Some Great Small Businesses You Can Start To Make Money in Ghana

Recently the government of Ghana launched a program called "the Year of Return" which encouraged African-Americans and all Africans in the Diaspora to take a trip back to Ghana and have an experience of how it feels to be "home". Following the massive success of this event, the president has launched a continuation of this program and dubbed it "Beyond the return". Whiles waiting to see how this initiative will work out, I decided to update a previous article I wrote outlining some of the opportunities that can be taken advantage of by Ghanaians and diasporans to reflect "beyond the year of return".

 You see, our country Ghana, is blessed with many things but we are still poor. This is because, we have failed to take advantage of the good things nature has blessed this country with. Aside the failure on the part of our leaders, we also choose to pray to for money instead of working for it. There are many businesses that can bring revenue to you and at the same time change the life of the ordinary Ghanaian. Europeans, Lebanese, Chinese and Indians have seen the opportunities in this country and they are using it to their advantage whiles Ghanaians and Africans in general are sitting, watching and complaining about the government. Below are some businesses that well-to-do Ghanaians and Africans in the diaspora can start to make income and help the Ghanaian economy. Lets not sit and watch whiles strangers take over our land. Lets go !!

1. Computer and Data Management Services

Africa is catching on with the rest of the world with respect to internet technology. If you are technologically inclined, you can setup shop in Ghana and start offering e-services to clients. Example of such e-services include Web designing and development, App development, Digital marketing services, Bulk SMS services, Online registration of exams such as WAEC, SAT, TOEFL, etc. My friend at thianotech is already taking advantage of this.

2. Livestock Farming

Livestock farming is a booming business in Ghana  and the trend is not dying anytime soon. With almost 30 million mouths to feed daily, there will always be demand for livestock products. However, lack of technical know-how and the use of old fashioned equipment are the major factors hampering the growth of this industry. If you can come in with adequate knowledge and the patience to nurture this business, you will reap immensely. Now you can choose to either venture into livestock breeding of animals or better still, you can stick to livestock feed production or equipment retailing.
◦Poultry farming – Egg production, meat production, hatchery or day-old-chicks production, etc.
◦Cattle Farming – Diary (milk) production, beef, etc.

◦Goat Farming
◦Sheep
◦Fish Farming
◦Piggery
◦Snail Farming

 

 

3. Agro-products exportation

Ghana is blessed with a lot of food and natural resources; and most of these natural resources are raw materials needed for the production of some finished products. Every day, tons of raw materials and food products leave the shores of Ghana to countries such as India, Vietnam, China, USA, UK, Brazil, etc; yet, the demand is never met. You can become an exporter by simply registering with the Ghana Import and  Export Promotion Council and decide on the specific product you wish to export. Examples of products highly in demand are Chili pepper, Kola nuts, Bitter Kola, Gari(we not the only ones eating Gob3, haha), Cocoa, Groundnut, Yam, Cashew nuts, Tomatoes etc.

4. Mining

Ghana  is blessed with a lot of mineral resources like Gold, Diamond, Iron ore, Bauxite, etc. Aside this, the mining industry in Ghana is set to take off because the government in 2013 implemented the Local Content Policy to favor Ghanaians in the mining and oil sector. This act I believe, will spur the growth in the mining sector. If you have the financial capacity and a team, you can position yourself in this sector. Don't let neocolonialists take us over.

5. Setting up Small Private refinery

There are lots of business opportunities in the oil and gas sector. Building a private refinery and refining crude oil is another business you should look into because there is a lot of potential in it. It is a known fact that most of petroleum products consumed in Ghana are imported. Since there is no more petrol subsidy in Ghana, this business will be a very profitable one.Just make little research about it if you have ample capital.

6. Establish a Television and Radio Broadcast Station

 I see an opportunity for entrepreneurs and investors with interest and competence in broadcasting or mass media. You can either choose to setup a radio station or TV Station. But not in the main cities such as Accra, Kumasi and Takoradi. Those cities are already saturated (not the chemical saturation) with TV and Radio stations.Instead, you can establish some at the Eastern, Northern and Volta parts of the country since they don't have may private TV stations of their own. You can become rich with this.

7. Set up a security company

There is a huge demand for excellent security services in Ghana. As the government battle to improve the security situation in the country, individuals and corporate entities are now becoming aware of the fact that security is not the responsibility of the government alone; it is a collective responsibility. Hence, the current increase in demand for security guards, bodyguards, executive protection professionals and security gadgets or devices. We have all seen how the Upper East Regional Chairman of NPP, Adams Mahama was killed.And how security at Ghanaian universities is so loose. More security is going to be needed by the schools and politicians. As an entrepreneur or investor, you can setup a security guard recruitment or training company, or you can setup a bodyguard agency. Also, you can import and sell security products and safety devices such as security cameras, bullet proofs etc.

8. Construction company

Ghana is still a developing country especially in the area of infrastructure but this is set to change in the nearest future. Massive constructions are currently on-going in Ghana ranging from bridges, roads, towers and skyscrapers, etc. If you are a rich Ghanaian overseas, or you have the financial capacity to assemble the needed team and machinery for a construction company; then this is a business you should invest in.

