Botswana is a country, close to African countries and shares a lot of the political, institutional and cultural norms with it. Now that it has become a biggest attraction for the investors regarding the Banking system, it is among the top 5 of the African countries that are thriving and over taking this industry so well. If you are looking for such a business then Botswana is your way to go option.
Moreover the Botswana is flooded with wild life are so it is also one of the biggest attraction for the tourists of the wild life. So a tourism business is a best option you can opt for in Botswana. Besides that, agriculture and mining are also thriving and related companies can easily be set up and thrive there easily. Leather products factories and companies to sell their products is also one of the main businesses there.
Low Cost Registration
Only 360 P are required for a successful and easy business registration process and you are good to go then.
Efficient and Effective Business Environment
The country has worked hard to reach its current state of autonomy and achieve a steady level of political system.
Botswana is the safest place on the earth regarding peace and thus provides a fertile environment where you can grow and prosper without any fear.
Enforcement of Law
The crime percentage is low and the nation is such that it follows the law so that everyone can work in a peaceful place and grow his business.
Top FICO scorer
The Botswana is one of the countries that have been once ranked in top of the countries with respect to the financial stand point as well as the political dependence in the world.
The expansion has always been kept in check and now is having even a descending detour.
As the other countries of Africa are connected to Botswana with the land, so there is a greater chance to expand your small business or big business to such a wide market.
There is absence of exchange control and has lead to a vast number of people that enter in Botswana to access one of the largest markets.
The World Bank has noted that there have been the monetary changes in the Botswana so that tax assessment system can be improved and there are some strategic planning being done to increase the installment system to let it thrive.
Moreover the taxation values are lower in Botswana and you can own more profit in Botswana.
Data and correspondence innovation ICT has achieved an appreciable level. And now has positive outlook in ICT accompanied by solid innovative work activities being registered in Botswana.
Regards to the finances, Botswana has always aided in this. There are many insurance policies as well as the loan packages that Botswana is offering to attract the foreign investors.
Middle Class Economy
The country was poor at a time but then has improved to become a middle class country in economy. Now the country is working more and more to expand the opportunities and to hail a more numbers of investors to improve its class again.
Botswana has invested a lot to organize an infrastructure such that dams, roads and other things are well built. Moreover the country has worked on providing faculties not only in the urban areas but also in the rural as well as the tourist areas. Airline system is well developed as well as the rail line system in Botswana. The roads are specially built to connect with the closed countries by the roads so the transportation can be done at low costs.
As the rise in economy is recorded, it is evident that there is a lot of potential in the population living in Botswana and hence they are very talented as well as educated. They are punctual in time. Some are conservative and some are liberal. So you have a variety of the population there.
A study also showed that the relations between professionals are stable as well as respectful in Botswana as compared to the other countries of the Africa.
Suitable Inflation Rate
The rate of inflation has been low to attain a predictable as well as stable rate.
Suitable Business Hours
There is no hectic routine, business hours are flexible and there is a good working time there.
Attitude of Citizens
They are welcoming and supporting.
English is widely spoken so there is no issue about tie communication there.
The least degenerate government in Botswana among the African countries has resulted in high levels of corruption.
As the emerging nation, there are a lot of formalities that you will have to encounter when you work in Botswana.
It causes a lot of problem when you quire a large work force to share your business plan and hence you face hindrance in your way to success.
High Cost of Internet
There is a high cost of internet that you will have to pay and it will also hinder in your business plan to work smoothly.
There are legal procedures that take some time more than other countries because the nationis still progressing and has to work more to achieve a level of some steady processes.
There is an excess of red taping in the process of the license issuing as well as getting some permit that make this process a bit troublesome to tackle with.
You need to physically present there or at least have a local partner to look after your business because it is difficult to operate in otherwise cases.
Conflicts between the classes
As the country is a growing economy, so here is class difference that has lead to some issues that occur between low and high class of people.
Local Employment Policy
There is a strong local employment Policy enforced by the government. Some consider it as a positive one while majorly it becomes a drawback when it comes to the skill that is difficult to find innatives. To hire a foreigner for that, you need to gain permit that takes a long process and it becomes hectic too.
South African dominance
There is a dominance of South African business that has led to a competitive environment for any other foreign investor to thrive in such a place.
The business in Botswana is well and promising however it has some drawbacks and you can evade it with a good consultancy and being well aware of the situation. So here we are, open for you, to guide you, to give you a hand in your way to success.