The unemployment rate is at a record high in Kenya. The youth have turned to entrepreneurship as a means of making an income.
However, Generating capital is another hindrance keeping many from starting their profitable businesses.
This article is meant to give you ideas of businesses you can venture into with only 10k in your pocket as starting capital.
The secret is to always plow back your profits into your business. This way you can grow from small-scale to large-scale real quick while growing your money.
1. Farming-one thing is for sure, there will always be a ready market for food products. This assures you of profits and quick income. Fast-moving food commodities include fruits, vegetables, and grains. This is for you with a small garden lying idle.
2. Poultry farming-another lucrative business idea is poultry farming. You can start with buying baby chicks rear then resell. The profit margin is quite significant. Eggs, a by-product of poultry farming are
also an opportunity to leverage.
You can sell the poultry wholesale to hotels or individuals.
3. Selling thrift items-you can maximize profits by buying thrift in bulk and reselling them to your target audience at your price. Online shops are the best place to start before sourcing capital to get a physical location. you only need to take good photos of your items and advertise then deliver the product to your customers. You can sell clothes, bags, and shoes
4. Barbershop and salon industry-in this business all you need is the skill and the most basic equipment to get you started. You do not need a physical venue. To begin with, opt for mobile services. While it saves you money, it will also offer convenience to your customers.
5. Cereals business
The general rule of supply and demand applies here. To make maximum profits, buy cereals during harvesting seasons when they are in huge supply. Store the cereals and sell when the demand is huge and as a result, prices are high.
6. Forex trading-the newest avenue for making money online. With some basic training, the venture has proven to be profitable. The forex business has immense risks and you may end up losing your investment.
7. Baking business-why not turn your favourite hobby into a profit-making venture? What's more, there are readily available step-by-step tutorials online in case you are a complete beginner. Start baking from the comfort of your home and do deliveries to your customers. With ten thousand you can buy ingredients and basic baking equipment.
8. Catering business-if you love cooking and do it to perfection, this is for you. The best part is that you can use the client's deposit to buy ingredients. In the case of a big order, you can employ a few assistants on a contract basis.
However, the success of a business is highly dependent on a variety of factors. Do thorough business and market research to determine which works best for you.