Entrepreneurship in Liberia
Liberia’s abundant natural resources make it a country with great potential for investment. Liberia’s economic indicators including real GDP, inflation, prices, and exchange rates have shown positive signs. United Nations, U.S. Treasury, the IMF and international non-governmental organizations (NGOs) experts and advisors in the area of forestry, mining, judicial reform and governance are helping to create the conditions for economic growth and sound financial management and accountability.
It becomes apparent that the country could be a place in which to do business, as there are a myriad of factors which should make it attractive to investors including wireless communication, cheap cost of labor and stability. Thanks to the emergence of wireless communications, businesses can easily contact suppliers, employees, customers as well as those within their value chains, something which was not easily done few years back.
Another reason Liberians and others living abroad should consider doing business in Liberia is the low cost of labor. It doesn’t cost very much to maintain a workforce in the country. Many people are paid about $30.00 to $50.00 a month, which is significantly less than what their counterparts in other parts of the world are paid.
Liberia has, in the last two years, enjoyed some semblance of stability, courtesy of United Nations’ troops, which have provided security in the country. The United Nations decided that the United Nations Missions in Liberia (UNMIL) would consist of up to 15,000 United Nations military personal, including up to 250 military observers, and up to 1115 civilian police officers, including formed units to assist in the maintenance of law and order throughout the country.