Lucrative Small Business Ideas Through 2022Kuza Blog

Lucrative Small Business Ideas Through 2022Kuza Blog

In Kenya, 2020 and 2021 have been challenging years that have witnessed a tremendous shift in businesses across all sectors. Some businesses have closed while others have been surviving the effects of COVID-19.

In addition, many who have lost their jobs or are unemployed are looking for different methods for making a living outside formal employment.

Jumping on new trends can sometimes be riskier than rewarding. However, here are some of the best emerging business ideas in Kenya through 2022 which are taking over the consumer market.

Shelf Space Rentals

Today, online vendors are increasing by day thanks to new technology and Covid-19 which is pushing many businesses to the internet space. 

These vendors may be in need of some space to get their customers to view some of the goods they are offering before buying. You can create one and start earning.

These places can also act as pick up and drop off points for business people and their customers.

So that instead of the vendors renting out a stall and probably paying for six months’ rent, they can only rent the space they need to display their items.

Renting shelf space is cost-effective for small businesses, and many are turning into this business model which has also begun taking shape in Nairobi. 

To start this business, you will need to get a good location in an easily accessible area, especially within the CBD of major towns. 

Once you get your space, you will need to create shelves that are large enough to accommodate a good number of items. 

A shelf can cost KSh2500-Ksh5000 a month and if you have shelves, you will make a cool Ksh5000 per month.

Hiring and skills identification services

You might be a human resource graduate or have an eye for talent or skills that you can identify in people looking for employment.

Individual employers and organisations are in need of a skilled workforce and you can be part of the team involved in talent acquisition assess and hiring candidates to fill open positions within an organization.

You can offer other services such as employer branding, future resource planning and the development of a robust candidate pipeline for potential employers.

Beginning this business is a viable idea, especially at this time when many people have lost their jobs or experiencing pay cuts and could be looking for other jobs.

The business will therefore enable you to connect job seekers with employers by identifying, targeting and attracting the most qualified candidates for a given role.

Career coaching

This is another lucrative idea for any entrepreneur out there looking to start something that will not only benefit themselves but also see many who have lost their employments bounce back with good job searching skills.

Indeed, when a person has been in employment for a long time, they lose touch with the job-hunting techniques, which keep changing and this is where you can fit in.

This will enable you help those seeking to increase their career trajectory or grow their personal brands and identify their goals as you earn some cash along.

To be successful in this line of business, you need to plan for it well so as to map out the specifics like cost, your target market, and charge to customers among others.

You can further define your brand to help you stand out from your competitors. Promote and market your career coach business through professional social media platforms like LinkedIn, or create a blog to reach the relevant people. 

A business website to increase your credibility and client reach is also needful.

Social media coaching

Many people are going online with their businesses and social media is proving to be the cheapest means.

However, not all are acquitted to proper social media use to help them reach the needed attention online and start making sales.

As an experienced and knowledgeable social media coach, you can educate business owners or their clients on what is working on their current social media and what needs improvement, where.

In addition, you can help clients develop a solid social media strategy, help them on how to find and use their brand voice and teach them how to perform social media analytics and understand them among other services.

Starting this business requires a solid understanding of social media platforms and how they work. You can take online courses to sharpen your skills and services to gain experience.

Money Transfer Agent

Money transfer services are currently in high demand in Kenya. Some of these services include M-Pesa (the main money transfer service in Kenya), Equitel, KCB Bank, T-Kash and Airtel money transfer services among others. 

The costs involved in money transfer business in Kenya include business registration which is about Ksh10,000, shop or kiosk branding by Ksh5,000 and the rental fee which depends on the location. 

Your initial capital should be around Ksh50,000 and luckily enough, in most cases, the ETR machine is given to you by the money transfer service provider once you meet their minimum requirements.

Depending on where you locate your business, one money transfer service, for instance, M-Pesa, can earn you a minimum of Ksh5000 per month.

Final thoughts

Business opportunities are emerging every day in Kenya with many employing the use of the internet to widen their customer reach. To increase the chances of your business resilience through 2022 and beyond, you need to consider the direction of the business in terms of growth.

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