Just as in developing any type of business in any country, due diligence requires making an assessment of supply and demand for the services or goods offered through a business venture. The type of business being developed will determine the best country of operation in Africa. Africa is a vastly diverse continent with various cultural groups, languages, forms of government, and economic and political structures.
Instructions
1. Plain mart research.Birth a Biz in AfricaThere are some core issues that should be addressed when considering doing line in any Non-native native land. Moreover to conducting due diligence on the social and economic stability in the sovereign state where you are considering doing concern, central issues to assess build in: 1) available wealth for the specific line exploit in the prospective African society, 2) the administrative generation and mode required for a episode startup, such as occupation licenses and interpretation permits; 3) competence to enforce contracts under the regional regulatory course; 4) and the advance and constant of Safeguard for registering and protecting Belongings. The specific answers to these issues Testament, in item, finish the course costs and lurking future for profitability while operating a complication in an African sovereign state. Doing business in certain regions of South Africa, which may have a more developed business infrastructure in place for foreign investors, will be different than starting a business in Ethiopia. Ethiopia, however, is the second most populated country in Africa whose natural resources include potash, salt, gold, copper, platinum, natural gas (unexploited), according to the U.S. State Department.
2. Check into African intergovernmental agency resources. For example, according to Ugandan attorney Moses Byaruhanga, an international lawyer at Shonubi, Musoke & Co. in Uganda, the intergovernmental East Africa Community (EAC) is composed of Burundi, Kenya, Rwanda, Tanzania and Uganda and operates as a custom union, but is slated to enter the common market on July 1, 2010. This market comprises approximately 120 million east Africans, and the EAC is designed to help facilitate business, trade, tourism, and investment among member states.
3. Hire legal counsel. This should include hiring an international business lawyer with topical experience or particular experience in the business destination country. It is also a good idea to hire local legal counsel in the country of operation. There are many African-based law firms with lawyers who are licensed to practice in their local legal bars and have knowledge and training in conducting international business transactions.
