Ghana is one of the countries in West Africa and it is recognized for having a booming economy. As a matter of fact, the Ghanaian economy is rated as the fastest growing in Africa. One of the major exports of this West African country is cocoa. Ghana is the second largest producer and exporter of cocoa in the world. The country is blessed with beautiful beaches, lush meadows, and blooming forests which serve as home to a large variety of wildlife.
With the above description, Ghana is a great place to settle and do business as the economy is open for investors to make a good profit. You are probably reading this article because you plan to invest in the Ghanaian economy and are seeking the top 20 business opportunities in Ghana worth your time. I decided to bring you this article to make your search easy.
Top 20 Business Opportunities in Ghana in 2019
I know one of the major challenges faced in starting up a business is raising needed capital. This why in this article I have decided to bring you businesses that require very minimal investment capital. Before even discussing the business ideas, let us talk about where is best to site your new business in Ghana. The two most lucrative cities for business in Ghana are Kumasi and of course the Federal Capital, Accra. They both have the highest populations in the country, 1.7 million and 2.5 million respectively.
It is advisable to look out for opportunities, there are several openings which could be strategic to the growth of your business if you can take advantage. Examples include Gologo and Bugum festivals where you can set up shop for the duration of the celebrations.
Without wasting any more of your time, let’s get straight to business. These are the top 20 business opportunities in Ghana in 2019.
1. Football Academy.
Football is arguably the most watched sport in the world. Africans are known to have unrivaled love for football and Ghanaians are not exempted. Ghanaians love their football wholeheartedly and so you can tell that investing in football will be quite lucrative. What better way to invest in football than by developing players for tomorrow. You can be sure to get a lot of support, even from the Ghanaian government as the business is beneficial to the development of Ghanaian football. You should consider this if you have a flair for football and the necessary skills.
The internet is a goldmine where anyone who takes advantage can make huge profits. One of the most lucrative internet businesses you can be involved in is blogging. To be a blogger you must have good writing skills and a great passion for writing. People who are already involved in blogging will tell you that it requires a lot of patience and determination as well as research. With these in your kitty, you can be very successful, especially considering the Ghanaian economic climate.
3. Online baking store.
This is another internet-based business, well, if you consider the online store aspect. As you can guess, the business is two-sided, first and foremost you must be able to bake. This means you should garner the necessary baking skills and the equipment you need to run your business. This business is great for people who cannot afford to run a real-time shop or are cumbered with home duties. Discover your niche and then create social media handles or set up a small website using an attractive name. Then put up your baked goods and place a price tag on them and sell away. It is that simple.
4. Auto repair workshop
If you have an idea about repairing vehicles or motorbikes then this idea will be a great investment for you. It requires you have extended knowledge about parts of the machine and being able to diagnose and fix them when they are faulty. You can simply get a workspace and the important tools. Once you have those in place, start publicizing your business through every means possible. You can consider doing some free jobs to gain credibility and improve patronage at the start.
5. Invest in Art
Art to a lot of people is life and indeed it is. There are several aspects of art such as calligraphy, painting, sculpture, drawing, brassworks, etc. Whichever aspect you find a passion for and have the ability to handle efficiently will be a great means of income if you channel your investment properly. With efficient publicity, especially the use of social media art galleries, you can make a name for yourself and grow your profits in a very short time.
If you have some space for gardening and have a desire to grow plants, you can easily turn this to a profit-making venture. All you need to is to turn this desire into a burning passion for your plants, find out what plants sell the most, and invest in them. Gradually, with a resolute mind, you can turn your small yard to a huge profit maker and soon you will have a plot of land for your trade.
7. Invest in solar power
The world is experiencing a revolution, a shift from non-renewable power to renewable power. This is because renewable power is cheaper in the long run and it has little or no adverse effects on the environment. One of such renewable power sources is solar power. Businesses and family quarters need this as paying continually for power from the grid is expensive. You can make this your trade by either selling, installing, or maintaining solar panels and inverter batteries.
