The Ghana Statistical Service (GSS) is encouraging households to explore small-scale income-generating activities as part of a broader effort to build financial resilience amid Ghana’s shifting inflation dynamics.
While national data reflects a gradual improvement in inflation, many families are still unable to feel the effects where it matters most: at home, in the marketplace, and in their monthly budgets.
For many households, a heavy reliance on fixed salaries means that even as inflation indicators improve, the actual relief is delayed and often inconsistent. Salaries remain unchanged while prices fluctuate, and without additional sources of income, families have little flexibility to adjust their spending, respond to shocks, or benefit from lower production costs that may not immediately translate into lower retail prices. For these households, the cost of living remains burdensome, even when the broader economy shows signs of stability.
It is against this backdrop that the GSS is recommending a shift in mindset, one that encourages self-driven, small-scale entrepreneurship to supplement income and ease household pressures. In its latest guidance, the agency advised:
“Explore small income-generating activities like farming, trading, or home-based services.”
With year-on-year consumer inflation easing to 18.4% in May, and producer inflation dropping to 10.2%, the economic environment is showing signs of calming. But as the GSS notes, these improvements will only make a difference at the household level if families are empowered to participate more actively in the economy.
Opportunities abound for those willing to start small. Backyard farming, growing vegetables like tomatoes, peppers, or kontomire, can supplement food supplies and generate modest income through local sales. Poultry keeping and rabbit rearing are low-cost agricultural ventures that offer quick returns, particularly in peri-urban areas.
Petty trading remains a reliable source of income for many, especially those selling seasonal produce, basic provisions, or everyday items in local markets.
In addition to agriculture and trade, home-based services are growing in relevance. Urban residents can tap into income streams through tailoring, laundry services, hairdressing, and tutoring. The rise of digital platforms and mobile payment systems also opens opportunities for small-scale e-commerce, resale of consumer goods, and on-demand services.
These ventures, while often overlooked, can provide an essential buffer for families navigating uncertain times. They offer not only extra income but also autonomy, giving households more control over their finances and reducing dependence on a single income source.
