Are you thinking about starting a business with little amount like Ghc1,000 or even more here in Ghana? If yes… then this article is for you. At the end of this article, you are going to discover the lowdown of “Businesses you can Start with something small.
Since this is a digital marketing platform, we will be focused mostly on the online aspect and also physical or face-to-face as well. But won’t be as much as online ones. This means you got everything covered here in this guide.
- 0.1 1. Start Buying and Selling Domains (Names):
- 0.2 2. Start Drop-shipping:
- 0.3 3. Start Trading Digital Currencies (Investing, Buying and Selling):
- 1 4. Be A YouTuber:
- 2 Below Are Some Face-To-Face Businesses You Can Start With Ghc 500, 1,000 and Above.
- 3 11. Buying and Selling of Ice Water and Drinks:
1. Start Buying and Selling Domains (Names):
This is one of the simplest ways to make some extra bugs as a side hustle with a low start up. You will be buying and selling domain (names) to individuals or businesses online. Domain names do not cost all that much, in Ghana Stormerhost is one of the web hosting companies that allow resellers on their platform.
Examples of domain extensions are; .com, .biz, .edu, .org, .int, .net etc. Domain names (Bronzereview.com, ransford.biz, arizonauniversity.edu, zionfelix.net etc.)
The idea behind this is, you will be surfing and searching for domain names that are simple and prove to be valuable. I mean names that both old and new businesses will like to use. Few years ago, “Vacationrentals.com” was sold for $35 million some time ago.
So here what you need is a bit of smartness to start searching for domain names you will find profitable purchase them first and start reselling them. As said earlier, in Ghana, web hosting service provider’s like Stormerhost do allow individuals and internet marketers to resell domains.
Check out: Stormerhost Official Website
2. Start Drop-shipping:
Drop-shipping is a form of retail business where the seller accepts customer orders but does not keep goods sold in stock. Instead, in a form of supply chain management, it transfers the orders and their shipment details to either the manufacturer, a wholesaler, another retailer, or a fulfillment house, which then ships the goods directly to the customer. (Wikipedia)
So here, what you will need personally is an online store in which your customers will make their orders through you. You get paid a commission once orders and sales are made through you via your online store.
Also, the best thing is you do not need to worry about shipping orders because it all will be dealt with by the retailer. You are just serving as a middle man.
For Drop-shipping, it will cost you at least $50 to get into it, sometimes more when you know nothing about creating online stores and designing. You will have to pay a freelancer to perform these tasks for you and then pay them.
After that, you choose your niche and then find a manufacturer who is going to deliver the goods anytime someone makes a purchase. If you are interested in drop-shipping and willing to know more you can read more about it on Wikipedia or join drop-shipping forums and groups on social media platforms like Reddit, Facebook etc.
3. Start Trading Digital Currencies (Investing, Buying and Selling):
In 2021, Elon Musk made a post on the Twitter saying, he sees digital currencies as the future. It was said that he invested over $1b in bitcoin alone and his company SpaceX will join forces with Dogecoin developers in other to make Dogecoin one of the best and profitable digital currencies in the world.
Investing and trading digital currencies is one of the profitable businesses we will personally recommend for people willing to make some bucks. Although digital currencies are volatile, the probability to make money from them is quite encouraging.
Yours is to buy with any amount of money you have and then decide whether to sell to make profit or invest. Some digital currency wallet we will recommend for our readers are;
- Blockchain Wallet
- Coinbase wallet
Although there are lots of bitcoin wallets out there on the Apple Store and Google Play Store, these are the ones we will recommend for our readers.
4. Be A YouTuber:
A YouTuber is an individual that shares content in the form of videos on YouTube. You can also make lots of decent money from YouTube. This will happen if you come out with quality content that people will love. Quality content mentioned here means, content that has value and educate, listeners and viewers.
One thing about YouTube is that, you have to be consistent and produce quality eye-catching videos before you start making steady income. Apparently, YouTubers are paid roughly $18 for 1,000 views and $1,800 – 2,000 for 1 million views.
You can try;
1. Uploading comedy skits on YouTube.
2. For the ladies, you can also make reviews on cosmetics and also teach how to put on makeups, keeping personal hygiene like weight loss, teeth whitening, cooking recipes and many others.
3. You can also give news updates whether it be entertainment, Political, Technology.
4. You can also create sports channels and upload sports updates and nice videos of players that every football fun will love.
5. Start Blogging:
You can start part-time blogging. We will say it’s easy if you blog about stuff you love and like doing most. You can blog about your self, family, hobbies, and even your school.
