More and more members of the diaspora dream of starting their own business in Africa.
More and more members of the diaspora dream of starting their own business in Africa, whether to contribute to the continent's development or to seize unique economic opportunities. But entrepreneurship from afar poses specific challenges. Here are the steps to follow to start your business from abroad, and why you might also consider becoming a partner in an existing business.
- Contribute to the economic growth of your home country.
- Meet local needs that are not being adequately served.
- Create jobs for yourself and others.
- Diversify your income with high-potential markets.
- Identify a promising sector and a specific need.
- Analyze the competition and consumer habits.
- Rules may vary depending on the country (LLC, SAS, etc.).
- Seek the assistance of a local lawyer or expert.
- A local partner or representative can help you manage day-to-day operations.
- File articles of incorporation, register the company, and obtain licenses.
- Remote management: communication, quality control.
- Cultural and bureaucratic differences.
- Risk of poor execution or embezzlement.
If you are unable to manage a company on a daily basis, investing in a local SME or startup may be more suitable:
- You participate in growth without managing operations.
- You benefit from an existing team.
- You diversify your assets while making an impact.
Starting a business in Africa from abroad is an ambitious and rewarding project, but it requires preparation and rigor. Why not start by investing in existing companies to familiarize yourself with the market before taking the plunge?
Discover African companies ready to welcome investors through LowInvestor. Contact us to learn more.
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