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Small Scale Businesses In Ghana To Start With Little Money
Are you wondering how you can start a business with the little you have? If yes, then let’s get started.
To start a business, you don’t need to begin with huge capital, especially in the small business arena. All you need to do is to make adequate research into the kind of business you want to embark on and also devise a plan to achieve success.
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For any business to perform at optimum level and achieve longevity, one must consider the following factors;
FACTORS TO CONSIDER IN BUSINESS SET-UP
Setup Capital
It is the first item to consider when planning to start a business. Since you are about to set up a small business, you don’t necessarily need to begin with huge capital. With the little you have coupled with adequate plans and innovative ways, you can start a small business.
Personal Interest
For the business to flourish, one must delve into the type he or she either knows something about, have a natural interest in, or, something he or she believes. The chances of making a success at something one has no interest in is very low.
Nature of Market
This factor determines whether one’s choice of business is good or not. You need to ask yourself these questions;
• What is the level of demand for your product or service?
• How often will customers make these demands?
• Is there any alternative product or service?
• Is there competition in the market?
• If yes, can you withstand the level of competition?
If these questions are met with positive responses, then the choice of business will be profitable.
Scalability
This talks about how one can keep growing when faced with increased demand for products or services. One has to anticipate and know whether the business can withstand growth without any hindrance.
The Consumer
For one’s business strategy to prove successful, the consumer must be taken into Consideration. One must target a specific consumer group and produce goods or services that they need. Also, one needs to plan out how the products or services will reach its consumers in time to avoid losing customers.
Businesses In Ghana To Start With Little Money
Here are small businesses you can start with little money or capital:
1) Starting a photographic service.
2) Selling phone accessories.
3) Operating a printing press.
4) Courier or delivery services.
5) Engage in interior designing.
6) Selling skincare products.
7) Become a content creator.
8) Starting a podcast.
9) Become an affiliate marketer.
10) Operating a haircut salon.
11) Engage in graphic designing.
12) Become a resume writer.
13) Become a freelancer.
14) Opening a fast-food joint.
15) Engaging in transport services.
16) Starting a small-scale farm.
17) Operating a fitness center.
18) Trading is beads.
19) Manufacturing of local soaps.
20) Operate a mobile money agency.
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