Audio By Carbonatix
For Ghanaian exporters partaking of the 2019 Africa Growth and Opportunity Act (AGOA) in New York, USA, the various business sessions and presentations had on doing business in the USA remains priceless.
Organizer of the event, Severin Coulibaly, CEO of the Biziness Group LLC exposed them to key rules and regulations any Ghanaian exporter or business must consider before venturing the US market.
Here are his four rules:
- Lack of knowledge: “Many African and Ghanaian businesses do not know the realities here. In the USA, you have to follow US regulations. Unfortunately, most companies have no clue what the US trade laws require whether it has to do with the FDA or immigration.
- Non-availability of Certification: Before having your product on the shelves of any US market, you must have the required certification that shows you have the go-ahead to do business. Many businesses just jump onto the plane to the US only to get disappointed by US authorities. Without certification from the FDA, EPA or any other US authority, there is no way you can survive, let alone establish in the US market.
- Poor record keeping: Any US investor will want to investigate how much data you have collated regarding your market size, reach, business model and general progress. Let’s face it, Ghanaian and African businesses are doing great but when it comes to good record keeping, most of them fall out in the face of US investors.
- Not adding an international touch: A customer from Ghana is not the same as a customer in the US. Trends change by the split of a second. The US market is a sophisticated one and my Ghanaian and African friends must know this. A product doing great in Accra, Ghana might not survive in the USA or Europe because of consumer preference change. I’m not saying you must change your product entirely. But adding the required international touch is critical.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Tariff hike vs Base pay: Labour Minister Pelpuo says look at the full picture
39 minutes -
New tariff adjustment ignores macroeconomic reality, says ECG Economist
1 hour -
New water tariff only covers GWCL survival needs – PURC explains 15.92% approval decision
2 hours -
Tariff proposal: We rejected all long-term ECG projects – PURC discloses
2 hours -
Galamsey costs, low tariffs make 24/7 water supply unrealistic – GWCL PRO
2 hours -
We’ll try to keep taps running, but not 24/7 – GWCL on new 15.92% approved tariffÂ
3 hours -
We’ll do our best to keep the lights on – ECG assures despite tariff shortfalls
3 hours -
Egypt’s FA wants World Cup ‘Pride Match’ plans cancelled
4 hours -
Suspect in custody after student killed in Kentucky university shooting
5 hours -
Kounde scores twice to give Barcelona victory at Camp Nou
5 hours -
Chelsea’s qualification hopes hit by a loss at Atalanta
6 hours -
Fifa accused of breaching own rules with Trump award
6 hours -
Big result for Slot and Liverpool with no Salah in Milan
6 hours -
The Inconvenient Truth: Deliverism not the Barracks must hold Africa together
6 hours -
We’ll work with what we have to please our customers – ECG assures after tariff cutback
6 hours