8. Personal trainer
Nowadays there is a craze for being trim and fit, having six packs and trim bodies and none of the sexes is left out. If you are knowledgeable in this aspect and a frequent visitor to the gym, you can make this a source profit instead of just a hobby. Start an Instagram page and post pictures and videos of yourself working out then advertise your services. You can be sure to attract a lot of traffic in a very short while, especially if your prices are not exorbitant.
9. Start a boutique
One of the three major needs of man is clothing. This means that with the right approach, selling clothes will always be lucrative. You can either buy clothes and resell or make it unique by customizing clothes for your clients. You can be sure Ghanaian men and women will chase after you for all their clothing needs. Make sure your wears are top quality and not too expensive.
I am sure you have some old books and novels that are wasting away in your attic. Instead of disposing of them by burning, you can turn them into a profitable venture. To make it better you can choose to start a mini-library where people can come to borrow and return at a fee. This way you can recycle your income and make tremendous profit from books you once abandoned.
11. Safari tours
Ghana has become one of the top tourist destinations in Africa. You can use this information to your advantage by getting yourself a safari jeep and become a tour guide. You can also rent out your jeeps to tourists at a reasonable charge. By so doing you are making a profit and also helping the department of tourism.
12. Private tutor
Ghanaians are naturally very studious people and parents will go the extra mile to ensure that their students get a good education. If you have a passion for teaching or imparting knowledge and you are great with kids you can invest your time and skill in this. You can make some good money at the end of the month by helping the future of young ones.
13. Chocolate Fountains
Ghana is a major producer of cocoa meaning producing chocolate is quite cheap. You just need to get a machine and your raw materials and site your stand anywhere where there is a lot of traffic. Both adults and children love chocolate and would pay a token to have a taste in their mouths from time to time.
14. Fish farming
Fish is one of the most consumed animal protein sources in Africa. Fish farming has helped in reducing unemployment rates and generating sustainable income for a large number of Ghanaians. A lot of students have gone ahead to gain knowledge in this trade and are making good money, so why can’t you? You just need to learn the rudiments of fish farming and then set up your farm. You don’t have to start big, you can begin on a small scale and grow from there.
15. Selling fruit juice
This business is one of the easiest to run. All you need is a very small capital, your mixer, and your raw materials. The best place to set up your kiosk is close to a school. You can be sure students will flood your kiosk at break time or after school hours.
16. A salon
Men and women always want to look good and as they say, looking good is good business. You can easily set up a small shop where people can come to make their hair and publicize depending on what aspect you focus on, male or female hair. To take it a notch higher, you can do home services at a higher charge. In fact, most stylists prefer home services as it pays more. Ensure you publicize your business through every means possible.
17. Run makeup classes
Makeup has become one of the most lucrative businesses today. It is not just needed for women but for several other aspects of life like in movies and stage plays. If you have this skill you can turn it to a money spinner. Simply set up training classes for people who are ready to learn and your classes could be physical or online. Whichever you choose, you are bound to make a lot of income monthly.
18. Dairy farm
You do not need a hundred cows to start selling your milk. You can start with 5 cows, find out your target market, and start selling you milk daily. This is a perfect small scale business you can start with minimal costs.
19. Courier service
People are constantly looking for ways to deliver items from one point to another without them getting missing or damaged in transit. If you can promise them this, be rest assured that you will get a lot of patronages. It will need you to invest in delivery boys and a means of transportation. You also need to decide whether you want to focus on intracity or intercity courier services.
20. Cell phones and accessories
People can hardly exist without their phones anymore so you are sure investing in a phone shop is going to fetch you huge profits. You just need to know what phones are most wanted and a site your store in a vintage location. You can also sell accessories like phone chargers, earpieces, Bluetooth devices, amongst others.
I hope this has been insightful and impactful. Now that you know the top 20 businesses in Ghana in 2020 you can begin to make an unlimited profit all year round.
See more details on Doing Business in Ghana
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