7 Reasons to Start a Small business in Ghana now

ghana business

Owning a business is a part of the Ghanaian dream. The Ghanaian society has big respect for successful business owners. The surprising thing is that most Ghanaian parents do not encourage their children to go into business. They rather prefer their children being doctors and lawyers.

The new Ghana needs smart businessmen and women who are practical to solve the country’s problems. The modern world is built around commerce but every great thing has a beginning. Here are 7 reasons to start your small business now.

Business excitement

Small businesses in Ghana are exciting to own. Every small business has its ups and downs and as a new owner goes through these ups and downs, the owners get excited when they discover a major breakthrough.

Small Businesses Provide Employment to Others

Your small business will not only put food on your table but would also feed the family of your employee. One small business means one less unemployed Ghanaian.

Tax Advantage

Most small businesses in Ghana are not burdened with tax as compared with the formal sector. The point here is you can make lots of money here compared to your salaried job.

Service to the Community

Your small business is there to serve the community and make the community a better place. Every small business is there to satisfy the community in an extraordinary way. The owners of small business feel accomplished when their business are able to meet this basic goal.

Financial Lessons

Small businesses are practical avenues to learn to learn financial lessons like investments, savings and management. When you start your small business you will learn and master these disciplines.

Stable Source of Income

Your small business will give you a stable source of revenue which could serve as another source of income to supplement your main income source.

Future Prospects

Every small business in Ghana has an incubation period of 5 years and after those years your business can stand the toughest times in the country. After 5 years you will be a master of this business. If you can go through the 12 months annual business cycle 5 consecutive times, then your children’s children will live to see what you started.

Get excited think about a business make that investment, Ghana is waiting to see your business.

 

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6 thoughts on “7 Reasons to Start a Small business in Ghana now

  1. Not a bad attempt at encouraging entrepreneurship nonetheless am not that comfortable with the mindset that a small business is got to be second to your main source of income. Look around examples like Facebook and on and on and you will realize the only reason they made it big as entrepreneurs was because their enterprise was the main thing… nothing else. Its the only way you will be driven to succeed. Entrepreneurship is not a spare job. our enterprises are real careers

    Liked by 1 person

  2. Kofi, welcome to the group of young men who have Ghana at heart. I am very sure we can make it in Ghana, but most of your suggestion are speculative. I will be glad if you can give us a good reason to act on your article. I have started something though but you need more than what you have put up there.

    Liked by 1 person

    1. Wow Karlmax1 thanks for believing in Ghana. Sorry if the article was not was not exhaustive I usually don’t like writing tall articles which will bore most people at the end of the day. I’m an industry player in the microfinance sector and I believe my subsequent posts will help you. We are the new generation of transformational Ghanaians.

      Like

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