Do you want to start a business in Ghana and you are browsing the internet for the most lucrative business ideas? If you answered yes, read on to find an answer to your query.
Ghana is a great place to start a business. There are lots of factors that encourage the growth of business here. No wonder why there has been a massive increase in the flow of Foreign Direct Investment(FDI) to Ghana.
The country continues to position itself as an attractive environment for businesses to strive. Despite any challenges, Ghana is a good place to launch that business and grow.
Not to bore you, here’s the list of the 10 most lucrative business ideas in Ghana for both citizens and non-citizens.
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10 Most lucrative business in Ghana
- Poultry farming
- Courier services
- Rental services
- Photography
- Driving school
- Agricultural and agro-processed products
- Unisex hair salon
- Mobile phone accessories sale
- Microlending
- Carwash services
1. Poultry farming
Poultry farming is one of Ghana’s most lucrative business ideas because it is easy and requires little capital to start. People enjoy eating meat, and there is always more than one event that requires the use of meat.
Apart from the meat aspect, you can also get eggs from rearing chickens, and many people out there love eating eggs. Starting this business will surely be beneficial to you in all areas.
2. Courier services
This is another lucrative business idea in Ghana. Going into the courier service business, you aim to solve problems from goods deliveries. It means you must deliver goods from one place to another within the city, one city to another, or country to country, depending on how advanced you are in the business.
Starting this business requires little capital. You can get high profits if managed well because people will always want to move their products from one place to another.
There is a big market for this if you know what you are doing.
3. Rental services
The rental service is also a profitable business to go into. Once you are known in this business, people will start patronizing you often, and at times you won’t be able to meet up with the different tools or equipment they want. But with time, you can add more products or equipment up for rent. Some products you can start renting out include;
- Ladder
- Chairs
- Vacuum cleaners
- Cooking utensils (pots, spoons, etc.)
- Music box
- Cutleries
- Canopies and more
Also read: How to register a business in Ghana
4. Photography
Photography has become one of the booming businesses today in Ghana because people are crazy about taking beautiful pictures for their social media pages and followers.
To be successful in this, you need a good quality camera and the ability to be creative and edit these photos to make everything exciting for your clients.
Have an online presence, showcase your work for people to see, and they will start reaching out to you. Luckily, you might even become some VIPs’ official photographer. Instagram is a good place to showcase your skills.
5. Driving school
Opening a driving school is a great business because you will always have patronage. This is because people will always want to learn how to drive for themselves or for a particular company they work for.
However, registration for this business is overwhelming for someone just venturing into a business. This is so because you must acquire certain certifications from different governmental bodies.
But once you go through these processes, you can start introducing classes for various vehicles available in your school. Finally, if your lessons are very good, clients will always be ready to learn from your school.
6. Agriculture and agro-processed products
Agriculture and its products are very important in our lives, we need them for survival, and it has been one of the important sectors of the economy over the years. This means people will always need and patronize you in this business.
However, it’s very easy to do, from growing crops to harvesting and processing to finished products. But there’s lots of profit, and it’s all worth it.
7. Unisex hair salon
This is a good business because people are always conscious of their appearance and want to look good. You can make lots of money from styling hair or cutting hair for your clients.
You can start small with little capital and expand over time.
8. Mobile phone accessories sales
The sale of mobile phone accessories can never go out of business because the number of phone owners is increasing daily, and they will always need them.
You need little capital to start this business, and over time you start gaining lots of profits.
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9. Micro-lending
This business requires you to have a lot of start-up capital. Many businessmen and women in Ghana tend to take loans from banks or other loan organizations to fund their businesses.
Still, most need a lot of requirements to get a loan from banks nearby, which means they fall back to the micro lenders. The business is very lucrative, and it will help if you do a background check before giving a loan to any of your clients.
You can scale think up by building a lending app. Put it on Google Play store and Apple App store. Ensure to get all legal requirements necessary.
10. Car wash services
This is a great business to start up, requiring little capital. You can do this business yourself or pay people to render the services. There is always a demand for car owners to get their cars washed, so it is sure that you can get clients daily.
Conclusion
In summary, Ghana is a good place to set up a business because of good government policies supporting economic growth and the general purchasing power is higher than many other African countries.
After reading this piece, you’ll have various ideas coming to you. Make sure you conduct in-depth research before investing in any of the businesses.
