10 Best Cities To Start A Business In CameroonPHCS
Almost every individual dreams of starting a business or having a venture that they operate. Yet the study shows that only 4% of newly created businesses manage to survive after years of operation.
Study shows that only over 50% of small businesses failed after the fifth year of operation. this is often a result of some factors discuss below though not all of those factors are liable for these venture failures, however, they contribute to a greater extent.
The purpose of this article is to share with aspiring entrepreneurs, even existing ones, what are the things to consider before jumping into the world of business especially in an emerging country like Cameroon.
Why Start A Business In Cameroon?
Cameroon is a few country rich in natural resources, with great cultural diversity and motivated people, which suggests it’s rustic with tremendous potential.
Business opportunities are often found in many sectors of the country’s economy, especially when it involves harnessing existing potential more efficiently, as an example, to extend productivity within the agricultural sector, expand the utilization of renewable energy or improve business efficiency through the utilization of recent IT systems.
#1 Start a business in Cameroon to Create Jobs
One of the major advantages of starting a business in Cameroon is to enable you to create jobs in society. Starting your own business will enable you to help family members, friends, and those around you.
Some entrepreneurs enjoy being able to give back the opportunity that someone once gave them: a paying job. This altruistic motivation to start a company leads to a sense of satisfaction and intent that keeps entrepreneurs motivated for years to come.
#2 Start a business in Cameroon to escape the 9 to 5 rat race
Starting your own business in Cameron as an entrepreneur helps you escape the rat race of 9 to 5 jobs. The 9 to 5 can be a place where your dreams go to die. Why are we spending so much of our resources and time without first investing in ourselves to help others realize their dreams?
#3 Start a business in Cameroon to Pursue Your Passion
When you create a business out of your passion, you get the chance to help those around you grow. Starting a business in Cameroon out of passion benefits helps expose you to persons of different cultural diversity.
#4 Start a business in Cameroon to Experience Freedom
There is so much freedom you get to enjoy as an entrepreneur in Cameroon. This is because your life gets back to control. Besides freedom, you also enjoy tax benefits as an entrepreneur in Cameroon.
Factors To Consider Before Starting A Business In Cameroon
There are several factors to consider in life before starting a business. These factors apply to each and everyone across the planet. In Cameroon below are some factors one must critically examine before setting up a business.
This is one of the foremost important factors every entrepreneur searches for before venturing into any business, be it online or offline. You ought to access that the situation you would like to start out the business should have a high population rate.
The high population in Douala, Yaoundé, and Bamenda which are densely populated account for the high number of companies operating within this area.
#2 Accessibility to the Road
Where your business will be located should be a very crucial factor to consider before dreaming of having success.
If it’s an offline business, make sure you consider establishing the business close to the road or the visibility of everyone.
Security is one major factor every entrepreneur must consider before starting a business in Cameroon. With the presence of the continued crisis within the North West and South West Region of Cameroon, and insurgency of Boko Haraam in the North,
Entrepreneurs should do a correct security check of the sort of business they need to operate and therefore how secure are they, thus it’s recommended to avoid areas that are susceptible to attacks.
#4 Presence of Touristic attraction in the Area
Presence of tourist attraction which may attract visitors to the world thereby increasing the population and indirectly increasing the probabilities of gaining patronage from them.
This suggests that Some businesses are more likely to flourish than others in towns like Limbe, Buea, Kribi due to the tourist attraction they possess.
#5 Good Environmental and Climatic Conditions
You should also take the climatic condition and environmental factors top reasons before venturing into certain businesses.
Especially businesses in the tourism department such as hotels, restaurants, bars, clubs, etc. In Cameroon Town such as Buea, Limbe and Kribi are just favourable grounds for entrepreneurs to venture into such ground of business.
10 BEST CITIES TO START A BUSINESS IN CAMEROON
#1. DOUALA (1,338, 082 people)
Douala is the largest city and the economic capital of Cameroon.
