Attaining Financial Freedom in Africa

HOW TO ATTAIN FINANCIAL FREEDOM IN AFRICA

Africa is one of the most populous and one of the biggest continents in the whole world. For the past years, the continent's economy had freeze due to health, political, and employment reasons. But the country is taking its toll to progress. Africa, with its rich-contained minerals and oils puts the continent into fast recovery. Its business and economic potential is humbly soaring. Thus, Africans especially the young, dynamic Africans should have find ways on maximizing this potential. In fact, many Africans nowadays are already indulging into entrepreneurship. The people are becoming more aggressive in finding creative income-bearing opportunities.

WHY INVEST IN AFRICA?

One of the best steps to finding income is through investing in Africa. Young Africans including fresh graduates can think of business opportunities which are contributing to the economy. A basic, major way of becoming such is through entrepreneurship. Entrepreneurs, as they called are producing money through their initiative, persistence and creative ideas. These will then be converted to an income generating idea, which will be beneficial to the townsmen. Its easier version is making something, out of nothing.

An inspiring example of an African who took the ladder of entrepreneurship is a self-made entrepreneur, Madam C.J. Walker. She was the 1st member of the family to be born free from her slave parents. She considered herself as a woman who came from the cotton fields of the South, a laundry woman, promoted to be a washtub, then a cook. She fearlessly made a leap towards entrepreneurship when she started to manufacture hair goods and preparations. Her determination and courage saved her family out of poverty, and provided work for her co-citizen.

THE MAJOR PROBLEM IN ENTREPRENEURSHIP

Establishing a business requires capital. It is one of the common problems an entrepreneur faces when realizing a business. It is a universal thought that putting up a business equates to acquiring debt from different financial institution available in the area. One of the ways which young businessmen opt to have a source of capital as a start up to their business is through loans. Loan is one of the easiest source of capital however, majority of these institutions require you to make a business plan and a feasibility study with regards to the business you've chosen.

BEST SOURCE OF CAPITAL

The easiest way to have a capital to an aspiring entrepreneur is through acquiring a business credit card. Business credit card is a guaranteed, practical choice because it does not only provide you a capital but it also enables the holder to keep track of the business' expense. On the other hand, business credit card allows a holder too to be replenished every month. One of the