Whatever type of business you want to operate, starting a business is more than setting up business premises and announcing you are open to clients. There are a number of crucial care elements you ought to pay attention to. To make it big in business, you will need to get everything right from research, legalizing the business, planning to finances. The following article is meant to help the best small scale business in Ghana start and run successful ventures in the economy.
Introduction - Doing business in Ghana
With the proceeds of 2017 still fresh in most entrepreneur’s mind, 2018 is here to present more and better opportunities. Entrepreneurs both starters and experienced are looking to cash in these opportunities and create more wealth for themselves.
If you are an entrepreneur in Ghana the good news is that there are plenty of opportunities to cash in with just the right resources and knowledge. The following is a guide on how to start any business in Ghana.
Starting a business in Ghana- Research
With the wave of things, most people are entertaining the thought of becoming independent businessmen and women. If you are then I’d better suggest to you Ghana as the best country to start and grow your business. Starting a business in Ghana is as easy and straightforward as it gets.
The government of the day has been this process amazingly simple to encourage most entrepreneurs to get into businesses and quit relying on formal employment for their daily livelihood. Before you commence any commitments, do an in-depth research on what you want to do, the registration requirements and markets of your products if you want to guarantee your success.
Easy Registration of business in Ghana
Like with any country in the world, before you set up your business and start being operational, you need first to register your business. Comparing with other countries in Africa and the world at large, Ghana through its legislative laws offers the easiest and most straightforward procedures for registering and formalizing any business. The two important factors that contribute to this include free registration documents.
Whereas in other countries you will be charged for these documents, in Ghana the state provides these documents at no costs whatsoever. Secondly, through the government, information on registration and everything to do with business is free are readily accessible. Thanks to this, entrepreneurs are able to make informed decisions and even prepare better for their business.
Setting up a business in Ghana
The other thing on your list of starting up a business in Ghana 2018 is setting up a business premise. Depending on your business idea you need to choose a business location that is strategic as this will impact directly on your business revenues.
At the same time when choosing a strategic location for your business you need to pay close attention to your costs. While a strategically located business premises may be an ideal place to set your business, its cost might be too high for you to bear thus negatively impacting on your revenues.
License and permits
Business registration is just proof of ownership of a business. In order to do business in Ghana, you will need to apply for licenses and permits for the necessary businesses you are registered for and your location of operations. Just like with registration, applying for your permits and licenses is much easier in Ghana compared to other countries.
Top business ideas in Ghana
Once you have informed yourself on how to start a business in Ghana, the next important step is to have a selling business idea that will see you convert your profits into instant cash.
There are a number of such ideas however some may require way much money that you can possibly afford. However, for small-scale ventures, the following are ideas that best small scale business in Ghana can invest in.
- Home delivery services
- Home Laundry Services
- Graphic designing
- Photo and video editing business
- House Cleaning
- Gym/Personal trainer
- Book Keeper
- Fashion Accessory Business