Top 5 Hot Low Capital Business Ideas for Kenyan Youth
As a young person in Kenya, identifying a business idea that you can turn into a successful business can be an uphill task. To get that golden idea, one needs to study the market and identify a need that is not being addressed at all or one that is being addressed adequately. The truth is, there are numerous such ideas out there but many young people tend to give up because of the amount of capital requirement. But are there business opportunities there that do not require heavy capital investments? The answer is yes, there are various business ideas that need low capital investments, some of them as low as Kshs. 20,000, to hit the road. Here are five such ideas that are also easy to manage and maintain:
Research shows that 4 out of 10 youth in Kenya own a laptop or have the capacity to own one. With a quick investment of Kshs. 15,000 for a low cost laptop and a modem worth of Kshs. 2,000, you can set up your own online business. There are numerous freelancing sites such as Odesk, iwriter, essayshark or freelance that you can sign up on and begin applying or millions of online jobs available on the global market. If you choose to freelance as a writer, you certainly need to be good in English and have some academic writing knowledge. Also, you need to open a PAYPAL account so you can receive cash from abroad. This business will take several months to pick, but doing great work for your customers is the key to ensuring that you have an unending flow of work.
- Movie Shop
Kenyans love watching movies especially latest releases. You can take advantage of this and set up your own movie shop. All you need to do this is to get a good desktop computer, a business license, a space to run your business, blank compact disks, identify a movie supplier and bond with customers. This business thrives well in estates and the best thing is, the cost of space in estates is way lower than in town areas. You can start this business with a capital as low as Kshs. 50,000.
- Stationery Supply
This is a very simple business to start yet it can make you good business. The catch is, offices are regularly in need of stationary like printing papers, printer catridges, business cards and the rest. In Nairobi, for instance, you can find business card printers who charge Kshs. 2 per piece. If you opt to talk to business or office owners then offer to print them business cards at Kshs. 5 per piece, you will be in business. If you got an order to supply 1000 pieces, you would make a clean Kshs. 3000 only and someone else is doing the printing for you. Another opportunity is to find linkages in schools and offer to supply stationery to them. You can easily get those connections by attending teachers and heads of schools meetings. Schools are always in need of different kinds of stationery and those that are located away from cities like Nairobi will buy at a good price. With a capital of about Kshs. 30,000, you can start this business comfortably and grow it into a multi-million empire.
- Retailing LPG Gas
An LPG Gas retailing business will not require an investment that exceeds Kshs. 100,000. It is a simple business that does not require you to have a special license other than a single business permit from the County Government. You will only need to build a healthy relationship with your gas suppliers that allows you to negotiate a reasonable purchase price. Market your business in your estate, you may want to put up posters informing your target audience what number to call for home delivery. With this type of business, you will need to build good rapport with your clients so they can keep giving you business. Avoid exploiting them, a difference of even one shilling can cause them to shift to your competitors.
- Jewelry Shop
This is an easy business to set up, you only need a capital of Kshs. 30,000 to start it off. You can source jewelry supplies from Nairobi’s Eastleigh area or on alibaba.com. You can purchase jewelry at at a low cost in these sources and resell them to family, colleagues and neighbours for quick profits. As your business grows, consider setting up pages on social media platforms like facebook to continue marketing your business. This is a simple business that you can set up even when you are busy; you just need to find ways of incorporating it into your schedule.
- Wines & Spirit
This business requires a capital of about Kshs. 100,000 but its most difficult aspect is getting a license. Once you get a license, you are set to begin selling. You are likely to get customers coming each day because Kenyans like new joints, they are just curious and want to try them.
- Trade in Shares
Investing in shares is another way to earn money while cultivating your investing skills. Begin paying attention to the numerous companies listed on the Nairobi Stock Exchange and see which ones have prospects for growth. You can purchase units from Old Mutual, Safaricom, Equity, Kenya Power, Airtel and many more. You can start with amounts as low as 500 shillings and keep growing your investments.
These are some of the hot business idea that youth in Kenya can start and run successfully. Remember to pick up a business you can comfortably conduct. Avoid focusing on one business, you may want to try different businesses at the same time.