Cost of Land Emerges as Most Declined Business Component – UKGCC Survey
By Praisebell Rosemond Larbi
The cost of land has topped the list of most declined business components in the 2025 UK-Ghana Chamber of Commerce (UKGCC) Business Environment and Competitiveness Survey (BECS), overtaking corruption, which fell to fifth place after leading the rankings in previous years.
The survey shows a dramatic shift in business sentiment between 2021 and 2025. While four to six out of every ten respondents believed key business environment components had significantly worsened in 2021, only one in ten held that view in 2025. Analysts attribute this improvement to sustained advocacy by business chambers such as the UKGCC.
According to the report, rising land prices and persistently high lending rates continue to burden businesses, making entrepreneurship costly and restricting expansion. “Double-digit interest rates and escalating land prices are major deterrents to investment,” the survey noted.
Most Improved Component
Availability and access to quality infrastructure emerged as the most improved business component, moving from fifth position last year to first in the latest rankings. The report highlights government efforts to enhance roads, rail, air transport and ports as key drivers of this progress.
Advanced technology, which consistently placed within the top two over the last four years, slipped to fourth. Management skills, newly assessed in this edition entered strongly at third place. Political stability and governance effectiveness also recorded notable improvements, reinforcing investor confidence and enhancing capital flows.
The survey further reveals rising optimism among businesses. Three in ten respondents saw significant improvements in 2024, compared to five to six out of ten in 2025. These gains, according to the UKGCC, are helping reduce operational costs, widen market access and boost competitiveness.
Previously critical concerns such as government bureaucracy, tax policy, security systems and crime-free operations now appear to require fine-tuning rather than major reform. Meanwhile, the share of respondents who view Ghana’s business environment as lagging behind regional and global peers declined from 69% to 58%, signaling a gradual strengthening of confidence.
Overall, the 2025 UKGCC BECS paints a mixed yet increasingly positive picture, acknowledging persistent challenges, including high costs of land, machinery and technology while highlighting growing optimism about market opportunities and the path toward a more competitive business environment.
