So, you’ve been away from the continent for a long time. Your parents probably moved when you were a child, or maybe you’ve been studying abroad the past few years. And now, after getting world class education, gaining international experience and saving up, you’re thinking of moving back home. But you don’t know if this is the right decision, so you’re looking for convincing reasons. Look no further. Here are three reasons why young Africans in diaspora are moving back to the continent and why you should too:
A common theme in the media today is the Africa Rising narrative. From news of burgeoning economies to a growing middle class and hard-to-miss investment opportunities, the media loves this story of a booming, blooming Africa. That’s why it comes as no surprise that some young Africans in the diaspora are flocking back to the continent to build a life and be part of her growth.
For the young African in the diaspora thinking of moving back to the motherland, some questions that come to mind before making this potentially life altering decision are: “What will I do when I move back? Will I get a job or start a business? And if I want to start a business, what do I need to make it successful?”
Small Teams Don't Necessarily Mean Good Communication: How to Avoid Communication Gaps in Your Startup Team
When you think of what makes a good startup, the first few things that probably come to mind are: how innovative the idea is, who makes up the team, if they are funded, how they make money, and how much press they are getting. While all these, in varying levels, are crucial to the success of a startup, one underestimated component that makes a good startup great is effective communication.
Did you know that according to a GEM report, 100 million businesses are launched worldwide every year? Let’s put that in perspective: at the end of today, about 264,000 businesses would have been formed across the world; and by the time you finish reading this post, over 300 businesses would have been started!
An important part of every business owner’s journey is finding ways to sustain themselves and their business. Some entrepreneurs opt to use their personal savings, some go to friends and family, and some choose to raise funds from external investors. In this post, we will focus on the most popular option these days – raising external funding.
When you start a business, you find that the lines between personal and business expenses blur. Even more so if you own a small or medium scale enterprise without a detailed, functional and adequately staffed organisational structure. You know, those businesses where the owner does everything and manages all business accounts.
One might wonder why it is necessary, or if it is even possible, for small businesses to keep separate accounts from their owner. If you own the business, why shouldn’t you use your personal funds to supplement business expenses and vice versa? After all, you are your business, right? Wrong!
Picture this, Abena has a great business helping people deliver gifts to their loved ones on birthdays and other special occasions. She starts with a few friends and family members, wrapping the gifts in her apartment and delivering them herself. As all great businesses do, hers starts to grow and it moves out of her apartment into a proper office space.
Abena enlists her sister, brother and best friend to help her at work. Over time, problems surface between her best friend, Ekua, and her sister, Nana, because both of them would rather stay in wrapping gifts, leaving the tedious job of deliveries to Abena’s brother, Kweku, who gets easily burned out from all the deliveries.