Vice President John Dramani Mahama has criticized the sole proprietorship mentality of Ghanaian business owners. He says the culture, very typical of local entrepreneurs, does not help for the development of small and medium-sized enterprises into multi-nationals. The Vice President who was speaking in an exclusive interview with Joy Business says local business owners must know when to let go. “A lot of the time people found businesses or their family businesses have grown and when the businesses have grown and are beyond their own capacity to manage, because they want to maintain ownership of the businesses they are not willing to let the business grow beyond a certain point. “They won’t bring in managers who have better capacity than them to manage; they insist on managing it themselves even with the deficiency they have in terms of managerial ability. "Ghanaians are reluctant to list their companies on the stock exchange because they want to own it hundred per cent and call the shots; hire and fire whoever they wanted and all that. “These are some of the business practices we need to change,” he advised. Play the attached audio for excerpts of the interview with the Vice President Source: Joy Business/Myjoyonline.com/Ghana