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Seven Benefits of starting a business in Rwanda

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Starting a business is not always rosy. It can be very challenging sometimes. There are a lot of things you need to consider before you set out to start your business. Entering an already existing market and trying to make an impact doesn’t sound easy; neither is it. In as much as you set out to make profits as you start your business, you could end up running at a loss. It is quite difficult for start-ups to bloom in certain parts of the world. Are you in Rwanda? Are you considering starting your own business? Then see below some benefits of starting a business in Rwanda.

Low-risk factors

The risk of starting a business and its eventual success is low in Rwanda. Rwanda is a peaceful country that is now devoid of terrorism, instability, conflicts, disasters, or corruption. In fact, Rwanda has one of the least corrupt nations on the African continent. They also have a low crime rate, and it is safe to move around the city irrespective of the time. If you have business ideas in Rwanda, you should implement them. All these factors make a business thrive and give you some peace of mind.

Excellent connectivity

The rate at which Rwanda is growing is, in fact, commendable. They have moved out of their ashes and have turned into a beauty to behold. They have one of the fastest internet connections. If you are starting a business and need a guide, you can go online and search, for example, how to create a restaurant in Rwanda, and you will get a number of suggestions.

 We all know that communication is key in all aspects of life; business is no different. You may need to be in constant contact with your business partners, clients, or even suppliers. The internet makes it all easier. There are many free Wi-Fi spots in the city as well as affordable data plans. This makes everything convenient for you.

The capital city has little to no traffic.

For a while now, there have been many pictures of Rwanda’s capital city (Kigali) being circulated all over the internet. You need no one to tell you that that city is probably one of the cleanest in the whole of Africa. You will not find a water sachet or bottle or even a tiny piece of paper on the floor. Everywhere is clean and well kept.

Another benefit of doing business in Kigali is that there is little to no traffic in this city. When you compare many capital cities in Africa and see how congested they are and the traffic over there, you realize that Rwanda is some heaven to you. You can quickly move around easily and attend as many meetings as possible.

It is easy to do business in Rwanda.

One of the safest and most comfortable places to do business in Africa is Rwanda.  They are stable, and their systems work well. It only takes a few hours to get your business operating permit-ready. In contrast, it can take days, weeks, or even months before your business operating permit will be processed in many countries. The incorporation of a business in Rwanda is not stressful and can be done quickly. The business laws in Rwanda are flexible. It is indeed a convenient place to start a business and watch it grow.

Efficient public sector and civil servants

If you are looking for one efficient public sector in Africa, then you should head to Rwanda. Contrary to the norm in Africa, where most public servants are old and worn out, Rwanda makes excellent use of its youth. Rwanda employs a lot of her youth who have just left tertiary institutions to become civil servants. These people are energetic and put in their all to make sure that the economy grows. Their public sector is well organized and has no overlaps, thereby making your dealings with them fast and simple.

They are ambitious

Rwanda is a great country with grand ambitions. They look beyond what they see and set goals and objectives for themselves. They have certain strategic plans with deadlines that they work around to achieve them. They do not play with their goals and are development-oriented. They make sure they put in their all to make sure that what they plan becomes a success. They are go-getters, which would be such an excellent opportunity to be associated with people such as these.

High demand in certain market sectors

Although Rwanda has a relatively small market size, they still have high demands for certain goods on their market. The demand far outweighs the quantity supplied, therefore causing shortages. The government is working hard to rectify this, get investors, and close the gap between the demand and supply forces. This is a good reason you should invest in Rwanda as you would be assured that you will make returns on the amount invested, and you can grow your business.

Aside from these benefits, I would try to answer certain, frequently asked questions (FAQs).

What business can I do in Rwanda?

With the way Rwanda’s growth and economic stability are set up, you can do any business you deem fit for you. You can start your own restaurant, export coffee, get a flower shop, be an event organizer, hair shop (find the best hair dyes for afro kinky hair without bleach). The list is long. You can find other ideas here.

What is the best business to do in Rwanda?

I would love to tell you there is only one best business to do in Rwanda, but in fact, there are numerous avenues for you to try out. Here are some of the best small businesses you can start with little capital; poultry farming, grocery shops, salons, barbershops, and others.                                         

How can a foreigner start a business in Rwanda?

 As a foreigner, you first of all have to register the business. You will need a copy of your passport for this. If it is a branch of a foreign parent company, then you will need more than your passport; you will need a power of attorney, certificate of registration, memorandum articles of association, and others. Look here for a complete list.

How long does it take to register a business in Rwanda?

Setting up a business in Rwanda and registering it can take from a day to a few weeks depending on the type of business. If you need more information, you can check the Rwanda doing business report 2020.

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