 |
| Toronto entrepreneur Tal Dehtiar is starting a new business, making shoes in Ethiopia for sale in North America. He says Africans want jobs, not aid |
What are the good opportunities in Africa? Where to invest? Which markets to pick? What are the risks? How to proceed?
You may be asking yourself these questions, among others. Let us explore what are the steps to take before you launch a new business.
Enterprise in Africa
Among emerging markets, Sub-Saharan Africa in particular has specific characteristics. First of all, risks require special notice here, foremost among them the risk of non-payment. None of the countries of the area are deemed to provide low risk, according to the French company Coface.
However, the rewards are commensurate with the risks! The potential for growth is here, no doubt about it. Extraction industries even allow for very high growth (double digits) in some countries. And room for growth has been identified in many industries: telecom, agriculture, gold extraction, information and communication technologies (ICT). New entrants can still enter many markets.
How do we spot the traps on the way to a successful business? There is no miracle recipe. The would-be businessman needs his share of common sense and must pay attention to what other people are saying. In particular, it can be very useful to get some feedback from successful entrepreneurs. You also need to be able to adapt to unforeseen complications and you should not be in too much of a hurry.
Among emerging markets, Sub-Saharan Africa in particular has specific characteristics. First of all, risks require special notice here, foremost among them the risk of non-payment. None of the countries of the area are deemed to provide low risk, according to the French company Coface.
However, the rewards are commensurate with the risks! The potential for growth is here, no doubt about it. Extraction industries even allow for very high growth (double digits) in some countries. And room for growth has been identified in many industries: telecom, agriculture, gold extraction, information and communication technologies (ICT). New entrants can still enter many markets.
How do we spot the traps on the way to a successful business? There is no miracle recipe. The would-be businessman needs his share of common sense and must pay attention to what other people are saying. In particular, it can be very useful to get some feedback from successful entrepreneurs. You also need to be able to adapt to unforeseen complications and you should not be in too much of a hurry.
10 key factors for a successful business project
1 – Get a good idea!
2 – You need to be personally comfortable with the role you are going to play in the project
3 – Make a market study to identify the risks
4 – Make a business plan and evaluate the date at which the business should break-even
5 – Fund your project (using savings, loans, etc.)
6 – Depending on your country, your government or private foundations might help kickstart your business: check that
7 – Depending on your country, you need to pick (wisely) among different legal status for your company
8 – Fill all the paperwork (official authorisations, forms, etc.)
9 – Get into an office or place of work and start working
10 – React swiftly to obstacles met the first few months down the road to success
1 – Get a good idea!
2 – You need to be personally comfortable with the role you are going to play in the project
3 – Make a market study to identify the risks
4 – Make a business plan and evaluate the date at which the business should break-even
5 – Fund your project (using savings, loans, etc.)
6 – Depending on your country, your government or private foundations might help kickstart your business: check that
7 – Depending on your country, you need to pick (wisely) among different legal status for your company
8 – Fill all the paperwork (official authorisations, forms, etc.)
9 – Get into an office or place of work and start working
10 – React swiftly to obstacles met the first few months down the road to success
Starafrica.com
No comments:
Post a Comment