7 Great Ways To Start A Business In AfricaPosted: September 17, 2015
Thinking about starting a business in Africa? Then it is undeniably a great idea as Africa provides excellent opportunities in the long run, especially in terms of population. According to UNICEF, it has been estimated that in the coming 35 years, population in the continent will rise by 1.8 billion. The prospects and opportunities for business expansion will keep increasing as several of the fastest growing economies in the world are in the continent.
Here we are listing 7 lucrative business opportunities that you can explore if you are planning to move to Africa and start a business. Take a look…
It is a great way to retain business links at your home country while you are managing your new business in Africa. The key here is to choose the right product that has high demand in your host country, get a worldwide supplier and start your business.
Exporting goods is another part of the trade if you plan to move to the Africa. It will be ideal for you set the right location in the continent and export locally available resources to your business networks at home. This is a great option as various products like honey, coffee and others cost very cheap in Africa.
Start A School
Today education has become a thriving business across the continent as more than one third of the population is under 18 years of age. As the public education system is highly flawed, many parents prefer private schools for their kids. With the knowledge of your own educational system, you can introduce international standards and practices to a community.
According to the U.S. Department of Commerce, the IT sector in Africa has been identified among the most rapidly growing and potentially most lucrative sectors. The industry offers an excellent opportunity for new businesses at different levels of economy.
Real Estate & Construction
Sub-Sahara Africa is the ideal destination for aspiring entrepreneurs looking for business opportunities in the field of construction. The World Bank estimates that the urbanisation rate in Sub-Sahara Africa is set to rise to 50 per cent from 36 per cent by the year 2030.
International Law Firm
With constantly growing numbers of multinational companies across the continent, especially in East Africa, organisations are bound to face conflicts, disagreements & disputes. Staring a law firm can help you create a strong foothold in the continent.
Lack of capital is one of the basic reasons why most businesses across Africa fail. Experts claim that even though the economy is growing with billion dollar investments for multinational firms, there is a strong need for micro-investments for small & medium businesses. Hence, this is another area you can consider. It is not necessary for you to provide the funding yourself; instead you can offer legitimate access to genuine investors & capital by setting up a financial services firm.
Do You Have What It Takes?
Apart from the ones mentioned above, there are many other areas where you start your business in Africa and experience growth. However, if you wish to succeed in your endeavour then it is imperative that you possess the right business and management skills. This is especially important if you are an aspiring entrepreneur. One of the most effective ways to gain the necessary skills is to pursue an online business diploma . Why?
Firstly, online business programmes are very flexible and convenient. Thus, you an choose to study at any time you want and focus on your new business at the same time. You can smartly balance your education work and family commitments as there are no fixed classes. Secondly, online business diploma programmes are highly affordable and does not require you to take out a heavy student loan. You can acquire crucial management skills that will empower you to lead your business forward and accomplish your goals successfully.
So if you are thinking about going to Africa and starting a new business, then this is the best time for you to get started, provided you have acquired the require skills, abilities and knowledge.
What do you think? Leave your thoughts and views below in the comments section.
Source – bit.ly/1KT7OO8