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3 Shocks You May be in for When Starting Your Business in Ghana

In most cases, you and your business are qualified candidates for a shock when it comes to starting a business today, particularly in Ghana. Let’s go through these shocks quickly.

Firstly, you must understand that in 2003, that is, 16 years ago, Ghanaians in all, registered
802,176 businesses. Source. We have not even analyzed how many businesses will be registered by the end of 2019. 
Consider the current unemployment rate!

From the SHS Leaver to the University Graduate, everyone is compelled to start something on their own and in their own small way. Analogous to this, you will see businesses starting from rooms to open sheds to kiosks and all.

In 2018, at least 100,000 students completed their National Service and were out for the job search. This was the force behind the formation of NABCo for the 2017 batch of National Service Personnel. Source 

IT GETS COMPLICATED


Moreover, in starting a business, we all know you need a name. Actually, it is not difficult to come up with a name for your business. This is the MAJOR reason for these 3 shocks I am explaining soon. Even from where you are reading this post, I can give you 30 seconds to think and you will have a business name in mind. This is the problem!

SHOCK NUMBER 1

RGD Taken vs Website Taken


You have a business name you are using, say, “Classy Man Phones and Accessories”. 
Now, this business is only known to you and a lot of friends. Unfortunately, you are not the only classy man in town. Someone somewhere has registered Classy Man as their business name at the Registrar General’s Department (RGD), and has even added “phones and accessories”.


To worsen your case, others have also registered Classy Man on the internet as classyman.com, or .net and .org. You are locked out!
So, you have no option than to completely change your business name.
Caution: Your new business name may also be taken!

SHOCK NUMBER 2

RGD Taken vs Website Not taken


Classy Man Phones and Accessories will have to suffer another brutal name attack. In this instance, You go to the Registrar General’s Department to register your business name in mind and your already-built website classyman.net and surprise!
Interestingly, as big as the world wide web is, no one was able to register classyman before you did.

Classy Man Phones and Accessories will have to suffer another brutal name attack. In this instance, You go to the Registrar General’s Department to register your business name in mind and your already-built website classyman.net and surprise!
Interestingly, as big as the world wide web is, no one was able to register classyman before you did.

But shockingly, someone has been swift enough to register it at the RGD before you thought of going there. How do you then balance your business name with your Facebook business page, website, and other social media platforms?

You are bound to change your business name unless you are thinking of evading taxes and still operate. Please be cautious there!

SHOCK NUMBER 3

RGD Not Taken vs Website Taken


Finally, others make the least painful mistake among the 3 shocks. This one can be escaped by a hair’s breadth.
Here, you go to Registrar General’s Department to register your long cherished business name and hurray! You are fortunate enough to have it not taken by another.

At this time, you have registered your business name at RGD but you forgot one little thing. What is that?

You forgot to check on the world wide web for the name availability. This one had you!
Since you love the name so much and do not want to change it, you can opt for another domain name suffix.
For instance, classyman.org or classyman.biz or even classymanphones.com

AVOIDING THE SHOCKS


Writing the shocks without giving you a solution will definitely not be helpful.

To avoid any of these shocks, you have to apply creativity and speed.  What do I mean?

Creativity

Here, let your business name be unique among countless names. This must be such that, no one has registered the name on Facebook, as a website and elsewhere. Be creative and you are safe!

Speed

When you find that the name you want sounds like it’s taken,quickly search out the name on the web. Try this here.

Go to the link above and type in your desired domain name. If it’s available to be registered, you will be notified quickly.

If the name is available, write it down. Quickly go to RGD to register it.
Caution: Someone may have registered it there and so go there with a list of web-available names and you will be safe.

To conclude, ask any questions you have on this topic.

Do this in the comment box below.

Have you suffered any of these shocks lately?
Comment below. Let us learn from your experience

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