Business

9 profitable businesses for Kenya in 2023

Kickstart your new year on a fresh note with unmatched unique business ideas that will save you lots of investments.

Businesses have entirely been the stronghold of the Kenyan economy, given that's what everyone depends on for a living. According to research, 2023 will be a year of depression for Kenyans due to the decreased value of the Kshs against the US dollar. To survive 2023, we need to develop strategic plans that will get us to survival tactic mode.

In order to win this fight, we have to come up with ways to have our earnings in dollars instead of Kshs. Due to the hit economy due to the pandemic and the Ukraine war, globally, we are not expecting the economy to be back to normal anytime soon. With us are a few businesses or side jobs you can look up to for a profitable income earned while in Kenya.

If you are looking for ways to increase your investments, this article will help you. Sit back, and let's find out what is needed in terms of business down below;

  • Profitable businesses for Kenya in 2023
  • Conclusion
  1. Airbnb apartments

Give people a far from home feeling with good quality Airbnb experiences that will make them return for more. Imagine the number you will pull with a well-renovated rental house in a clean and safe environment. If you want to settle for these houses, consider the modernized way of renovation. Having Airbnb apartments online and advertising will have you hosting visitors from all over the world and will lead back to you pocketing the cash.

It would be best if you also put in the necessities such as a fridge, microwave, and cooker, among many other home appliances that might prove helpful during their stay. Plan your housing business in such a way that you will go to the extent of setting up an online page for it. Ensure to put the correct details, the amount they are going for, and the location so that people may find you easily. 

  1. Consulting

Have you ever thought about how so many people need professional advice daily? Starting consultancy services would be ideal, given you will be providing professional advice to people and at the same time making your own money. Make plans by networking with other consultants and getting advice from them on ways to go about your business.

You can also check out these top consulting firms in Kenya and see what and how they are doing for them to emerge at the top. Start by advertising your services online, and who knows, you could get clients from outside Kenya and vice versa. The good thing about social media is that it can boost your business and bring people from different places to you.

  1. Freelance writing

This type of business has brought up many from rags to riches. Youths have invested their time in these jobs because the results are good and have many benefits. Imagine having to bid and get multiple assignments simultaneously. 

You will still get paid for all the jobs offered and delivered with freelancing. You don't necessarily need an office for this job, as you can work remotely. Start by signing up to freelancer websites and proceed with registration and the required data fill-in.

  1. Influencing

This is another underrated type of business, but it has more to bring to the table than you can imagine. So many emerging brands are being produced, and the only way for them to be known is by involving well-known influencers to advertise their products. Creating social media accounts like Tiktok and Instagram and building on your content for views and sometimes coins. 

You can work with other well-known influencer marketing companies in Kenya that will have you connected with influencing gigs. Who knows, you might become the next Khaby Lame living the life you deserve best.

  1. YouTube content creation

Do you have a passion for filming and vlogging? If so, proceed to YouTube by creating an account under your name. Start by monetizing your account with google partnered videos, and that's how you will start earning from google AdSense. If you are interested in lifestyle and travel, then nourish it and wear the confidence you need for your subscribers.

  1. Tours and travel

Soon it's going to be a traveling season. Making cash out of your car would be the real deal if you are a four-wheel car driver and good with roads and routes. Tourists from all over the place want to travel and visit different areas, such as national parks, with a big vehicle that can support them. You will be greatly advantaged since you will be paid for your services and sometimes get extra for a well-done job.

  1. Selling e-books

If you have honed skills in writing and are more serious about it, consider posting them online to get people purchasing them instead of killing your writing dream. You will be surprised by the number of people interested in what you have online, as most prefer reading.

  1. Virtual Assistant

A virtual assistant would be good for you if you are good with servicing people online and helping out. You don't necessarily need to commit daily to work and spend much on transportation as you can work in the comfort of your home.

  1. Affiliate marketer

Want to promote people's companies and make a living out of them, then affiliate marketing will be for you. You can look up affiliate marketing networks to see which company offers these services and apply for them. 

Conclusion

Due to the worldwide change in the economy that has led to the exchange rate of Kshs to USD decrease, you might consider investing in businesses that will bring you more cash in dollar form than the ones that will take from. Although it will be your own business, consider implementing new tactics for its betterment. 

Make strategies and also consult with other companies that are in the same industries as yours. The good thing about businesses is that you learn new things daily. Attend webinar events and get to know what you should do for your ideal business—wishing you the best of luck on your business journey! Stay woke to see what will work best for you economically.

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Bellah Mukisa
January 8, 2023

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