Why Choose Ghana for Doing Business?

Ghana is becoming a more appealing investment destination. It has a higher GDP, a more stable political environment, and a more efficient start-up and management process. Ghana was in a recession just three decades back, on the verge of a major economic slowdown. The West African nation has made a remarkable comeback and will have the world's fastest-growing economy in 2019.

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Ghana Economy

Since 2017, Ghana has seen average yearly economic growth of 7%, making it one of the world's fastest-growing economies. The economy is a combination of private and public companies. About three-fifths of GDP comes from the services sector, roughly one-fifth from agriculture, and one-fourth from the industry. Offshore seas of Ghana are rich in fish, adding another key supply of fish to the domestic market with its formation of Lake Volta.

Ghana's government would mobilize efforts to create an enterprising atmosphere that would allow young people to develop innovative ideas which may lead to the creation of lucrative enterprises. Because business promotes young people, they are put to work, dignified and, finally, strengthened by Ghana and Africa.

Related project:- Small Business Ideas & Project Opportunities

Reasons To Venture Business in Ghana

1. Governance

The ever-increasing acceptance of democracy as the preferred style of governance across all Ghanaian institutions is the key to understanding the country's political stability. Local and international businesspeople are allowed to learn about, accept, dispute, and even suggest methods to improve the state's standards that control both public and private firms through the proper channels. The Ghana Investment Promotion Center (GIPC) continues to advocate for legislation that would attract and safeguard both domestic and foreign investors.

2. Media Activities

Since the 1990s, Ghana's media, which is regarded as one of the freest in Africa, has played an increasingly important role in business. A growing number of lively television/radio stations and publications engage both local and international audiences in conversations on all elements of the country. The internet has added to the media's tremendous effect on businesses in Ghana, which is considered a significant center in West Africa for offshore of globally recognized ICT enterprises. It follows that the media in Ghana provides a good platform for businesses to thrive, especially through advertisement.

3. Increasing the Number of Skilled Workers

With education receiving the majority of the government's annual budget, Ghana's educational institutions continue to increase in both quantity and quality, making the country appealing to tertiary students from around West Africa. This means that firms in Ghana may hire from a vast pool of highly qualified students and graduates who have completed Ghana's educational system.

4. Business-Friendly Environment

Given that the skilled labor force continues to expand fast in Ghana, unemployment is still a big concern in the country. Hence Ghanaian residents greatly respect the value of companies. Most of the new corporations receive a very pleasant welcome.

5. Competitive Business Environment

Businesses normally prosper in a climate where company growth fosters constructive rivalry between new and established companies. Ghana has become a major competitive location for businesses and a good investment destination for many foreign enterprises in Africa through the efforts of both the Ghana Investment Promotion Center (GIPC) and other organizations. Ghana is characterized by accelerated growth in the number of private and public business companies.

Finding the right startup business is one of the most popular subjects today. Starting a business is no easy endeavor, but the time, effort, and challenges can be worth it if you succeed. To give yourself the best chance to be successful, take your time to carefully find the right business for you.

Visit the site for sorting out the questions arising in your mind before starting any business and know which start-up you can plan for at https://www.entrepreneurindia.co/project-identification.

We, at NPCS, endeavor to make business selection a simple and convenient step for any entrepreneur/startup. Our expert team, by capitalizing on its dexterity and decade's long experience in the field, has created a list of profitable ventures for entrepreneurs who wish to diversify or venture. The list so mentioned is updated regularly to give you a regular dose of new emerging opportunities.

Businesses Good for Entrepreneurs in Ghana

· Agribusiness

· Cocoa Business

· Evaporative Milk Business

· Herbal Medicine Business

· Food processing and production

· Caustic soda Business

· Textile Business

· Poultry processing plant

· Biofertilizer

· Bottled water production

· Cattle Farming Business

· Sanitary Napkins Business

· Cosmetics Business

· Disinfectant and Cleaners Business

· Ceramic Tiles Business

· Cement Production

NIIR PROJECT CONSULTANCY SERVICES (NPCS), an ISO 9001:2015 firm is one of the leading reputable names in the industrial world for offering one of the most robust suites of technical consulting services. We at NPCS are committed with zeal and dedication for supporting young entrepreneurs is a great motivation to continue with a business start-up right from offering basic knowledge to technology assessment, procurement, and assimilation of comprehensive project analyses, industry survey studies, and research through our specialized Industrial, Sector and Commercial Databases.

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