Businesses to consider in 2023
IT is ideal to consider whether your business idea fulfils the needs of people and their approach to work if you are thinking about starting a business. Developing a business idea in Ghana and starting a business can be considered an opportunity for people to tap into a better life, fulfilment of dreams, financial freedom and many others.
The following business ideas can strive in 2023, based on my experience working with start-ups for the past 10 years.
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Juice production
Fruit juice consumption is rising and the juice industry is seeing tremendous growth as a result of rising living standards and more health awareness. To start a fruit juice business, you will need knowledge of the market, staffing, regulation, capital, machinery, etc.
This business also involves processing various types of fruits into a refreshing juice to be served.
Event planning
This unexplored market comprises discovering people who are planning events and then assisting them by recommending and locating the finest venue, MC, rental company, etc. One can become an event planner at no cost and need in-depth knowledge about the service event planners offer. Key points worth noting include the value proposition, customer segments and resources to start the business.
Cook-on-demand
Rendering a cook-on-demand service can be a great business idea for a start-up. This business involves getting orders to cook for an individual or a company at a time and getting the food delivered to them by yourself or a dispatch rider. This business does not require huge capital to start and is very profitable.
This business moves faster in urban areas and with the middle class. I will advise you to apply for the Food Handler Certificate from the Food and Drugs Authority (FDA) before proceeding.
Commercial cleaning business
Janitorial services are another lucrative business in high demand in Ghana, especially in the capital cities. Many households and companies need cleaners daily. There is always a wide gap in the market concerning the demand for this service and the supply deficit.
Online advertising firm
Online advertising can be considered a form of paid-for marketing that leverages internet-based channels to promote products and services.
This venture is a hugely popular strategy that almost two of every three small businesses use to win new customers. Some online channels include search engines such as Google or Bing, social media platforms, display ads and banner adverts. Social media is the new "marketplace" for businesses and can be considered the most lucrative and fastest business to run. Unlike traditional advertising mediums, the cost of online advertising is low.
Exportation
Exporting is an entry strategy by which companies from one country sell their goods and services to companies or consumers in a different country. Exporting raw goods from other countries, such as sweet potatoes, green vegetables, yam, cassava and other traditional products, has a high return in terms of profit since they are in high demand outside the country. An export business gets access to more consumers and other business opportunities.
Before starting an export business, one needs to understand the types of export businesses and the range of services they offer. One has to choose a niche, undertake market research, registration, licensing, etc.
Agribusiness
Agribusiness is considerably more than just animal rearing or land farming. It includes all commercial farming activities, as well as other tasks involved in growing, processing, and distributing agricultural products.
Agrochemicals, breeding, feeds, agricultural equipment, seeds, raw and processed inputs, packaging, transport, soil testing and retail are additional activities included in this list. The economy of Ghana has always depended heavily on agriculture.