At first glance, a business in a less developed country may seem like a profitable investment, but this is not the case in Africa. In this video, Magatte Wade will try to explain why it is difficult to start a business in Africa. She will talk about people trying to migrate to Europe for better working conditions. You will also find out how unprofitable it is to import goods into Africa and how corruption affects this process.
- Have you ever thought about starting a business in another, less developed country? If yes, which one?
- How good are the conditions for starting a business in your country?
- Have you ever heard of problems in African countries, for example, as mentioned in the talk?
Comments
In my country, business conditions are very suitable for those who have a lot of money or a specific academic ability or idea. In my opinion, everywhere in the world, a major effort is to succeed.
No, unfortunately, I had not heard anything about business in Africa, after seeing this video, I became interested in researching more about it.
As I have heard, it is quite hard to start business in Poland, and even harder to maintain it. The taxes are horrible, and many small businesses cannot afford to grow, because it would mean huge risk of bankruptcy.
Yes, I have heard about problems in Africa. However I don’t fully agree with the author of the presentation. If that would be so easy, just fix bad laws and open companies there, than there wouldn’t be any problem. The problem is rooted in dramatic history of this continent. People living there were exploiting through centuries and no one thought them to build or work for their own good. In my opinion, any years and generations must passed before they will change their mind and start building their own wealth.
I think that in 21 century it's not hard for business to become global, but I personally didn't think about that. But I heard about companies that have employees in all time zones, so their support can work all-day and in same time work in comfort time for them.
How good are the conditions for starting a business in your country?
I think everywhere except countries that made high stakes on new businesses like Lithuania, Estonia, Netherlands it's hard to run a company without millions of unnecessary paperwork operations and bureaucracy.
Have you ever heard of problems in African countries, for example, as mentioned in the talk?
I partfully agree with presentation, but I think African people should stop blaming others in their problems, and start to make something so investors can see that this is good place to operate. Nobody shouldn't help just because they ask, they should work as well to develop their countries. Because if just 1% of people are working hard, it don't mean that others think the same. Maybe it's better just to help this 1% to relocate.