Next Gen Ghana: A Young Entrepreneur’s Guide to Starting Up

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Next Gen Ghana: A Young Entrepreneur’s Guide to Starting Up

Written and Curated by Evans Ofori Gyebi

Ghana's wealth of resources, democratic political system and dynamic economy, makes it undoubtedly one of Africa's leading lights. Gaining the world's confidence with a peaceful political transition and a grounded and firm commitment to democracy has helped in expediting Ghana's growth in foreign direct investment (FDI) in recent years.


Ghana has attracted the attention of well-known international businesses, investing in all sectors of our economy. All these investors have come to Ghana because they know we have a wonderful conducive social, political and economic environment in which they can invest, grow and be successful.


Building on significant natural resources, our dear nation is committed to improving its physical infrastructure. Moreover, Ghana has recently embarked on an ambitious but achievable reform programme to improve the investment climate for both local and international investors.  These efforts have paid off tremendously with Ghana being ranked the best place for doing business in West Africa, ahead of Nigeria and Cote d’Ivoire, according to the 2017 Ease of Doing Business Report. Ghana ranked 108, an improvement from the 111 rank in the previous report. The indicators as described in the report includes: getting electricity (moved from 122 in 2016 to 120 in 2017), resolving insolvency (moved from 158 in 2016 to 155 in 2017) & trading across borders (moved from 167 in 2016 to 154 in 2017).




















Figuring it Out

Irrespective of where you are coming from, Ghana has plenty of resources for young entrepreneurs and investors to get started with startups. Ghana can help provide you the people and spaces to do everything from learning more about startups to  transcending ideas into business. Whether you are new in the spaces or no matter your interest in startups or background knowledge, the organizations, classes and competitions in here can get you there.

  • Enactu Ghana: has chapters in about 12 companies in ghana, whose focuses in the development of young entrepreneurs through volunteering, training and competitions.

  • Ten Ghana: is a non-governmental organisation that seek to help develop young entrepreneurs through hands- on workshop with qualified facilitators and also organising pitch competitions.

  • Propel: A monthly meetup for young entrepreneurs in Legon and KNUST campus.


Starting Up

The activities under this section will focus on entrepreneurs who are actively running their own businesses.

  1. Use indigenous successful companies as case studies to understand entrepreneurship and the art of business  

With the help of the success stories of our local companies. We wish to look at the journey to success. How they started, the processes they used and other things that helped the get to where they are. Also look at challenges they faced and how they solved them. This will help the young minds have a fair idea of how entrepreneurship is all about and what exactly it takes to be an entrepreneur.

  1. Workshops on how to create a business plan and other documents necessary to start up a company

These are hands- on trainings that would be organised for our students and young entrepreneurs to be fully equipped with the necessary skills that would help them build up their startup. These train set will range from how to set a startup, how to prepare a business plan and every other thing needed to start up.

  1. Time with CEO’s

This is an event where CEO’s would be given the platform to share their personal experiences with these students. They would also be encouraged to be mentor’s to these up and coming young ones.

  1. Coffee chat twice a week

  2. Monthly meetup for young entrepreneurs and those who want start their business

  3. Training on pitching a business idea and concept

This is a training to equip these student and young entrepreneurs with the art of being able to sell out their business ideas to investors for their support through being able to do a powerpoint presentation and good public speaking as well.

  1. Once every semester  a meetup with all other campus chapters for a training  and socialization.

Students from our different campus chapters will meetup and have trainings and socialize amongst themselves and the facilitators.

  1. A pitching competition for chapter members with an award for the best

This competition is to test what exactly students and young entrepreneurs have learnt from the pitch training and also to award the best to boost their confidence and also reward their hard work.

  1. A pitch competition with investors for final year projects being done by students and young entrepreneurs with their business ideas.

This competition is to help link young entrepreneurs and final year students with good project to present their works and ideas for support from investors.



Scaling and Growing

After working on your startup for a period of time, you reach the level where you will need to scale up. You may be graduating, or aiming to leave campus early, or just need additional resources to continous your entrepreneurial journey. Irrespective of your needs, to propel into the real world, you’ll need to expand past what you’ve been given in Ghana. But before traveling oversea, you should check out Ghana’s many incubators, accelerators, coworking spaces, and funds for your startup.


HUBS, Accelerators and Incubators

  • African Entrepreneurs Hub ---- A nonprofit organization focused on advocacy and helping SME’s build their business the right way.

  • HAPASPACE ---- A collaborative hub which powers startup business with technology.

  • HOPin ACADEMY---- HA is an entrepreneurial initiative providing goal-oriented, practice learning with the aid of tech.

  • MEST Incubator ----- MEST is a non-profit, Pan African training program, seed fund incubator and hub.    

  • Dansyn Ghana Limited ----- Growth support training, business incubation, consultancy services, and skills development.

  • ICODE ---- Is a business and technology incubator which trains people on entrepreneurship and technology and provides co-working space and private offices with 24/7 4G internet.

  • A Technology Hub for rapid prototyping of ideas, budding local innovations and impacting startups.

  • Mobile Web Ghana --- We seek to build the capacity of the youth to use technology to develop solutions to local problems.

  • Kumasi Hive ----  A technology Hub for rapid prototyping of ideas, budding local innovation and impacting startups



Coworking Spaces

  • ISPACE ---- Provides office space, funding and training

  • Workshed ---- We are an ecosystem of space and consulting services designed to help you achieve business success.

  • TENTMAKER --- An innovation hub providing Business incubator, Co-working space and Business Support.


Capital

  • Africa Internship Academy ---- AIA provides innovative young entrepreneurs with financing, technical assistance and broader ecosystem support.

  • MEST --- A non-profit, Pan-African training program seed fund incubator and hub.

  • The Presidential Pitch ---- The Ministry of Business Development provides young entrepreneurs with the needed platform to pitch their business ideas and receive some capital funding.


CONCLUSION

Ghana and the surrounding are have a assortment of resources and opportunities for you to learn about startups, start a company of your own, and grow it to success. .


As a student or young entrepreneur this is the best time in your life to try something new, whether you’re looking to simply learn about the entrepreneurial journey or build a great brand. Startup may seems like an intimidating idea, but not only do you have the time and freedom to try, fail, and try again, but as a  student you’re also surrounded by the best resource you could ever have: peers as driven and brilliant as you are.


Alex Gordon