is to help participants learn of the turnaround management toolkits for identifying symptoms and causes of decline in business performance, assessing viability of the business for turnaround, understanding the appropriate turnaround strategy interventions, writing a turnaround plan and executing turnaround plans, among others.
“We work with pressured management teams of ailing enterprises and support them to go through a turnaround process. Our company does not take charge of the enterprise but provide solutions, information systems and processes that turnaround candidates can follow to develop their own solutions for turning their fortunes around,” he stated.
He disclosed that the company helps enterprises write credible plan to convince stakeholders for support and execution, stating that “We provide hands-on support to candidates during the execution of the plan”.
The turnaround targets at entrepreneurs, SMEs managers, bankers, lenders, equity investors, venture capitalists, consultants, business advisors and professionals with the desire to pursue careers in turnaround fields.
Source: Lovelace Opoku-Agyemang || The New Independent