Doing Business In Cameroon
Doing Business in Cameroon.
Cameroon is one of the open countries one should think of investing in. Doing business in Cameroon has been made easy since the rise of the 21st century. The average economic growth rate since 2013 has been a 3.7% increase. At this pace, it implies then a lot of new companies rising and trying to take the stand.
According to W.W. Rostow, Cameroon in 2018 was at a Take Off stage. A stage coupled with increases in industrialization, increase in standard of living, increase in agricultural and mechanized activities. Thus putting Cameroon as a country for investment.
Why Doing Business in Cameroon?
Doing business in Cameroon is a venture worth a try. There are several ways in doing business in Cameroon and the most common is the ”SARL” which is a limited liability company. Its is for sure the most used in Cameroon. As an investor, you may also set up a public limited company (SA).
There is a high demand of investment from investors in Cameroon and during this demanding stage, a lot of new businesses are opening and a lot of businesses are facing challenges due to the calamities of the COVID-19 pandemic.
Thus, building a strategic business should be an investor’s strategy to boost revenue.
Any entrepreneur willing to start up any business in Cameroon has to do some professional homework regarding the country’s business and tax laws, including general marketing analyses.
Cameroon Business laws
During the 1990s it was very difficult to actualize a business in Cameroon. It was such that only high income earners and foreign investors could succeed in their business quests.
As a matter of fact, it was almost impossible for women entrepreneurs to show up talk-less of opening enterprises. The law at that time wasn’t in favor of women entrepreneurs.
The 21st century came in with a brighter side to empower women and give them the abilities to open businesses even without the consent of their husbands. Woman can as well build businesses of a large size yet the law limits their full expression but nevertheless, women entrepreneurs in Cameroon have shown the bright of the day with outstanding businesses and investments. Are you a woman entrepreneur and you have a beautiful project to realize? Contact us now for guidance.
If you are an investor you may want to read on how to set up a business plan in Cameroon.
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To conclude, the content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Hey Business Leaders, if you want anything to suggest or say please leave a not in the comment box.
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