Lots of people want to start a business whether a sole proprietor or a partnership. Even the current government encourages entrepreneurship, starting a small business to carter for oneself in the current situation. To be able to start a business there is the need to do some survey and registration for the business to be deemed as a business. Starting a business involves enough commitment and wiliness to be able to stand firm. Here is how to start a business in Ghana.
One is to develop a business plan from your ideas or goals. Every business started with an idea and as someone with the determination to start a business, you need to put your dreams into action. You need to draw plans in order for your business to survive. If your business idea is to open a restaurant then you need to that idea into action by looking for land and a favorable situation to attract people’s attention. It is easy to open a business but very hard to maintain but with your big ideas of yours something good will
Secondly, get your tax identification number (TIN) this is a means of uniquely identifying taxpayers or potential taxpayers for tax purposes. It can be done manually or online through simple proceduals.
- Personal details such as first name last name.
- Contact addresses including a working email addresses
- Occupation such as applicants occupation
- Work permit number if you’re non -resident and on a work visa
- Bank account details
- Employer details
- A scanned color copy of a valid identity document for verification(not expired)
- Online is valid Ghana driving license voter card or national identity card
All these could be done within seconds for you in any GRA office or NIA office around the country.
Again you need to register your business at the Registrar General Department, the department is to ensure efficient and effective administration of entities inter-alia registration of business property etc. it comes in two the walk in mostly the manual and the online.
- Go to www.rgdeservices.com
- Search for availability of your business name by clicking on name search
- Download forms of entity type you want to register
- Print, fill, sign, and scan the form and other supporting documents
- Create an account as a portal user
- Login with the user name and password given after the account creation
- Select entity registration link on the welcome page
- Select entity registration link again on the left pane
- Create on create new button if name has not been reserved
- Select entity type from drop down list
- Type business name under entity name and click to proceed
- Certificate and other supporting documents are issued when approval is given
- Input data, upload scanned and signed documents, and follow the instructions
- Pay online by clicking on the make payment online link
- The status of the registration will be communicated via SMS
- Click on the e-certificate link to save or print the certificate
Next is to open a business account, this business account is different from your personal account so to make auditing easy and accounts day easy for oneself. Opening a bank account for the business is also a means of saving for future sake. It’s very easy and need no hard formula for it. As a person with a personal account, you just need to go with your partner or yourself to sort things out, all you need is a business formation document, ownership agreement, business license then you are good to go.
You also need to apply for business operation permit from the municipal, metropolitan and district assembly. To operate a business all these count because the assembly also benefits by you paying taxes and if you don’t register with them they can close your shop or business and it won’t be deemed as a business. There are two permits temporary permit lasting 90 days permanent and these are the procedure
- Produce registrar general business
- Name business
- Name business owner
- Business location (GPS) address location
- Contact detail
A very simple and easy step to be able to work within your district.
Lastly register for social security such as SSNIT these are the procedures
- Certificate of incorporation
- Certificate to commence business
- List of employees with the social security numbers, basic salaries and their tier 1 contribution
- Primary place of business and postal address of employer
- Social security number of each director
- Tax identification number of each director
- A valid ID for each director
- E mail address and residential address of each director
And this completes how to start a business and the process involved.