There are so many beautiful countries across Africa and Sierra Leone happens to be one of the countries in West Africa, on the Atlantic ocean with a remarkable history.
I remember having a conversation with a friend where he said that Africa has little or nothing to offer. I marveled at such a dumb statement because Africa has a lot to offer but people don’t just tend to acknowledge it.
Sierra Leone is known for its vast endowment in minerals which includes; gold, iron ore, diamonds, columbite, platinum, and other promising petroleum potentials.
So if you want to move to Sierra Leone or even visit, it is important you know that you can start a successful business there. And we are here to show you how.
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What does Sierra Leone Produce?
Sierra Leone has a vast land that is suitable for the cultivation of a wide range of crops including rice which is the country’s staple food, cassava, maize, millet, cashew, rubber, vegetables, sugar cane, fruits, ginger, and cash crops like; coffee, cocoa, and oil palm; and the rearing of their livestock.
How to Start a Business in Sierra Leone
Before you start a business in Sierra Leone, it is important you know that unlike other countries in the Sub-Saharan Africa region, it takes approximately 12 days for one to start or register a business in Sierra Leone.
Now, follow these steps to start a successful business in sierra leone.
- Check the uniqueness of the company name and pick up a company registration form.
- Register with the registrar of companies at the office of the Administrator and Registrar General [OARG].
- Obtain tax clearance with the National Revenue Authority.
- Request a business license with the municipality.
- Request with the Ministry of Labor and Social Security. It is required to register native workers with the National Social Security and Insurance Trust [NASSIT].
- Make a company seal. According to the Companies Act, the company must make a formal seal and a common seal.
N/B: The company must have a memorandum and articles of association, and if the standard is considered insufficient, a solicitor can be consulted to prepare one.
Frequent Questions Asked:
Just as there are questions as to how to start a business in Sierra Leone, they are other questions like;
- Is Sierra Leone good for business?
- Where can I register my business in Sierra Leone?
- What are the benefits of doing a business in Sierra Leone?
Below are answers to these troubling questions.
Is Sierra Leone good for business?
According to reports, Sierra Leone is ranked as the 163rd out of 190 economies in the World Bank doing business, and based on the ranking, it means that Sierra Leone’s environment is very conducive for starting and operating a local business.
Where can I register my business in Sierra Leone?
It is mandatory that every business must be registered under the Registration of Business Act, 2007. So you can register your business with the office of the Administrator and Registrar General [OARG]. In a situation where you want to either add or change anything in terms of ownership, address, or business name, you should report to the OARG.
What are the benefits of doing a business in Sierra Leone?
Sierra Leone opens to new and wonderful ideas, it makes you be able to fit into any business environment and communicate well with individuals and deal with businessmen.
Read more fascinating stories about Africa here.