With the unemployment rate increasing yearly whilst universities, polytechnics and vocational institutes still producing thousands of graduates yearly, the only way to survive and make a living for some graduates is to look into the possibility of starting their own businesses. To assist in this quest, we came up with 5 profitable businesses to start in Ghana with little start up capitals which if well taken care off can return ridiculous profits. Take a read below.
Ghana ranks high in the agric sector world wide and many believes venturing into agriculture may be one of the viable start-ups in the country. Hence the first business to start is in the agric sector.
- Poultry Farming
Poultry farming is a highly profitable business if well executed. Considering how Ghanaians prefer chicken meat, raising poultry is a guaranteed way to generate a lot of money. There will always be a gathering that requires the meat. Eggs are also a common part of Ghanaian dishes. You could start your poultry farm in your backyard with a few chicks and then expand to a larger number with reinvestment of profits. With layers, you could sell the eggs and if the hen becomes less productive, it could be sold for meat.
2. Laundry Business
Despite the need for clean clothes, many people do not have the time or are just too lazy to do it. Laundry is frequently ranked as the least favorite home task. What makes it a business worth considering is that running your own laundry business does not require any specific qualifications or experience. With a few resources and and advertisement, you can start your own laundry services at home.
3. Event Planning
The rise in plush events has made the work of event planners more enticing. Almost everyone wants their programmes to be the “talk of town” hence will invest in it to get the trends and to get this, they go in for event planners. Being an event planner requires proper organizational skills and less resources. You can start as an event planner without owning anything, all you have to do is to budget well, rent all you will need and put things together creatively.
4. Mobile Money Agent
This is arguably the fastest rising business in the country. the number of Ghanaian mobile money account holders are more than those who have bank accounts and the number of mobile money transactions per day is outrageous. if an honest agent shares the amount of money they rake in monthly, you would be surprised. It also requires minimum investment as you may only need a merchant sim, a kiosk and a little cash (both physical and electronic) to start your business.
5. Beautician (Make-up) Business
The make-up is one of the fastest rising lucrative businesses in Ghana. Women want to look gorgeous and cute for any event even if its on a short return trip locally. Many women do their own make-up, even if they aren’t experts but will prefer experts for major events and here comes the opportunity.
Make-up artists can partner with photographers, hair dressers, movie producers and other entertainment industry workers to provide make-up services at their events. You can start with home and events services before getting a fixed location whilst still providing mobile services. With experience, you could provide make-ip tutorials at a fee. Another point to note is, it is inexpensive to start.
Read more of this topics and others here.