Angola is situated in south-focal Africa and is officially referred to as the Republic of Angola. It is encircled by the Democratic Republic of Congo toward the north, Zambia toward the east, and Namibia on the south. The Atlantic Ocean sits on its west coast.
You may have a desire to start a business in Angola for all the profits that you may be blessed with. For that, you need to be aware and keep yourself genuinely educated about their business culture and worldly issues.
|Benefits of Having a Business in Angola||Drawbacks of Having a Business in Angola|
|Working hours are Monday-Friday (8 am to 5 pm)||Weak workforce|
|Respects punctuality||Lack of educational institutions|
|Building trust is important||Rampant poverty|
Advantages of Having a Business in Angola
- The System of Hierarchy
Having status or a higher position is very important while dealing with business in Angolan culture. Sometimes the decisions are made by the senior-most person of that organization or company. At the same time, certain decisions are made by consulting different staff members or co-workers.
The business structure of Angola is formal and hierarchical. The path to a growing business may be slow since all options have experimented.
Portuguese is the language that Angolan citizens communicate with. Normally all business deals and activities are carried out by speaking Portuguese but the senior-most or head of the company can speak English and uses it as an advantage while speaking to foreign investors.
They give value and respect to titles they have earned and you shall acknowledge it. Introductions are kept very formal and are ended with handshakes.
- Angola is Rich in Minerals
Angola is the second biggest oil and diamond maker and producer. A minerally rich nation that is wealthy in terms of oil, gas, jewels, espresso, sisal, marble and iron, and other valuable assets.
- Export and Foreign Trade is Feasible
An interesting scope of individual business participation benefits and an incredibly experienced set-up of capable members are offered in Angola by The Institute of Export since 1935. They take into account an individual’s interest in this field.
- Dress Code
Even though the business dress codes are semi-formal or semi-casual, due to the hot and burning weather, men show up for work in light-colored suits without the hassle of a tie around their neck.
The dressing code for women in business is limited to long skirts and jackets.
- Government Helps International Trade
The administrative division that can assist you with accomplishing your worldwide business potential is the UK Trade & Investment department of the government. They join the public assets of Consulates and High Commissions, to help you effectively win business abroad.
They treat each business as an individual, offering custom-fitted assistance with expert help in covering a wide scope of enterprises. UKTI administrations can have a genuine effect on your business at a very reasonable price.
- Straightforward in What They Desire
You might not be used to the odd business etiquettes Angolan follow. Angolans are clear in their choices and assessments and will be like that from the first time you meet them. Angolans are said to take as much time is needed while decision making. Patience is the key that works best for business decisions in Angola.
- Income Tax Leeways
All that you earn in Angola will be marked with tax and anything earned from abroad will not be under income taxes. The special case is if an organization working abroad is enlisted in Angola, industrial tax is implemented on it.
You need to learn about the duty adjustment conditions or ‘hypo-tax’ that might be incorporated as a major aspect of their work contract. These conditions work to adjust the pace of duty paid in Angola
The charges on certain necessities like vehicles, lodging, and so on are joined with the significant expense of living and focus on dealing with your pay in Angola.
Disadvantages of doing a Business in Angola
- Lack of an Efficient Transport System
Exchange tracks have been created to maintain a strategic distance from the most exceedingly awful pieces of the street. You need to be cautious and look for street signs showing landmines are available in the zone. The development of proper roads will probably take a very long time in spite of the legislative orders.
- Poor Economy
The nation was a significant exporter of espresso, sisal, and bananas. The civil war has destroyed Angola and left them with no economic resources to make any progress. Angola currently relies upon food imports from Portugal and South Africa.
- Poor Health Facilities
There is a severe lack of health services. Health problems may include cholera, rabies, and African hemorrhagic fevers. Tuberculosis and HIV is believed to infect a huge amount of people.
Other contagious infections like Dengue, filariasis, leishmaniasis, and onchocerciasis are considered normal. The mortality rate in Angola for newborn babies is the highest and they are second for low expectancy for life.
- Lacks Educational Facilities/Resources
Even if Angola has mandatory free education for 8 years. The absence of proper educational structures and buildings have resulted in a specific level of kids that don’t go to class
- Corruption Increases With Time
The most concerning issue you need to be aware of when working together in Angola, an oil-rich nation, is the rate of corruption. Angola holds the 16th position under the category of corrupted nations.
The recent few years have seen senior authorities being put on trial for being involved in crimes and many bank workers are immediately sacked or dismissed.
- Angola Needs High Skilled Workers for Different Industries
A huge percentage of the population in Angola owns the horticulture and tobacco cultivation businesses. There still remains a requirement for skilled engineers, technical experts, and advisors that can help in creating market openings for foreign investors.
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