Successful Small Businesses In Africa

Successful Small Businesses In Africa

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Doing business in Africa can be profitable and risky at the same time. Small or big businessman, he/she will only become successful only if he will learn/undergo coaching and mentoring. The bigger the business is, the bigger the loss. The loss and gain of one’s business depends on their sizes. But with expert management, some things may turn around. Small business will earn a lot and big businesses will sink big time.

Small businesses in Africa is perceived as the most stable type of business. People believe that smaller ventures face lesser risks compared to huge businesses. In this time of recession, smaller ventures tend to become more flexible than any other businesses. But it does not mean that all small business will soar. Success is achievable only if you have chosen the right type of business. In Africa, investors carefully choose what type of small business they should start. Selection of venture is not an easy task, it is better if you will have a reference of what businesses have withstand the business environment in Africa.

Small businesses in Africa related to manufacturing, health, wholesale and retailing industry and agriculture. Businesses on these categories profit more because of they provide and sustain the needs of Africans. The ever-growing needs of the people is an opportunity that businessmen should enjoy, especially now that the region is on the frontier of economical development. From time to time, their demands for basic commodities will grow.

Manufacturing is nice business to do because of Africa’s abundant resources. Even if there is a presence of large manufacturing companies, there is still a room for small groups because they are the one who can reach more Africans faster. They have a direct procurement on certain materials and machinery. Possible small businesses are weaving, lace making, rug making, retail bakeries, pottery and many more. The labor force for manufacturing in Africa is relatively high, adding up to its potential in the African Market.

Health services, including education aids, can also be appealing because until now, it one of Africa’s problem needed to be addressed. People in the continent are in need of massive transformation on their health and education programs. If there will be an entry of investment on this area, bigger growths are possible. Entrepreneurs will be the one to provide aids and support to Africans.

Wholesaling and retailing industry plays a vital role in the African market. Food products are usually imported and operate by wholesalers. It is a profitable business of the possibility of involvement of foreign trades. Wholesalers are very important in the distributing systems in the market, they are suppliers for independent retailers and informal operators. Common businesses in this industry are stores, dealers of some products like, electronic, farm and construction materials, liquor, home furnishing and a whole lot more.

Agricultural sector is the most positive investment the one can indulge in. Africa is evidently rich in natural resources. The continent is one of the world’s largest landscaper. All that they need is more intelligent farming knowledge and innovations to give way for expansion of the business. There is also a great number of Africans who have been doing farm business ever since.

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