Financial Safety & Wealth/Module 04
Entrepreneurship &
Business Basics
From registering your first business to separating personal and business finances, pricing for profit, and accessing funding.
Educational disclaimer
The content on this page is provided for educational purposes only. It does not constitute personalised financial advice and should not be relied upon as such. SafeHer Foundation is not a licensed financial advisor. Before making any financial decision, please consult a qualified financial professional licensed in your jurisdiction.
Registering a business in Ghana
A sole proprietorship in Ghana can be registered at the Registrar General's Department (RGD) for a modest fee. We walk through the process: choosing a business name, completing the registration form, obtaining a Tax Identification Number (TIN) from the Ghana Revenue Authority (GRA), and what it means to be formally registered versus informal trading. Formal registration opens doors to bank accounts, loans, and contracts.
Separating personal and business finances
This is the single highest-impact financial habit for a small business owner. Mixing personal and business money makes it impossible to know if your business is actually profitable, creates tax complications, and makes your business invisible to lenders. We explain how to open a dedicated business account, even at a mobile money provider, and how to pay yourself a salary from the business.
Basic pricing and profit margins
Many small businesses in Africa run at a loss without knowing it because they price to match competitors rather than to cover costs. We explain: cost of goods sold (COGS), gross margin, operating expenses, and net profit. We walk through a simple pricing formula: (Total costs ÷ units) × (1 + desired margin) = price. We also cover the psychology of raising prices.
Mobile money for business
MTN MoMo Business, Vodafone Cash Business, and AirtelTigo Money all offer merchant accounts that separate business flows from personal wallets, provide transaction statements useful for loan applications, and allow cashless point-of-sale without expensive hardware. We explain how to register for a merchant account and how to share a payment QR code.
Susu and savings cooperatives as business capital
Susu (Ghana), Ajo (Nigeria), and Chama (Kenya/East Africa) are rotating savings and credit associations — community-based structures where members contribute a fixed amount weekly or monthly and take turns collecting the full pot. They are legitimate, effective micro-capital tools. We explain how to structure a susu group for business capital, including record-keeping and conflict-resolution clauses.
Access to women-focused business grants and loans
We document specific programmes: Mastercard Foundation's women's enterprise programmes, GIZ's WIDU programme (West Africa), the Ghana Enterprises Agency's MSME support, and mobile lenders like Jumo and Branch that use mobile money history for credit scoring. All listed opportunities are subject to change and availability — we include links and application tips, not endorsements.