Africa is a home of business opportunities for startup entrepreneurs. The expanding trade links and the growing economies have drawn people from other continents to establish multinational businesses in Africa. Often, it is expensive to begin a company and most African entrepreneurs are unable to secure loans. Often, when loans are acquired, the government policies may be the challenge. There are other challenges like the erratic power supply, cost of using power generators and bad roads could be a hindrance to running a successful business.
However, over the past years, there have been improvements in some of the social amenities which have made it easier to start businesses. If you are looking for some of the best countries to start a business in Africa, there are things that should be at the back of your mind. Connection to a constant power grid and having access to other major indicators that would make your business run profitably. Although, there are few countries in the continent that are globally competitive, many are working to reduce the regulatory barriers for business men and women.
These are some of the countries where you can start a business successfully;
Tunisia has been building itself into a modern economy haven before the mayhem of the ‘Arab Spring’. The country has been able to work attract outsourcing and high technology companies from Europe. Now that the dust has settled after the unseating of Zine el-Abidine Ben Ali, there have been a major change in the country’s economy. You can come over here and start your first business.
Nigeria may have eclipsed South Africa as the continent’s largest economy; it has not stopped it from becoming sophisticated home to financial and business investors in the world. Start-up companies are gradually dominating the corporate scene of the country. Though start-ups may face some challenges in South Africa but, it is still a great place to start your business.
Botswana was once described by the global anti-graft watchdog Transparency International as the least corrupt country in the continent. This is one factor that investors and entrepreneurs can rely on when they want to startup a business. Diamond trade is an investment that Botswana rely heavy on to fuel its economy. The legacy of mining has made Botswana a competitive investment environment.
Rwanda many be landlocked and small, but it is becoming a compelling place to have your business success. This is due to the government’s support to ensure that entrepreneurs have one of the best environments in Africa. Over the years, the country has reformed to dramatically reduce the hurdles that entrepreneurs pass through to get established.
Our best bet is Mauritius that is nestled in the Indian Ocean, having a powerful commercial and cultural links to China, the east coast of Africa and India. The geographical location of Mauritius and the legacy of trading as a way station have led it to becoming a hub of investment. Mauritius has routinely climbed to the tops of countries in Africa ranking high for ease of doing business because of its liberal approach to taxation and regulation.