9. Real Estate development

I have met a lot of individuals with money piling up in the bank, but they don’t seem to know what to do with that money. Yet I hear stories of people facing accommodation problems; not because they can’t afford it but because there is none within their choice of location. Also, I hear woeful stories from students in various universities and other high institutions who live under harsh conditions; not because they want to or can’t afford a comfortable place to live; but because there is no conducive apartment in close proximity to the institutions.Kwame Nkrumah University of science and Technology (My own school) and Garden City University are prime examples.

I also know the stress, effort and resources it took me before I got a place for an internet cafe business for my brother at Bantama, Kumasi. What these facts or complaints are pointing to is that there is a massive need for buildings, both residential and commercial. It is a known fact that shelter is one of the basic needs of man. Now for those who wouldn’t want to go through the ups and downs of running a business, you can choose to invest in development of hotels, school hostels for students, shopping malls, residential apartments, etc.

10. Importation and exportation of wears

Clothing is another basic need of man. Regardless of the economy, people must wear clothes and this includes shoes, bags, underwear, perfumes, etc. Now there is a fast growing trend now and that is “Used clothes” or “Recycled clothes" also known locally as "Fos" Since the economy is getting tougher and there’s need to be clothed, the masses have resolved to buying used clothes rather than new ones. Still yet, there is a market for new clothes; for men, women, and kids. You can source your materials from China, Hong Kong, Italy, France, Dubai, India, etc. Also, there is a huge demand for African wears outside Africa mainly by Africans living in North America and Europe. If you can export and market African wears and textiles to these regions, you are going to be in for a lot of profit.

11. Daycare centers

The demand for quality childcare service is increasing daily. Parents are now working harder just to generate enough income to keep the family going, thus leaving them with less time for the children. Now to be honest with you, there are a lot of daycare centers existing but only a few are providing exceptional services; and parents that cherish their kids are never comfortable leaving their kids in a child care centre whose environment is dirty. If you can come in with exceptional service and creativity, you will make money from this business. Another thing you must know is that you can start this business from home.

13. Training centers

Every year, millions of people sit for examinations and tests in Ghana and most of these people usually need some kind of training or tutorials. More to the point is the recent introduction of double-track system in the Ghanaian second cycle institutions which makes high school students spend a lot of time at home during the times that their counterpart tracks are in school. You can position yourself as a provider of tutorial classes and training. Other training you can offer include tutorial for individuals writing professional and aptitude exams like WAEC, ACT,SAT, BECE, GRE etc.

14. Waste Management

Waste management is another business with a future potential because Ghanaians are yet to imbibe the habit of proper waste disposal. However, companies like Zoomlion have been doing a lot to encourage proper waste disposal and management. Now there are several businesses you can start within the waste management niche and these include waste recycling, waste disposal, junk hauling, organic fertilizer production, etc. It is also possible get into the waste-to-energy conversion business which does not only make you money but also have a good social and environmental impact.

15. Food processing

Another profitable industry to consider is the food processing industry. The concept of this industry is simply to take raw food materials and turn them into finished products. In fact, there are a lot of businesses you can do in this niche and examples of such businesses include Tomato puree production, Gari Processing, oil palm processing, groundnut processing, Fruit juice production, Rice milling, Beverage production. The government has ventured into this field itself recently under the One district-one factory program with the introduction of Ekumfi Juice which is currently making waves in the Ghanaian market.

 

 

16. Alternative Power For Dumsor

As the world goes green, and Ghana battles her power supply challenges; we all know what Dumsor is.. Even though the government has taken steps to deregulate the power sector by granting licenses for Independent Power Plants, and commissioning several power projects, this will never hamper the growing demand for alternative power generators such as solar panels, wind mills, inverters, etc. You can either make money by importing and retailing these materials or you can choose to focus on installations.

17. Plantation Farming

Do you have a fertile vacant land and you know that you won’t be developing any structure on it in the nearest future? Then why not start a livestock farming, crop cultivation or plantation farming. There are a lot of cash crops you can plant, nurture and forget; and they will keep providing you with steady returns annually. Examples of crops you can start a plantation around are Orange, Plantain, Kola nut, Oil palm, Cocoa, Cassava, Yam, etc. The agric sector in Ghana is badly neglected due to some prejudice towards farming. Farming should be done by all of us not only those at the village. This will help our motherland.

18. Manufacturing

You can also venture into small scale manufacturing of products that are in daily need. You don’t need to build a factory or industrial plant; you can start on a small scale from your room or a rented store or apartment. Products you can start manufacturing include Toothpick, Tissue paper, Serviette, chalk production, candle, Match sticks, nylons and polythene bags, cartons, paper bags, etc.

In conclusion, with some little bit of effort and capital, there are a whole lot of interesting and profitable businesses you can start in Ghana which will not only increase your financial stability, but will also benefit our people as a whole. In subsequent articles, we will discuss how to start each one of these businesses one-by-one.