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Starting a business in Ghana can seem like a daunting task, especially when you have to fund it entirely from your own pocket. However, the good news is that you don’t need a fortune to launch a profitable venture.
Have you ever thought about turning your small business idea into reality? If so, now is the time. With less than GH¢ 5,000, you can start a successful business—provided you choose the right model and work smart.
Whether you’re a young entrepreneur, a fresh graduate eager to create opportunities, or someone looking for a side hustle, this guide will walk you through how to get started on a budget.
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5 Low-Cost, High-Profit Business Ideas
Some businesses require minimal startup capital but have the potential to generate significant income. Here are five profitable options to consider:
1. Mobile Money & Phone Accessories Business
Startup Budget: GH¢ 3,000 - GH¢ 5,000
Why It Works: Mobile money transactions are booming in Ghana. The total value of financial transactions made via mobile money rose by 51.76% to GH¢ 3.02 trillion ($196.7bn) in 2024, compared to GH¢ 1.99 trillion in 2023.
Bonus Opportunity: Pairing mobile money services with selling phone accessories—chargers, earpieces, screen protectors—can significantly boost profits.
What You Need: A secure kiosk or rented space, mobile money registration, and a small stock of accessories.
ALSO READ: 5 money mistakes you must avoid today as a young person – Don’t miss no. 4
2. Food Vendor or Delivery Service
Startup Budget: GH¢ 1,500 - GH¢ 3,500
Why It Works: Ghanaians love good food, and the demand for home-cooked meals, fast food, and delivery services is increasing. The restaurant delivery market in Ghana is projected to generate US$10.14 million in 2025.
What You Need: Cooking utensils, raw ingredients, and a small marketing budget. Partnering with delivery riders or using a motorbike can help expand your reach.
3. Liquid Soap & Detergent Production
Startup Capital: GH¢ 800 - GH¢ 2,500
Why It Works: The demand for locally made cleaning products is increasing due to affordability and high daily usage.
What You Need: Training (available online or at workshops), raw materials, packaging bottles, and marketing.
4. Second-Hand Clothing (Fose) Business
Startup Capital: GH¢ 1,500 - GH¢ 4,000
Why It Works: Many Ghanaians prefer quality second-hand clothes because they are stylish yet affordable.
What You Need: A good supplier, a location to display goods, or an online platform to sell.
5. Graphic Design & Printing Services
Startup Capital: GH¢ 2,500 - GH¢ 5,000
Why It Works: Businesses and individuals constantly require branding materials such as flyers, posters, business cards, and banners.
What You Need: A laptop, design software (Adobe Photoshop, Canva), a printer (if offering print services), and an internet connection.
Steps to Develop Your Business
1. Create a Business Plan
Even with a small budget, a solid plan is essential. Your business plan should outline:
Your business idea and target market
Estimated startup costs and budget allocation
Marketing strategies
Daily operations and potential growth strategies
ALSO READ: Instagram to Boardroom: How social media is reshaping entrepreneurship in Ghana
2. Use Social Media & Word-of-Mouth Marketing
With limited funds, traditional advertising may be costly. Instead, leverage free and affordable marketing channels:
Social Media: Create a business page on Facebook, Instagram, or WhatsApp Business.
Content Marketing: Post high-quality images and videos showcasing your products or services.
Customer Engagement: Respond to comments, direct messages, and offer promotions.
Referrals: Encourage satisfied customers to refer others for discounts or rewards.
3. Start Small & Scale Gradually
Avoid spending all your capital upfront. Instead, reinvest profits to grow your business:
If selling clothes, start with a small batch and test the market before expanding.
If venturing into food sales, begin with pre-orders rather than setting up a full restaurant.
4. Minimise Costs & Maximise Profits
Avoid unnecessary expenses such as renting a costly shop when you can sell online.
Negotiate with suppliers to get the best deals.
Offer value-added services like delivery or discounts for bulk purchases.
Conclusion
Starting a profitable business in Ghana with less than GH¢ 5,000 is entirely possible with the right mindset, careful planning, and smart execution. Choose a business that matches your skills and interests, market aggressively, and reinvest profits for expansion. Every successful business started small—yours can too.