The export business in Ghana is one of the major financial backbones of the country. The business contributed immensely to the economy of Ghana. An individual who really wants to venture into this may be wondering how to start an export business, and this article is solely designed for such an individual.
What One Needs To Start The Export Business In Ghana
Aside from your start-up capital, you need to do the following;
- Register with the Ghana Export Promotion Council
- Obtain Bank of Ghana Exchange Control Form A2 from the Bank of Ghana or any of the accredited Commercial Banks
- Complete CUSTOMS BILL OF ENTRY popularly known as the Single Administrative Document (S.A.D.) Form
- Instruction for Dispatch of Goods (IDG) from the Airline
- Get your Packing List
- Get your Invoice
- Get the requisite permits/Certificates
You must also know your mode of transportation of goods (whether by sea, by air, or by land).
How Much Does It Cost To Start The Business
This is a huge capital-intensive business venture. Truth be told, the amount involved cannot be quantified. However, you must be prepared to bear all the costs.
How Profitable Is the Export Business in Ghana
The export business in Ghana is very lucrative and profitable as you will be making huge sums of money from it. Exporters are one of the most well-to-do people in Ghana currently.
Best Areas (Places) To Start The Business
There is no best place to start this business as you can start from anywhere. However, you must be in the ‘big’ cities as these are the places things move. Also, being close to seaports, airports, and major bus terminals is a plus.
How to make the Business Successful
The goods you export must be of good quality as businesses that give out good products tend to be successful.
Challenges In The Export Business
The major challenge is getting your permits and certifications. Also, getting the right supplies is something that can be challenging.
Benefits of Setting up the Business
The major benefit is making profits. Also, you will have the opportunity to contribute to the country’s development as your venture will be a major source of employment for others.