Due to the hard economic times in Kenya, many people who want to start their own businesses never do so because of lack of enough capital.
So, some never launch their businesses, perhaps losing hope altogether in a business idea they once held so dear to their hearts, or maybe because they think waiting a little while is a wise decision.
Many people cannot access loans from the various financial institutions in Kenya because they fear the lender’s fury in case they don’t honour their part of the contract.
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It even gets harder when one does not have enough money saved to start them off. That is why I decided to write this article and the ebook 10 Things to Look at if You Are Thinking of Starting a Business to encourage you to pursue your business dreams however little amount of cash you may have in your pockets.
What can you do with Kenya Shillings 5000 if you want to start a business?
- 1 What can you do with Kenya Shillings 5000 if you want to start a business?
- 2 Examples of businesses you can start in Kenya: 13 business ideas in Kenya you can explore
- 3 What you need to start a business with KSh 5,000
- 4 Download the free PDF ebook 10 Things to Look at If You Are Thinking of Starting a Business in Kenya
The money will certainly be used in acquiring the necessary tools of the trade before anything else. A part of it may also be used in marketing your services or products.
- Secrets of Self-Mastery ebook by Mitch Horowitz
- The Miracle Equation: You Are Only Two Decisions Away From Everything You Want by Hal Elrod
- 21 Irrefutable Laws of Leadership by John C. Maxwell
So make sure that this money is spent on key tools that will be used in service delivery, production, marketing and selling of your products.
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Examples of businesses you can start in Kenya: 13 business ideas in Kenya you can explore
- Coding and selling apps. Sure if you love computers, 5000 shillings would be enough to help you promote and sell addons (for web browsers), create plugins, themes and modules for WordPress, Joomla, Drupal, create custom applications for mobile phones, smart phones, tablets etc. Of course you have to learn some computer languages first and be able to deliver stuff that are worth paying for.
- Farming. Think about putting land into good use – planting crops and selling the harvest. Think about keeping livestock. Think along the lines of poultry and dairy farming. Sure, you can afford to get some animals with 5000 shillings. You’ll start from down, down the ladder, because that is the only direction that gets people to the top.
- Design and painting. Think about interior design, fashion design, graphic design, selling your art, illustrating children storybooks, designing ebook covers, editing photos etc.
- Cleaning services. Think of cleaning floors, windows, compounds, cars, clothes, houses, mowing lawns.
- Copywriting. Able to create content that can help people win more business? It is time to get started as a freelancer.
- Coaching and consulting. Are you good at coaching? Do people always come to you for help on certain areas? Well may be it could be time to offer your services to people out there. Businesses need consultants who can help them realize their mission and visions. Individuals want help with the problems in their lives. People are willing to pay you if you can help them stay focused and work their way towards achieving their goals.
- Have you created a product that will help people, quickly and easily, solve a problem? Well it might be time to get it out there. Got a manuscript? Turn it into an ebook, upload it online, sell and continue marketing it. Better yet, you can an ebook and online course / events.
- Want to own a shop or supermarket some day? Why not start an online shop (or niche auction site) or start buying a few products and selling them for a reasonable profit.
- What is the one thing you are really good at? Ever thought about starting a business along those lines? May be you are good at spotting spelling, factual and grammatical errors. It might be time you considered becoming an editor. Good at fixing computers, phones, cars or anything along those lines? Start offering superior services and charge for them.
- Tutor. Are you good at a particular subject? Can you teach others and help them with their problems? There are people out there ready to pay for music and dance lessons. There are so many people who want to learn foreign languages. There are people who want help with technical subjects and you may be the person they need. They have a need, which you can satisfy, and you’re in business when you start making profits. You can even go ahead and have e-courses of your own.
- Selling water. There are many people in Kenya that don’t have access to piped water. Some are ready to pay Kshs 5 for a 20 litre jerry can. Once the money starts making your pockets heavier, don’t let complacency bind you to today.
- Love cooking? Love baking? There are people in need of cookies and cakes for birthdays, weddings, anniversaries and other occasions. You can start a business that offers great food (17 great food business ideas).
- Transport industry. Want to be in the courier business. Want to be in the public service vehicle industry? Want to ferry goods to different parts of Kenya some do start with boda bodas and climb up the ladder.
What you need to start a business with KSh 5,000
So, if you asked me what business one could start with only Kshs 5000, I’d gladly reply, ‘Any business. Because the money doesn’t necessarily dictate the size or type of business you can start.
Proper management, focus, hard work, top-notch customer service, time and integrity does.’
With this little amount of money, you are going to put in a lot of your time to market and grow your business. The harder you work, the more your initial capital of 5,000 Kenyan Shillings will grow.
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- How to Win Friends and Influence People by Dale Carnegie
- The Ultimate Sale Machine by Chet Holmes.
Then you will just have to keep reinvesting the money back into your business, slowly expanding your business.
You only want to expand when it makes sense; when you are able to sustain the growth without sacrificing the quality customers have become accustomed to getting from you.
So, starting a business with little capital is going to require a lot of hard work, a lot of your time, a lot of learning and fast execution, and a lot of determination.
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- So Good They Can't Ignore You by Cal Newport.
- Master Your Emotions: A Practical Guide to Overcome Negativity and Better Manage Your Feelings by Thibaut Meurisse, Kerry J Donovan
- The Recession-Proof Freelancer: A 12-Point Plan for Thriving in Hard Times by Carol Tice.
You can break even quickly, but remember that most businesses of this kind can take more than a year to start bringing in good profits. So, you are also going to be patient as you consistently work on growing your small business.
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One question for you: Armed with only Kshs 5000, which two business ideas would you consider pursuing? Share your answer in the comments below. Also, check this post and this one for more great ideas.
Download the free PDF ebook 10 Things to Look at If You Are Thinking of Starting a Business in Kenya
PS: If you haven’t yet downloaded your copy of the free PDF guide 10 Things to Look at If You Are Thinking of Starting a Business in Kenya.