The 5 reasons why you must start a business in Africa
Africa is ripe for business and now is the time to get in on the act before entry becomes more difficult. There are many ideas of starting a profitable business in Africa today.
We are not dwelling on those today but keep your eyes peeled for that article. For now these are the reasons to start a company in Africa.
Infograph from ALN Ventures
Growing consumer base
Africans are earning more and demanding better products and services. Euromonitor projects current consumer expenditure to grow by 58% to 1.3 trillion in year 2020.
Fastest enterprise growth rate
According to the IFCs enterprise survey, real annual sales growth of African companies is one of the highest in the world. who doesn’t want a business growing faster than the average growth? See Africa is where the ball is bouncing.
Simple ideas can be big businesses
Most regions have talent and capital but the ideas are scarce. Africa has the mix of those 3 things. There is increasingly more capital available. If you are one of the few who decide to execute, simple ideas will work here. Just do it.
Favourable labour demographic trends
In 2015 54% of all Africans will be of working age. This same population is increasingly literate. start a company in Africa there is enough labour to see through your ventures.
A rare chance to build something that matters
Entrepreneurship in Africa like anywhere else, is not for the faint of heart but it is immensely rewarding. where else on earth do you get to shape the face of an emerging continent? Only in Africa.
Tell me you are going to Africa to invest or start your business i will say good choice.