Douala is one of the most choices of business start-ups among the most successful entrepreneurs in Cameroon, Africa as a whole. Not know for tourism but has some sights that will catch the eye of a tourist such as The Famous Municipal Museum, The Maritime Museum, The Legendary Manga Bell Pagoda, and The Six Area.
Douala also harbors a large number of beaches and local markets. Douala is also the wealthiest among the eleven (11) CEMAC regions.
Major businesses operating in Cameroon with over 1000+ employees are located in this area such as MTN Cameroon, Eneo Cameroon, Elizabeth Glaser Pediatric AIDS Foundation, Nestlé, GlaxoSmithKline, Sogea Satom just to name a few.
#2 YAOUNDÉ (1, 299, 369 people)
Yaoundé is the capital of Cameroon and it’s a city built with modern amenities and facilities. The city is well built with roads connecting other parts of Cameroon. Markets and shopping malls are quite captivating for the local people as well as the tourists.
Yaoundé has many beautiful touristic sites with the famous Unity Palace which is the seat of the presidency and one of the most beautiful presidential palaces in Africa.
Other major touristic sites in Douala include Mefou National Park, National Museum of Yaounde (Le Musee National de Yaounde), Benedictine Museum of Mont-Febe just to name a few.
#3. BUEA (47,300 people)
Buea is notable as one of the starting grounds for most growing businesses in Cameroon. It is the capital of the South West Region.
Buea has many touristic attractions that bring a large sheer number of tourists to the area.
Major touristic sites include Mt Fako (Buea Mountain or Mount Cameroon) which is the highest mountain in West Africa and Mount Cameroon National Park.
Buea is a seat for one of the oldest and famous universities (University of Buea). Major businesses operating in this region including sectors such as education, banking, insurance, hotels, retails, Real Estate, and IT services.
#4. LIMBE (72, 106 people)
Limbe is one major town for most entrepreneurs to start in Cameroon. Limbe also is known as “the town of Friendship” because of the friendly and accommodative nature of the inhabitants.
This makes tourism more fun in the area. Major tourism attraction in the area includes The Limbe Wildlife Centre, the Botanical Garden, the Limbe Down beach, Seme Beach.
A major business that flourishes in this area includes Hotels, Restaurants, Recreation facilities, and transportation just to name a few. Limbe also has an Oil refinery company called SONARA, which is the number production of fuel in Cameroon.
#5. BAMENDA (533,000, people)
Bamenda is the Head Quarter of the North West Region of Cameroon. It is one of the major biggest and populated cities in the region.
The main industries are the processing of agricultural products such as coffee, elementary food processing, handicraft, cottage industry, education (schools), tourism/hospitality, construction works, and transport.
#6. KUMBA (144,413 people)
#7. MAMFE (36, 500 people)
Because of its proximity to the Nigerian border, Mamfe is also home to a large number of the Nigerian population.
Shops are limited to traditional stores only with colourful handicraft items, jewels, and clothes, although one can find an odd number of modern shops in Mamfe.
Major touristic site in Mamfe includes The old German bridge, The Mamfe Cathedral, Mamfe River, Senior District Officer’s House’s tower, and many others just to name a few.
#8. BAFOUSSAM (290,768 people)
#9. KRIBI (55, 224 people)
#10. MAROUA (319, 941 people)
There are some hotels, guesthouses, Banks, travel agencies, and handicraft/art markets that have gained ground in the area.
Major touristic attraction in the area is the Waza National Park, Kalamaloue National Park, Mozogo Gokoro National Park, and the Rhumsiki Landscape.
Maroua is also a seat of a major university in the area, known for having the University of Maroua or Université de Maroua which is one of the major state universities in Cameroon.
Major businesses for start-ups in the area including Hotels, insurance, banking, Food business, Restaurants, and many more.
Starting a business now in Cameroon is just the perfect time you can ever think of. No one said starting a business is an easy task be it online or offline.
However, starting a business now in Cameroon gives you a high success rate and a high chance to grow your business.
By the time many other investors or competitors move into the same geographical area or line of services you are operating, you have already gained a large share of the population.
Do you think there are other best cities in Cameroon to start a business, let us know in the comment section below?