DOING BUSINESS IN GHANA?! | Is this the best time to do business in Ghana? Lets Chat!!!! 

I don't think there will ever be a perfect time but some things can be done to limit risk like 1.) Start small and don't start your business with borrowed money. 2.) Don't buy or rent in foreign currency unless you are also earning in foreign currency OR you are able to increase prices and customers will still purchase. 3.) Having multiple sources of income Those are some of the few tips

The trick is having some online way of making US money while in Ghana. You do not need much. Even $500.00 US per month can keep you afloat in Ghana.

I agree with you Gabby, it’s not easy and you have to do your due diligence. This is why so many Ghanaians in the diaspora are nervous to go back to Ghana. You can’t be in a rush and you have to do research and build connections in whatever space you’re going in. Having foreign money is also crucial until you are well well established. But having a business in general no matter WHERE you are is not for the faint of heart! Keep going, you are inspiring others for sure!

Sobering advice and yes, I'm hearing that a number of the continent's currencies are moving mad...I would add that if someone still wants to move forward that they consider starting with a smaller footprint and focus on product quality, hopefully that'll take some stress off cash flow when covering operating expenses...as always tfs...

You are right about the challenging economic climate in Ghana right now. But nothing happening now is new, in fact, we've gone through worse times but people pushed through and still thrived. The key is being strategic about your business decisions and knowing how to navigate your way around the challenges. "He who looks at the wind will never sow" (Eccl 11:4) and no one ever reaps without sowing.

Gabby! It has been a while. But back to watch with more consistency. I need to catch up on all the videos I have missed. I have always loved your transparency from day long time ago, lol. I remember when you did the last heart-to-heart, many were upset, but I think for the people that needed to hear this advice, it was well delivered as usual.

You are 100 percent right about your assessment and opinion about Ghana. I knew this 20 years back. Ghana economy is unpredictable, iIs very hard to find trusted people to support you. I will only settle in when I am retired from my western employment to Guarantee me a bi weekly income. I wont even get into any business. I might find someone with an all ready start up buasiness and invest a small amount to it and just enjoy myself.

What u said about it being very difficult doing business in Ghana during this time is absolutely accurate. Unfortunately business owners and potential business owners will have to ride this wave out. Maybe things will get better next year.

I think that there will never be a perfect time to start a business in Ghana due to real estate fluctuations. If your'e renting a place for a business the prices will only go higher if you wait. But this is very insightful and great to consider. At this time I think goods and services that are necessities are all u should be looking at if you want to open a new business. At the end of the day. What is God saying? Sometimes you'll look like Noah. Thanks Gabby!

The problem with service-based businesses in Ghana is that people rarely want to switch, so you'll need to spend a lot of your money on new customer acquisition and build a very strong customer loyalty and customer service program once you start those businesses.

Thanks for this AND please, please, please do not contemplate business in Ghana with the expectation about consistency and predictability. There is no good time to do business. The boom and bust cycle in Ghana is a given since 1957. You have to do real due diligence to be recession proof, inflation proof. Some ways to do this, start a business that is foreign currency denominated e.g. Airbnb, secure foreign supply chains meaning try to purchase your inputs directly from China, Turkey and UAE meaning try to avoid or minimize buying locally for imported goods and instead buy directly from source. Start very, very small and grow incrementally. Finally partner and collaborate and spread the risk and investment.

I agree with you

My name is Munir Abdul Kamara and I live in England.

If you are worried about lack of consistency, you shouldnt do business in Ghana at all. Everything that is mentioned sounds like you were not really familiar with doing business in frontier markets

How can I contact you to get some true tips about doing business in Ghana.

Is there any information on which agents to use when searching for retail units. To be honest is there really the right month to start business in ghana?

Everyone does things differently. You base your timing on your calculations. It doesn't apply to others. We are all not the same and we all have different tactics.

Sista im not asking for you to reveal your political alignment, you are a influencer, please campaign on the ground for change in the country

Keep your mouth shut, you talk too much................................