10 Small Scale Business Ideas &Opportunities in Burkina Faso, Africa. Start Small and Medium-Sized Businessesin Burkina Faso
Burkina Faso may not be high on your list ofplaces to start a business, but it’s worth looking into. The World Bank’s DoingBusiness 2013 report ranked Burkina Faso as 46th out of 183 countries for easeof doing business, and GEM 2010 reported that only 5 percent of its populationis unemployed. Small businesses can go far here, with little formal regulationor restrictions on home-based operations. Burkina Faso has low electricitycosts, low transportation costs and no taxes on businesses owned by foreigninvestors. Burkina Faso is one of Africa’s fastest growing economies withannual growth averaging 5% since 2000. With its strategic location, landlockedbetween Côte d’Ivoireand Mali, it has access to abundant natural resources and produces cotton,gold, manganese and uranium. Recent discoveries of offshore oil reserves couldprove to be another driver for economic growth over coming years.