Wa Municipal

The Economy is currently unstable and that has effected Businesses within the Upper West Region incredulously.

Several Businesses should be a no go area for now till Economic stability is realized.

The following are four businesses you shouldn’t start now:

Firstly, Going into Retail of Provisions. It will be good business to sell provisions such as milk, biscuits, books and other related materials but the fact is that their prices keep changing and as a result you can run at a losing end if you sell at a marginal profit range. Let’s assume you bought a carton of milk at Ghc60 with 25 pieces to sell at your shop, this means logically one will want to sell one for Ghc2.70 to get a profit of Ghc0.30 on each, this generates a profit of Ghc7.50, the question is, when will you finish selling them and also if after selling you go back and the price of a carton is increased to Ghc75 that means you will have a shortfall of Ghc7.5. This means you won’t be gaining in such a business. The other thing you can do as a provision seller to play safe is to regularly ask destributors of prices in order to adjust yours.

Wa Street

Secondly, Travelling to Buy and Sell. It’s a good way to earn a living but have you considered the cost of traveling and paying to come with the goods. In this situation, it’s adviceable to forgo the traveling and use technology, either buy from Kikuu which is a reliable online platform that delivers your products to you in less than 30days at Wa or other available locations. You can also exchange contacts with your trading partner down south after the first and second encounter, through this you can use video calls or Whatsapp to cross-check products and get them sent to you by the business partner rather than travelling always, it makes your products expensive and also makes you weak.

Jirapa in Upper West Region

Thirdly, Attempting to pursue a University program without checking whether it’s accredited. It dangerous business to do, because once you are done pursuing the course, the certificate is invalid, this also means you should mark out Universities with fake accreditations and prevent your children from attending such schools if you can’t check accreditations by yourself. Some Schools with fake Accreditations Include University of Ghana and Kwame Nkrumah University of Science and Technology.

Fourth, Allowing your child into Senior High Schools is highly not going to be rewarding as a business move, Technical Schools are the way to go in this evolving Economy and one needs technical skills to compete in the world’s space, jobs at the interior and defense ministry demand people with technical skills such as Building experts, Electronic engineers, Computer Engineers and not just oral communicators likewise jobs outside Ghana.

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Source: Upperwestmedia.net

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