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If you are like many people who know how important it is to do business in Africa right now, you have the idea and do not know where to start. Maybe you want to export, farm there, or sell something there. In this article we recognize that Africa is a huge Continent, so we'll take a closer look at individual countries. We start with how to establish a business in Ghana. The Ghana Investment Promotion Centre Act (GIPC) outlines the fundamental requirements of Non-Ghanaians starting a business in Ghana.
Doing business in Ghana is actually not as hard as it may seem at first. The Ghana Investment Promotion Centre Act (GIPC) outlines the fundamentals for Non-Ghanaians starting a business.
When imports enter a country they normally have a tariff or a tax. So for example: when you are purchasing an item from France it’s more expensive because of a duty that the importer had to pay for it to come in. When a Trade Agreement is negotiated there is an elimination of that tax then the import comes in freely and the item may be less expensive than one you could purchase in the United States. If too many of those items are coming in then there may be concerns that there needs to be protection of that industry.
Read MoreIn order to decrease fears of US litigation, or any long drawn out litigation, for that matter, NAFTA has "dispute resolution panels." These panels look at whether or not the NAFTA countries participant is being treated fairly. Under President Trump, the US has claimed that "US court's sovereignty is eroded." He would do away with the panel altogether. Canada and Mexico want to keep them of course.
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