Did you know that there are up to 4 Million SMEs that enter the African market annually?
Africa is one of the world’s largest, and fastest-growing, market places ripe with both need and opportunity. With more than 54 countries and a current population of around 1.2 billion people, Africa’s potential as a growth market for business in an environment of slowing global growth, remains both underestimated and misunderstood.
However, an even greater number of unique cultures and languages coupled with the nuances that accompany doing business, can complicate what might be considered a standard approach due to the dynamics in each country—be it South Africa, Kenya, Cote d’Ivoire, or Morocco. Corruption is also widely assumed to pervade many African markets, making personal relationships a necessary foundation for doing business in markets across Africa.
The disparity in the legal, business development requirements and regulatory operations necessary to incorporate and operate in Africa’s high growth markets could also pose as a challenging factor. The fact remains though that small and medium-sized enterprises (SMEs) have the lowest rates of business survival worldwide, and Africa is no different.
As such, we’ve created a downloadable resource providing 5 suggested ways businesses can enter the African market from market research, incorporation and launch.