The fast economic growth of Ghana has resulted to the many business opportunities in the country. Are you a Ghanaian greatly interested in investing in something that will make you earn quite a huge amount of money within a short duration? Well, you are very lucky because Ghana has a friendly as well a conducive environment of doing businesses. There are many investments opportunity in Ghana and once done in the right ways, they really pay off.
This article will share with you the lucrative investments that you can explore and succeed. Note that a potential businessperson must be a risk taker and be packed with patience to succeed. Read on and we hope that you will find an appealing business idea and opportunity to invest in. Below are some of the best investment opportunities in Ghana in 2019.
1. Farming & agriculture businesses opportunities
Everybody requires food to survive; it is a basic need making it one of the most profitable business ideas in Ghana. Whether the prices are high or low, the demand for food will forever be there and this means you will surely make good returns if you invest in it. Think about the daily increase of population in the country brought about by the many tourists, students from foreign countries, and the influx of investors; it is a big evidence that you are likely to make profits.
What type of agricultural and farming business do you want venture in? Well, you can do small-scale farming of cash crops, food crops, livestock keeping or poultry farming. The main thing to do before you commence in this business is to conduct a good research on it. This is because nobody wants to make loses or invest in something that will require more capital than you planned. Conduct the research, be patient and we assure you of success as far as you are determined. Agricultural produce will never rid you wrong for they are always at a great sought-after in Ghana. For instance, you can try greenhouse farming and tap this business opportunity.
2. Online investment companies in Ghana
There is nothing better than working online at the comfort of your home. What you need is a little knowledge on how on to successfully earn from online investment companies in Ghana. For instance, you can do mutual funds, forex trading, or go for bitcoin online investment in Ghana. In mutual funds, you invest your money in various securities. When the share prices increases, then you will definitely earn profit. It is vital that you do more research on mutual funds so that you can also learn on the restrictions, the types, benefits, as well as disadvantages.
How does forex-trading work? Well, forex trading has proved to be an online job that pays a huge check if properly done. You will have to invest your money on the trading and if you have less idea on how it works, it is always advisable that you work close with a guru broker in this sector. If you are lucky enough, the broker can help you out with the trading process for free or at a small fee. Do more research on the forex trading as well as the bitcoin business; we bet that you will never have a moment of regret.
3. ICT business ideas in Ghana
Ghanaians in this modernized and digitized generation will forever have cravings for a fast internet service. You can open up a cyber and install a high quality internet in a busy town and we bet you will make cool money from it. You can also employ like 2 people to install WIFI for interested Ghanaians at their homes or offices and you will add up your earnings. All you have to make sure is that the quality of the internet services you are offering are of high quality.
4. Telecommunication business ideas in Ghana
A Ghanaian tech savvy can greatly earn returns by investing in the telecommunication business opportunity. If you are sure that you can offer competitive as well as reliable data services, then you are good to go because every Ghanaian is in search of such of amazing network. Honestly, almost every Ghanaian owns a mobile phone and the only untapped opportunity is a stable network.
Yes, some of networks in Ghana are good, but if you offer the best then you will be more than successful. The only turn back to this business opportunity is the capital required. The capital needed is quite high, but you can loan from a trusted institution to add up to your current amount. As a potential investor, you should be patient, determined, and above all, believe in yourself. You can even gather a group of your trusted friends and make the dream that seems a fairy tale true.
5. Real estate investment opportunities in Ghana
As a potential entrepreneur, you should always invest in underutilized business opportunities in Ghana. Real estate is among the top untapped opportunities having in mind the commercial as well as residential sought-after in Ghana. The demand for housing is mostly in urban areas such as Accra. It is majorly caused by the migration of influx Ghanaians from rural in search of jobs, studying, or other major personal reasons. We bet that there is no investor who can regret doing real estate business in Ghana.
You can decide to invest in apartment complex, housing estate, office complex, or residential villa. The business requires a huge check for capital, but all in all it is worth it; it is a long-term investment. Everyone needs a spacious room and therefore that is what you should consider; note that one man said that cheap is expensive. Any Ghanaian will be willing to pay that amount you want for the building as far as the construction is worth it. Real estate gives you a guarantee of paying some of your long list bills per month. You can even make it your only business if you fully dedicate into it.
READ ALSO: Best Investment Banks in Ghana 2018
6. Oil & Gas business opportunities in Ghana
Oil and gas is another untapped business opportunity in Ghana and it needs you to take it to another level. We all can admit that oil and gas business sector in the country is still young. Now that oil was discovered in Ghana, it is time to make the country be among the list of petroleum exporters. You can just imagine the huge profits that you will make if you invest in this kind of business opportunity. The capital will be quite high, but the returns are worth it.
Where do you commence? Well, conduct a good research about the business so that you can be able to approximate the amount of capital as well as equipment required. You can conduct the research through the internet, magazines, or go to an extent of getting a word from an oil and gas entrepreneur. If you have what it takes, there is no reason why you should deny yourself from being successful. All you need is patience and conduct everything step by step; systematically. This business will require both unskilled labor and therefore try to make the niche perfect to avoid huge losses.
