The rate of unemployment in Africa is growing by the day as global economic growth continues to shrink. Additionally, the inflation rate has continued to soar beyond projected figures. Ghana’s inflation has officially increased to more than 16% (www.statista.com) and unofficially, it could range from 20% to as high as 50% on some commodities, products and services.
This has placed a lot of financial constraints on people as sources of income and salaries remain largely unchanged in the face of the rising cost of living.
The International Monetary Fund’s World Economic Outlook 2022 highlighted that fuel and food prices are increasing rapidly and the most vulnerable populations in low-income countries in Africa are getting hit hardest. Global growth is projected to slow from an estimated 6.1 percent in 2021 to 3.6 percent in 2022 and 2023.
For these reasons and more, people are becoming anxious about their economic sustenance and looking for more disposable incomes. Direct Selling has proven over the years to have helped many people create additional sources of income thereby reinforcing them against penury.
The direct selling business was the original gig economy business before tech companies made this form of flexible employment opportunities popular in recent years. Many businesses around the world use the direct selling business model to promote unique products and services in categories such as wellness and nutrition, personal and beauty care, home care products etc.
For many people, direct selling offers them a great platform to become micro-entrepreneurs and build a sales business promoting such products when they sign up as distributors of direct selling companies. The direct selling industry’s continued growth is not surprising. Historically, this industry has always experienced growth during economic recessions.
During shaky economic times, people have a renewed awareness of the need to establish more income streams and for those who are looking to start a business, direct selling offers an attractive opportunity to start one that does not require a lot of capital or the need to deal with operational and logistics hassles.
Companies with health and wellness products, such as QNET, experienced a significant boost in their sales thanks to increased awareness and personal health concerns brought on by the pandemic. The size of the wellness market worldwide stood at 4.37 trillion U.S. dollars in 2020. This figure is projected to grow to almost seven trillion U.S. dollars by 2025 (https://www.statista.com/statistics/491362/health-wellness-market-value/) This trend will likely persist for some years to come.
Recently, QNET outdoors an enhanced range of products. This has presented many people with the opportunity to engage in an entrepreneurial adventure that could change their financial fortune for the better.
Though there are some misconceptions about the direct selling business in general, QNET is working hard to dispel these misconceptions by providing more information on how the business operates, offering entrepreneurial opportunities, providing multiple ways to earn, and displaying transparency in all business operations. QNET not only seeks to provide customers with high-end health and wellness and lifestyle products but also to provide self-employment opportunities to motivated individuals, especially in these economic times.
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