With the right idea, some capital and a bit of hard work, you can turn your dreams of becoming a successful business owner into reality in Kenya.
The biggest challenge when starting any business is usually finding enough capital to start. But did you know that there are profitable ventures that you can start with a capital of less than Ksh. 5000?
Here are some of the best small business ideas in Kenya that you can start this year.
Before starting your business research the needs of your target market. Is there a need for children’s clothes, official clothes, or second-hand shoes?
Finally, look for a strategic location with lots of human traffic and your business will thrive.
A cereals store is another small business idea in Kenya that does well and doesn’t need a lot of capital. With a starting capital of around Ksh 20,000, minus overhead costs like rent, you are good to go.
The first thing to do when starting a cereals store is to first identify an ideal location to start your business, preferably a residential area for middle and lower-income homesteads and look for an affordable room with good foot traffic.
Next, identify affordable suppliers for dried cereals like rice, beans, maize, and whatever cereals you plan on selling and buy your stock (if you can source directly for farmers, the better). Get your licence and start your business.
As your cereal store grows, you can increase your stock variety and also even sell a few household items like bread and sugar.
Fruit Vending Business
Although it seems like the market is already saturated with M-Pesa shops, operating an M-Pesa shop is still a lucrative business idea.
To operate an M-Pesa shop as an agent, you must have a registered limited company that has been operational for at least 6 months, with at least 3 outlets that are ready to offer M-Pesa services. You will also need Ksh.100,000 minimum float.
You must provide Safaricom with business permits for each M-Pesa outlet, VAT and tax certificates, IDs, a banking license from a reputable financial institution, and police clearance certificates.
After that, you will fill in the M-Pesa agent head office application form and the M-Pesa agent store application form, after which you will get a till number and can start your business.
With time, you can also expand your business and become a banking agent for several local banks, including KCB, Equity, and Cooperative Bank.
Read Also: The Worst Businesses To Start In Kenya.