List Of Provision Items In Ghana

List Of Provision Items In Ghana

There are over 13 Provision items in Ghana

What is Provision?

In financial accounting under International Financial Reporting Standards, a provision is an account that records a present liability of an entity. The recording of the liability in the entity’s balance sheet is matched to an appropriate expense account on the entity’s income statement.

 

How do I organize my shop provision?

Below are the various steps one must take in order to establish a successful provision business in Ghana

  1. Conduct a feasibility study.
  2. Develop a business plan.
  3. Obtain the start up capital.
  4. Choose the right location.
  5. Contact reliable suppliers.
  6. Set up a good pricing strategy.
  7. Stock your shop.
  8. Register your business.

Is provision shop profitable?

This business is so profitable that a good small grocery store makes average of GH5,000 as pure profit everyday. Some items are sold with just N5 gain while some are sold with N500 gain, when you pile up everything at the end of the business day, you would be surprised at the amount of profit you make.