Entrepreneurship is what everyone is into now. It has become a thing for fresh graduates who go unemployed for long after graduating.
According to a survey by the Kenya National Bureau of Statistics (KNBS), 7 million Kenyans are unemployed!
Venturing into businesses has become a viable option to generate income and sustain one’s basic needs.
However, there is a false perception that for you to start a business you require a large capital. That is not true. It all boils down to how well you manage it and how satisfied your customers are.
In fact, with as little as 10K or less, you can run a successful and profitable business.
Here are some businesses you can start with low capital:
Selling second-hand clothes
This is one the most popular business in Kenya, second hand clothes business is booming and if you are looking for a business to start, this would be the best place to.
The good news is that you don’t require a lot of capital to go into the mitumba business. With as little as 1,000 you can start selling mitumba clothes. All you need is to get a good location and know where you will be buying clothes. Most people buy at Gikomba and Muthurwa markets in Nairobi. On average, you can make a profit of Ksh500 a day, while some make up to Ksh10, 000.
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Also in light of this digital era, you don’t need a physical shop to run the business. You can create an Instagram page or Facebook page and advertise the clothes you are selling. Online shopping is convenient and goods sell fast.
Salon or barber shop
While some people may underrate this business it is, in fact, a lucrative business that has the potential of making you good money running into millions.
You can start by visiting clients in their home; make enough money to finally rent out a place. A standard salon or barber stall goes for Ksh6000 to 15,000. From there you can work on getting cash to buy the equipment you need.
Boda boda business
This is one of the lucrative business ideas in Kenya that young people especially are venturing into in large numbers. If you are still looking for a job and have some money saved up, this is a good business start.
A motorcycle in Kenya costs from Ksh.65, 000 to 120,000. It means that with less the 100K, you can go into boda boda business. Dealers work with banks to allow credit facilities, so with some deposit you can get a bike and pay monthly instalments from the earnings.
The good thing about this business is that you can be sure that at the end of the day, you can make a comfortable Ksh1, 000. If you can’t ride it yourself, you can always employ someone.
M-Pesa has grown tremendously into a lucrative business. Even if this business seems crowded, no matter where you are operating at, you can be assured that at the end of the day you will still make a profit.
Opening an M-Pesa business requires you to have at least 100,000 but if someone gives you their line to operate with you only require around 50,000. As with other businesses location is also key.
Instead of keeping on sending numerous job applications without getting any response, whey not better yourself by starting a poultry business? Starting a chicken rearing business requires a seed capital of as low as Ksh20, 000. Profit increases as you increase the number of chicken.
Printing and photocopy
If you are in college or university, this is one of the most profitable businesses you can start. You could also venture into the business if you are living near a college or university. You will need to purchase a computer, printer and photocopy machine.
Boiled eggs and smokies
If you have little capital and looking for small business ideas in Kenya, selling smokies and eggs is a business you can think about. To start the sausage, samosa and egg business you need a capital of around 1,000 for stock.
One egg goes for around 10 bob and then sell at 20 bob. That’s 10 bob in profit. On a good day, you can make a profit of about Ksh.500. in a month you are assured of an income of over Ksh.15, 000. All you need is to find a good location.
The truth is that every woman in Kenya wants to look beautiful and you can tap into this potential by starting a manicure and pedicure business. You can start by doing house calls before you rent a place.
In a conclusion,
The capital you have to start any business does not matter but the determination you have to make it thrive.