7. Financial services business in Ghana
We must admit that the Ghana financial services have undergone a tremendous improvement resulting to its current growth of the economy. There are quite a number of investment banks in Ghana such as Sovereign bank, Capital bank, Stanbic bank, Unibank, as well as Omni Bank. Most of them are popular for offering a specific percentage interest based on the agreement of the bank and the client. Others offer loans at a low interest, but it is still not enough. A little bit of creativity is what you require to get more ideas that will thrill the financial services in Ghana more. If you are a business-minded Ghanaian, then you will be able to spot the ideas’ foreigners have also invested in quite a number of financial business in the country.
For instance, you can go for microfinance business idea for it will forever be a sought-after for the Ghanaians. Most of the people who succeed in this type of business idea have a background in banking, microfinance to be precise. This means that if you have a background in it, you should go for it and start molding your success. The amusing bit is that you can also lend a hand to those small businesses developing at an agreed charge.
8. Tourism best investments in Ghana
Tourism is one of the profitable business ideas in Ghana for the country is a major hast for foreigners. Ghana has a beautiful scenery and therefore the tourist sites have a long list. You can purchase tour cars that will enable the tourists to travel around the country. The good bit is that the foreigners can easily launch it. We assure that it is a long-term business that will earn you huge profits that you are even expecting.
The capital for doing this kind of business idea is high, but worth it. You can never make loses because you can also sell the eggs of the wild birds locally or internationally. Note that the wild birds require extra labor and care.
9. Transportation services for investors in Ghana
Transport services are a major necessity in a country as Ghanaians must move from one place to another. Honestly, not every Ghanaian owns a private car and in fact, the biggest percentage require the transport service as they go one with their daily activities. Are you still looking for ways on how to make money in Ghana? If yes, you can never go wrong with this option. Transport service by road is the simple business in Ghana for all you need is capital to purchase the public car, a driver, and permission from the government. In no time, you have made the returns from your investment.
Transportation services by air, water, and rail are very expensive turning back many Ghanaian investors in the transport sector. If you have what it takes, then seek permission from the government and invest in it. What you need is to go for a busy route to make more profit. A potential entrepreneur should have a character of believing in himself or herself. This because if you don’t do it, who else will exploit the business sector? Risk to make it and always be positive.
10. Herbal medicine small scale business ideas in Ghana
Herbal Medicines are now at a great demand for most Ghanaians that are aware that they can be able to treat, cure, as well as prevent ailments. The sought-after had made it a business opportunity for business minded Ghanaians idea. For you to be able to compete with the orthodox medicines in the country, you have to be good in marketing. The good bit is that you can get most if not all herbal plants in the country making it easier for you. Right?
Another vital news for you is that you are likely to make quick returns with this business idea. This is because the herbal medicines are cheaper compared to the orthodox medicines making most Ghanaians to prefer buying them. This clearly states that the capital for commencing this business is not that high especially on a small scale.
What you need is to conduct a research for the herbal medicine business idea either on internet, from successful herbalists in Ghana, or on magazine. The research will give you the approximate capital required and other vital information concerning the herbal medicine business. It is always advisable to borrow tips from successful herbalist so that they can explain to you the advantages and disadvantages of the business in a more clear as well as experienced way.
READ ALSO: Best investment companies in Ghana
11. Waste management small business opportunities in Ghana
Waste management companies in Ghana are many, but they get challenges to handle the waste as well as refuse in the country. Waste and refuse give a bad picture of a country and it is greatly bad to see a Ghanaian throwing them away in a drainage. If you take advantage of that habit, you can make them learn how to handle the refuse and waste, you will make huge profits out of it. This is because it is a burden not only in Ghana but most African countries are battling with it.
Tips on how to start a business and succeed
Investment opportunities in Ghana for a small or a large-scale business will require the tips below to give you success that you have always yearned for.
- Have a business plan for your business
A business plan will include the name, the location, the cash-flow analysis, labor required, as well as the capital. In simple words, once you write a well arranged business plan for your idea, you will definitely succeed.
- Address the excuses
Never allow excuses running in your head to control you. In fact, excuses are the major reason why many potential entrepreneurs never accomplish their dream. Some fear making loses and others fear being responsible. Try to be positive, think of the end success, how happy you will be once you become your own boss. Be a risk taker and face the business opportunity. Those excuses will only slow down your success for they will make not to achieve your objectives in life. The best thing you can do is to try as much as you can to get rid of the excuses by finding a good solution to them.
- Have a break-even analysis of the expected profits
Why are you investing in this business? Well, the major reason is to make cool profits. The business will definitely have expenses depending on the idea from rent to employee’s salary. What you need to do is to approximate the number of days, weeks, or months you will start making returns with your business.
- Always start small
You don’t have to make your business to run before it walks, start small. Yes, you have to dream big for your business, but at least start small to avoid much expenses that might hinder you from achieving your end goal. It is always advisable to start with your own cash because you can’t make an appropriate estimation on when the business will start paying you back. Loans are a big savior to potential entrepreneurs, but short duration business loans can fledge your business operations for being around your neck.
- Hire professional employees and have a good relationship with them
Kindly do not go for independent contractors, but go for the full time employees. This is because they will understand the goals of the business and you will all work together to achieve it.