The factors affecting the growth of a business are numerous, but will highlight some important and crucial ones. They include;
1. LACK OF SUFFICIENT CAPITAL: African countries mostly lacks sufficient capital to cope with expanding nature of business activities, the level of capital formation is low
2. POLITICAL INSTABILITY: Constant change of government and work have hindered investment in West Africa. Foreign investor are afraid to invest in the sub-region.
3. LOW SAVINGS: The culture of saving is very low in West Africa at large,hence there is no money for commercial transactions.
4.LOW PER CAPITAL: Per capital income is very low, majority of people in the region are living below the poverty line or scale. The low level of income leads to low purchasing power for the people.
5.LACK OF ADEQUATE COMMERCIAL FACILITIES: The various aids to trade,e.g banking,insurance,warehouse,tourism are not well developed and this has greatly hindered commerce.