With the biting economy and the limited formal employment opportunities in the country, becoming self-employed and having a side hustle is the only way to survive.
If you are looking for ideas to make money, then read on to discover some amazing ideas that might spark your interest. It's important to identify your skills, passions, and interests when choosing a way to make money.
Make sure you research your options, make a plan, and take action to turn your ideas into a successful venture.
Start A Small Business.
Although starting up a business and getting it going might be challenging, being a businesswoman is one of the best ways to make money in Kenya.
You can start a small business selling products or services that you are knowledgeable and passionate about.
Before deciding on a business to identify a gap in the market or a problem that needs to be solved, and then create a business around it. Also, make sure you do some research about the business including the minimum capital you will need, as well as the licences and permits required.
Become A Freelancer.
Becoming a freelancer is another great way to make money without even leaving your home. If you have a specific skill set such as writing, designing, or programming, you can offer your services as a freelancer at a fee.
Many websites offer freelance opportunities, such as Upwork, Fiverr, and Freelancer.com. All you need to do is to set up your profile on a freelancing website of your choice and apply for advertised jobs that match your skills.
Become A Small-Scale Farmer.
Agriculture is a lucrative business in Kenya that you can invest in and make money. If you have a piece of idle land, you can become a small-scale horticultural farmer, poultry farmer, or even a dairy farmer.
Alternatively, if you don’t have a piece of land, you can lease or rent a piece of land and carry out your farming.
Before embarking on farming, however, make sure you do your background research about the water availability in the area, the climate of the place, and the distance to the market.
Invest In Real Estate.
Investing in real estate can also be a profitable venture, that you can invest in and make money. You can buy and sell properties or rent them out for passive income.
Just make sure to do your research to avoid being scammed since there are so many real estate scammers in the country with deals that sound too good to be true.
Offer Childcare Services.
Many working parents, especially in urban areas, are in need of reliable childcare services. If you are good with children, then you can make money from your passion and offer babysitting services or even start a daycare centre.
Online Tutoring.
If you have expertise in a particular subject, you can offer online tutoring services to students in need and make some money.
Trading.
One of the latest popular money-making ventures that have been overly hyped is Forex trading.
Forex trading involves the process of buying and selling currencies with the goal of making a profit. Forex traders aim to predict the future movements of currency exchange rates and use that information to make trading decisions.
Although it’s a very risky venture, forex trading is also quite lucrative. You just have to beware of all the potential risks and losses you might incur in this line of business before investing.
Additionally, you can also invest in stocks and bonds and make some money.
Read Also: The Best Small Business Ideas In Kenya.