Is it possible to start a business in Ghana West Africa Ghana with 250 dollars as your capital?

Answer

Depending on the kind of business, I would say yes, it is possible. $250.00 is approximately 250 GHC (Ghanaian Cedis) The Ghanaian Cedi was redenominated in December 2006. This brings it closely in line with the US Dollar (USD)

In Ghana, selling cold water [Ice water] is regarded as a business, and there are a lot more smaller businesses that you can get into.

If you are the kind of person who gets on easily with foreigners, you can start by selling artifacts, wood carvings and things of a traditional nature that tourists like. If you can go to the source of the item (art works or wood carving, for example) you can purchase a nice piece for about 6 GHC and end up selling this for more that $15.00, which is a 250% markup.

I once heard a guy from Mali saying "In Ghana, they have money in the gutters and everywhere, but the people just don't know it is money". This is a guy who purchases and sells things like cotton sacks. For this kind of business 250 GHC is enough to start.

It does depend on the kind of business you want to start. A straight answer to your question is YES, you can start a business in Ghana with $250.00 BUT it will take time for you to lift yourself up from the ground with such a small money as your capital

First answer by ID1153386616. Last edit by ID3344583285. Question popularity: 87 [recommend question]