When starting a new business, there are many important decisions to make and many rules and procedures that must be addressed. This piece identifies the bureaucratic and legal hurdles an entrepreneur must overcome to incorporate/and or register a new firm.
One of the first decisions that you will have to make as a business owner is how the company should be structured. This decision will have long-term implications. The legal forms of ownership refer to the form of business organization you are going to register your business in.
An entrepreneur, irrespective of nationality, can set up a business enterprise in Ghana in accordance with the following legal forms of business:
• Sole Proprietorship under the Business Name Act, 1962 (Act 151)
• Partnership under the Incorporated Private Partnership Act, 1962 (Act
• Cooperative business under the Co-operative Societies Degree, NLCD
252 of 1968
• Companies under the Companies Code, 1963 (Act 179).
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Credit: JICA, MoTA