President of the Canada Ghana Chamber of Commerce (CANCHAM), Alexander Nortey, is calling on businesses that are struggling to pursue diversification and look for alternative sources of credit.

According to him, businesses must adopt drastic measures in these times to maintain their operations.

He was speaking at the chamber’s end-of-year dinner and awards celebration.

The Canada Ghana Chamber of Commerce end of year dinner and awards celebration sought to recognise members who are contributing significantly to the growth of the chamber.

Some of the awards included the members in good standing award, leadership achievement award, and best CANCHAM member award.

Delivering his address, President of the Chamber, Alexander Nortey, urged businesses to pursue diversification and put in place stringent measures to ensure continuity of their businesses.

“Businesses that are struggling currently. They need to look at diversification, monitoring sales and looking for an alternative source of credit”.

“It is very important and if you borrow irresponsibly, you will pay dearly and you also need to streamline your activities”, he said.

The Canadian Trade Commissioner to Ghana, Andrew Mahara, said there are plans in place to deepen the trade relations between both countries for a mutually beneficial partnership come 2024.

He also entreated businesses to uphold the principles on which their businesses were built to steer them towards growth.