How To Start A Business With 500 Ghana Cedis
Starting a business from scratch in Ghana is a big headache! From business registration to staff management. The taxes (E-Levy), cedi depreciation, high electricity cost, market competition, and labor cost.
The process to pass through before starting a business in Ghana will drain your pocket if you’re starting with a low budget.
However, I have carefully listed some on-demand business ideas in Ghana you can start with 500 Ghana cedis or less. These inexpensive business ideas are overlooked, but people are making a fortune money from them.
Use these proven and authentic business ideas to build a six-figure. Some of these business ideas require a zero budget, and it is no question asked. All you need is persistence and being goal-oriented.
Ways To Start A Business With 500 Ghana Cedis
Are you ready to start your business from scratch? Are you looking for how to start a business with 500 Ghana cedis? If your answers are yes to these questions, then there’s nothing to wait for. Let’s unlock these ideas straight away!
Mobile Phone Repair
Mobile phone repair is a multi-billion dollar industry that requires minimum investment to start and little to no experience. With the increasing number of smartphones, the cell phone repair industry shows a lot of promise and a good future.
But, it isn’t easy for people with less financial resources to start their own mobile phone repair center from scratch. The easiest way out is to start small, right in your house.
A cell phone repair business focuses on repairing broken or damaged cell phones and tablets. The costs of starting this type of business are not high and you can start with 500 Ghana cedis for your tool kite.
Buying & Selling Domain Names
Buying and selling domain names can be a great work from home business online. There is a low upfront investment required to get started. If you want to make good money online, buying and selling domain names can be a great idea for you.
You can buy a domain on the cheap sometimes for less than $12. If a business comes along and needs that domain, they’ll sometimes be willing to pay an exceeding amount for it.
What Are Domain Names?
A domain name is the address of a website that people type in the browser URL bar to visit your website. For instance, youths4success.com is my domain name.
In simple terms, if my website was a house, then my domain name will be its address.
You can use domains in various ways to make money; you can buy a domain name at a low price and then sell it at a high price.
Affiliate marketing is the fastest and easiest way to make money online. It doesn’t require any big startup amount, but if you want to be successful in this business module, you need to invest a little.
You may need some marketing tools and advertising platforms to put your affiliate links in front of potential buyers.
You can get a lot of marketing software starting with less than 500 Ghana cedis. To get more insight into affiliate marketing, I encourage you to read this post about how to start affiliate marketing the right way.
Starting a dropshipping business is a great first step into entrepreneurship. You’ll be able to sell products to customers, set your product prices, and market your very own brand.
You don’t even need to pay for inventory until it’s sold to an actual customer. Companies like Shopify and Oberlo are all that you need to do a successful dropshipping business.
Dropshipping is another multi-billionaire industry you can start with only 500 Ghana cedis. You can go for a free Shopify account and get a brand domain which will only cost you about $12 per year. Set up your online store and upload your products.
More about dropshipping later!
Connect your store to your social media account pages (Instagram, Facebook, etc.) Run social media ads to target your ideal customers online and bring more leads. Doing all these will not cost you more than 500 Ghana cedis.
If you’re a creative individual, then designing logos is a relatively easy business to start. You can do anything from designing unique logos to customizing ideas from templates.
Take advantage of free software out there like Canva to create a stunning logo for your client. Logo designers are the fastest money makers in the freelancing industry, as big companies and small businesses are demanding logos for their brands.
If you’re wondering how to start a business with 500 Ghana cedis, start branding yourself as a professional graphic or logo designer.
With the mobile revolution in full swing, the demand for apps has never been higher. When it comes to technology, there are plenty of career paths one can take.
One area that has seen an incredible rise in popularity is that of app development. Millions of apps are available today, from music apps to banking apps that help people perform specific tasks.
An android developer develops applications for use on phones and tablets that utilize the Android operating system. The cost involves here is the hosting and domain name plus advertisment.
