More businesses are opening in this area and the population has increased due to the flow of transportation. As is seen, the community dwellers and dwellers from other communities nearby don’t have to spend much time and money to purchase commodities since close to everything is now found in the Duala area due to diversification of several banks and businesses branches.
The growth of economic activities with several parking stations have caused major traffic congestion in the Duala area and businesses are now making expansion into the Red Hill community in Virginia and its environs as a means of taking business to the people. The Red Hill community is spacious where a new chain store is about to open which will accommodate people who may have their parking stations in this area; where some marketers may find their way and will not embarrass the normal flow of traffic.
With growing demand of competition in the business environment, each business is trying to have a grip of its customer’s base which is a delicate issue in every line of business. Competition encourages better services choice and preference. Competition has forced other institutions to move into Duala as a means of satisfying the demand of customers located there who may choose to change due to distance of other institutions.
When goods and services are produced and there are no consumers, it means there is no business. This means that the supply of goods and services along with consumers work together in the going concern of every business. People in those areas of the business environment can easily purchase their wants and needs in a more relaxed manner as compared to a few years ago. The customers can now choose where to go for better service as customer’s service is the base of those businesses and institutions.
As the economy is growing and changing, the needs of people will continue to change while some people needs become the wants of other people. With the population constantly increasing, more businesses are making life better for the communities and people may not have to go to central city (Monrovia) if the need does not arise.
Due to congestion of traffic in the Duala area, it is important that the expansion of the road continues which will alleviate the suffering of commuters and allow a free flow of traffic. The relocation of some parking stations from the Duala area is also a great jump to ease the flow of traffic while a portion of the business environment moves into the Red Hill community.
Most of the businesses in this location are owned and operated by the Fulas and Labenese who are also making an impact on the Liberian economy by providing basic goods and services. With the exception of LBDI, a Liberian Bank, and the rest of the banks in Duala are foreign banks providing banking services. There are also Liberians who are doing petty trading and a few businesses and all of these have made Duala a major business center.
Business in Duala has really grown and the life style of individuals is growing and changing according to changing environment. There are five different bank branches in Duala offering banking services along with MoneyGram and Western Union money transfer services which makes life easier when compared to past years for customers who had to queue up for hours awaiting service.
In meeting the demand for proper and convenient service to customers, many institutions had to diversify their activities in the Duala area since Duala has a large number of customer base. Through this medium more jobs were created especially for Liberians with significant impact on the economy. Expansion of business activities creates more jobs opportunities with an increase in economic activities because more people will be able to sustain themselves, pay taxes to government increase profit and government’s revenue.
Business activities now will be diversified to Red Hill Community through the transfer of some parking stations to increase economic activities in that area. The chain store ideally located will make goods and services easily accessible which will alleviate the problem of transportation for consumers in that area and its environs.