Another area of business that is gradually attracting attention is the production of health and beauty products, as well as the provision of services in that area of business.
We all desire smooth, healthy and infection-free bodies, and with the proliferation of various medications all touting their ability to provide remedies, the availability of the right product at the right price may just as well set one on the road to a good business initiative. Whether playing middle-man role for an existing product or the manufacture of a new one, a product that provides such a solution may stimulate a volume of demand that would leave you surprised.
How then can you, as a young African entrepreneur, determine the right product for your (potential) clients?
A well-executed market research may lead you to answers they (your prospective customers) may need.
With the right combination of education and practice, you may come out with a product that serves their needs to their satisfaction.
But that is simply the first step.
Once the product has been accepted by your customers, it becomes important to take practical steps to solidify your space in the industry.
This becomes possible only after the product has passed the necessary tests by the regulatory bodies and has been approved for use.
In Ghana, the Food and Drugs Authority (FDA) and the Ghana Standards Authority (GSA) have the mandate to ensure that health and beauty products meet the minimum specifications to be considered safe for use.
Inasmuch as the government continues to play its role in ensuring proper healthcare for all citizens, a number of health institutions appear to lack basic amenities to cater for patients who patronize their services.
Private bodies continue to lend a helping hand, but it goes without saying that there is more room for improvement.
Year in, year out, pharmaceutical companies manufacture and import drugs in equal, if not a disproportionate measure. An enterprise dedicated to the manufacture of vital drugs would go a long way to reduce Ghana’s import bills and support entrepreneurship as well.
In a nutshell, there is no end to how resourceful or innovative one can be with regard to health and beauty needs of a family, a community or a nation.
Do yourself a favour; get started today.