Although there are websites here in Ghana that have been around for so many years, have high website authority, quality backlinks, rank for most searched keywords and are well known in Ghana. There is still chance for you to start your blog.
Blogging takes a little time to pick up. You will see your traffic picking up within 3 to 8 months if you target your audience with unique keywords. After doing the targeting, writing good and quality content also counts.
Writing about stuff you love personally, you can write for about a year and still have different stuff to write on your website. Blogging requires research in other to come up with quality and unique content on your website.
You can also rank high in search results pages only if you plan and structure your keywords well and also go for a demanding niche.
For the selection of niches you can go for a niche you know something small or have some basic knowledge about. An example is if you love video games, you can promote video games and since you have some basic knowledge you can blog about it anytime you want to.
One pro-tip about picking a niche to blog about here in Ghana is that, do not pick a niche like the entertainment niche by uploading free music for people to download for free.
This thing may be outmoded soon. And upcoming artists will not be allowing bloggers to do that again because they will be earning nothing from people downloading their music for free.
Although some of these websites do get lots of traffic, their future is not that certain. Entering into this niche you can start with that and add entertainment news and sports updates or anything related. In any case of a new law you just switch up there without it affecting your blog.
6. Start Affiliate Marketing:
Another powerful business you can start as a side hustle with at least Ghc 500 or above is affiliate marketing which we are all into. Affiliate marketing is the process of selling products and promoting offers of businesses and individuals. For affiliate marketing, you will get paid on every sale you make or every task you accomplish as an affiliate.
Smart ones can start affiliate marketing by reading and watching some video tutorials on YouTube and boom they become super affiliates. Others have to take online affiliate courses and digital marketing courses in other to help them get what they want.
By doing affiliate marketing well you can earn millions of dollars online, but bear in mind that affiliate marketing takes time, consistency, hard work and lots of smartness.
Below Are Some Face-To-Face Businesses You Can Start With Ghc 500, 1,000 and Above.
7. Selling Phone Accessories (Phone covers, Earpiece, USB drives etc.):
You can also start selling phone accessories as well. But then, you can start selling some stuff that are in high demand and at low prices. Examples of some of these products are earphones, phone covers, USB drives, chargers etc.
Products like these don’t cost all that much but are in high demand in the market. You can start with less than Ghc1,000 and make reasonable profits as time goes on.
To make more sales selling stuff like these you have to put some things into consideration;
i. Your location.
ii. Strategy to make sales.
iii. Product pricing.
Your location matters very much. After that, you can choose your strategy to make sales. Either face-to-face or online. Mostly, products like Apple (iPhone) covers sell very much as well as Android covers also, some petty stuff like earphones, chargers, USB drives etc… sell well both online and offline.
8. Barbering Shop;
Barbering shop is also one of the profitable businesses here you can start in Ghana with a low start-up. Today barbers charge Ghc10 per single adult shave and ghc 5 to 7 for children.
This shows how profitable this business is, but the demerit about this is you really need a shop. And not just a shop but a shop at a good location and also enough money to make it look attractive in order to attract new customers.
9. Make and Sell Stuff like Yogurt, Sobolo, toffees, Liquid soap etc:
This is for individuals with some skills in these catering and other petty works. Selling or making drinks like yogurt, sobolo, ice kenkey etc. is not going to cost all that much.
You can package them into plain bottles and sell them in a formal way which will attract customers both online and offline. You will surely make some profits or increase your ROI as time goes on.
10. Sell Recharge Cards or Credit transfer:
This is also one of the businesses you can tap into with a low start-up. Just like you see people in your locality selling these recharge cards you can also do the same. With this type of business, you can start with at least Ghc 500.
The problem is, the profits made when selling stuff like this is very low, but one can make passive income if profits are taken care of wisely.
11. Buying and Selling of Ice Water and Drinks:
You can also tap into this business. Water is one thing we as human beings can not live without it. You can tap into this business with a low startup at least Ghc 500. Starting this business your budget should be how to get a cooler or fridge that’s it.
We won’t recommend hawking on the roadside but rather selling it if front of your house, shop etc. You will surely make sales as time goes on. Mind you, although the money earned in this business are normally coins, you can still make passive income from this business.
To conclude, above are the lowdown of the businesses you can start with at least Ghc 500, 1,000 or above here in Ghana. You are permitted to share your suggestions and questions in the comment section below. We will do well to reach out to you as soon as possible….
Disclaimer: The above information is not a piece of professional financial advice, interested individuals should make further researches before adopting any of them. We also, won’t be responsible for any financial loss.