Still, wondering how to start a business with 500 Ghana cedis? Think of rendering a cleaning service to neighbors. You can clean houses with all of the supplies and equipment you already use for cleaning your own home and then invest profits into specialized equipment for other clients.
Become A YouTuber
Now that you don’t need to be a partner to earn ad revenue on YouTube, anyone can start a channel, make videos regularly, and profit from them for a very limited investment.
Youtube videos don’t require much effort; anyone can start uploading quality videos to YouTube and getting paid.
Don’t assume you need an expensive camera, either. Vlogging can easily be done using your computer’s built-in camera or a smartphone camera. Start vlogging regularly and see profits in your account.
The highest-paid YouTuber earns $22million for a toy review channel from June 2017 to June 2018.
If you’ve got a way with makeup, you know how to create magic with powders, lipsticks, and shadows, then this could be the business for you.
As a makeup artist, you’ll help clients look their best for weddings or other special events, give makeovers to people who want to update their everyday looks, and more.
You can start this business with 500 ghana cedis; all you need is makeup, brushes and sponges, and your innate talents.
Start a branded ice kenkey business—a Ghanaian refreshing traditional sweetened fermented corn and milk drink as a food beverage.
Think of the cost involves in this type of business? All you need is the cost of a blender, bowl, branded bottles, kenkey, sugar, and milk.
What are you waiting for? Start your branded ice kenkey business with not more than 500 Ghana cedis.
MC (emcee) services
Do you possess good communications skills and a knack for public speaking? If so, your skills are in high demand from corporations and organizations worldwide as a professional emcee.
Professional emcees are often hired to host an event, open a seminar series, or act as the master of ceremonies for events ranging from charity auctions to annual general meetings for large corporations.
Shopping For Others
There are countless business opportunities you can start with 500 Ghana cedis or less. Think of the Jumia Force program; you help people shop on Jumia, and you get a commission. All you need is a smartphone and a good internet connection.
Bead making has become a very profitable business in our society nowadays. We can’t go away with our appearance in our traditional wear without putting on beads either on our wrist or neck.
Take a look around our ceremonies, weddings, and any other occasions, you will notice the beautiful beads designs people have put on, especially the ladies and their handbags.
All you need is the beads and the cord which will cost you not more than 500 Ghana cedis.
For me, if you’re looking for how to start a business with 500 Ghana cedis as a lady, I suggest you get into beads-making designs.
Buy And Sell Sachet Water.
The sachet water business is an evergreen business module, but people don’t recognize it as such. It is very lucrative and will remain for a very long time.
I once asked a pure water seller in traffic how much she’s making per day? And to my surprise, she told me she could save 50 Ghana cedis every single day.
She bought one bag of sachet water for 5 Ghana cedis and sold it for 30 pesewas per sachet for customers in traffic during the hot weather.
As part of my hustling, I worked with Voltic Cool Pac at Peduase-Aburi as a sales attendant, and looking at how much some of my customers were making from sachet water was very incredible.
So, if you’re still looking for how to start a business with 500 Ghana cedis, I think selling sachet water is on the go. The cost of one bag of it is not expensive. Even if you can’t afford a fridge, you can go for an ice chest and ice block to chill it for your customers.
Plantain Chips Making
Plantain is available all over Ghana, especially in the Brong Ahafo region, Ashanti region, and Eastern region. The cost of plantain is not relatively high as compared to other regions, especially the Greater Accra region.
You can start a plantain chips business with 500 Ghana cedis with the cost of plantain, vegetable oil, and a frying pan involve.
Now It’s Your Turn:
Starting a business isn’t impossible, even with next-to-no money. There are plenty of free resources to help entrepreneurs grow and succeed.
All it takes is dedication and an entrepreneurial mindset. Not only on how to start a business with 500 Ghana cedis, but how to start a profitable business and live your best life.
Start taking action from now; the earlier you start, the earlier you succeed. Hopefully, these business ideas have helped you conceptualize how you can start a business with 500 Ghana cedis or without much upfront investment.
What do you think about these business ideas? Please share your thought with me in the comment section below.