Are you looking to start a business in Kenya in 2023? If so, you’ve come to the right place. In this blog post, we will explore the booming businesses in Kenya for 2023.
Starting a business in Kenya can be a great opportunity for entrepreneurs. In the last decade, the country has seen a surge in the number of small businesses, with many succeeding.
With its growing economy, strong infrastructure, and vibrant entrepreneurial spirit, Kenya provides an ideal environment for entrepreneurs to thrive.
This blog post will look at new and booming business ideas in Kenya.
We’ll cover businesses ranging from e-commerce and digital marketing to maize farming and fleet management. This list should give you a good overview of the opportunities available in the Kenyan market.
Overview of Booming Businesses in Kenya
Kenya is a country that has seen tremendous growth in its business sector over the past few years.
The booming businesses in Kenya are mainly concentrated in the technology, finance, and tourism sectors.
Technology companies such as M-Pesa and Safaricom have become household names in Nairobi, Kenya, while financial institutions like Equity Bank and KCB have made banking more accessible to Kenyans.
Tourism has also been a major contributor to the economy, with many international tourists visiting the country for its beautiful beaches and wildlife reserves.
Additionally, small businesses such as restaurants, retail stores, and transportation services have also seen an increase in demand due to the growing population of Kenya.
All these factors have made Kenya one of Africa’s most attractive entrepreneurship destinations.
Benefits of Starting a Business in Kenya
Starting a business in Kenya can be an exciting and rewarding experience.
With its growing economy and vibrant culture, the country has a lot to offer entrepreneurs looking to make their mark. Here are five benefits of starting a business in Kenya that you may not have considered.
1. A Robust Business Environment
Kenya has an exceptionally strong business environment. Kenya’s government has made it easier for entrepreneurs to set up shop in the country. Several initiatives are in place to help entrepreneurs access the resources they need to get their operations up and running.
2. Abundant Resources
Kenya is blessed with abundant natural resources and a wealth of human capital. These resources can be leveraged to great success when starting a business in Kenya.
There is also a strong emphasis on education, which provides entrepreneurs with a highly skilled workforce.
3. Access to International Markets
Kenya is strategically located at the center of the African continent, making it an ideal location for businesses that wish to tap into international markets.
It also has strong air and sea links, making it easier to conduct global business.
4. A Growing Economy
With a growing middle class, a rising GDP, and a booming tech sector, Kenya is quickly becoming one of the most attractive places in Africa to start a business.
This allows entrepreneurs to capitalize on the growing demand for goods and services.
5. Supportive Government
Although this can be argued, the Kenyan government highly supports entrepreneurs, offering tax breaks and other incentives to those who wish to start a business in the country.
This helps to make getting a business up and running much easier.
From its robust business environment to its abundant resources and supportive government, starting a business in Kenya can be an incredibly rewarding experience.
With the right guidance and support, anyone with a great idea can turn their dreams into reality in the vibrant country of Kenya.
That said, let us look at some of the booming businesses in Kenya.
For new business ideas in Kenya, first, let’s look at online businesses.
With the proliferation of internet access, e-commerce has established itself as a major business in Kenya. Companies such as Jumia, Kilimall, Sendy, and Copia are just a few examples of successful e-commerce businesses in the country.
Yes, the eCommerce business in Kenya is still in its infancy, yet it is already one of the fastest-growing industries in the country.
In fact, Kenya is the 54th largest market for eCommerce, with a revenue of US$1.7 billion in 2021, placing it ahead of Sri Lanka and behind Hungary.
With online shoppers now making up a significant proportion of the population in Kenya, now is the perfect time to start an eCommerce business.
But before you get started, you need to understand what eCommerce entails and the steps involved in starting a successful online business.
What is eCommerce?
Simply put, eCommerce is the sale of goods and services over the internet. It has several advantages traditional retail stores don’t have, such as lower overhead costs, access to global markets, and more.
What are the Steps to Start an eCommerce Business in Kenya?
Starting an eCommerce business in Kenya is much easier than it seems. Here are the key steps you need to take to get started:
- Step 1. Choose your Niche: First, you must decide what products or services you want to sell. You may want to focus on a specific niche, such as clothing, electronics, home decor, or health and beauty products.
- Step 2. Choose a Platform: Next, you will need to choose a platform for hosting your online store. You can choose from popular eCommerce platforms such as Shopify, Wix, or Magento. Or use established marketplaces like Jumia, Copia, and Kilimall.
- Step 3. Find a Supplier: Once you have established your platform, you will need to find a reliable supplier to source products. Make sure to do your research and find a supplier who can provide quality and affordable products.
- Step 4. Create your Store: Now, you can start creating your online store. You will need to choose an eye-catching design, add a payment gateway, and add products or services to your store.
- Step 5. Promote and Market: Once your store is up and running, you need to start promoting and marketing it. You can use various methods to reach potential customers, such as social media, email marketing, and SEO.
As for starting capital, you can start with Ksh 50K – 100K.
These are just some of the steps you need to take when starting an eCommerce business in Kenya. With the right strategy and a bit of hard work, you can have a thriving business in no time. Good luck!
2. Digital Marketing.
Digital marketing has also become increasingly important, and companies are increasingly turning to digital marketing firms to help them reach and engage their target audience.
Not many realize this, but digital marketing is a wide-ranging field that encompasses everything from SEO to web design and development.
As a digital marketer in Kenya, you’ll be responsible for creating and executing effective campaigns to help businesses reach their target audience.
You’ll also be tasked with monitoring and analyzing the performance of campaigns to ensure that businesses are making the most of their strategies.
Now, let’s take a look at the steps you’ll need to take to start a digital marketing business in Kenya.
- Understand the Kenyan Market: Before you launch your digital marketing business, it is important to understand the Kenyan market, the types of businesses in the country, and the customers’ needs. Knowing what potential customers are looking for and how to meet those needs is the key to success in any business.
- Develop a Unique Strategy: To differentiate yourself from competitors, it is important to develop a unique strategy that resonates with your target audience. Consider the demographics of your target market, the kind of campaigns and messages you will be running, and the strategies you will use to reach them.
- Invest in the Right Tools and Resources: Digital marketing requires the right tools and resources to get the job done. Investing in the right tools and resources will help you achieve better results with less effort.
- Educate Yourself: Digital marketing is constantly evolving, so staying up to date with the latest trends and technologies is important. Consider attending digital marketing seminars and workshops, reading blogs and books related to the topic, and networking with other digital marketing professionals.
- Reach Out to Potential Clients: Now that you understand the Kenyan market and have developed a unique strategy, it is time to reach out to potential clients. Cold calling and emailing are popular prospecting methods, but you can also use social media platforms to reach out to potential customers.
By following these tips, you can get into this booming business in Kenya and start making a difference for businesses in the country.
As a digital marketer, businesses you can venture into include offering SEO services and ads management services, among other services.
3. App Development
Smartphone usage in Kenya is rising, making app development a lucrative business opportunity.
According to a report by CA (Communications Authority of Kenya), as of September 2021, 59 million mobile phone devices were connected to mobile networks.
And out of this, over 29 million were smartphones.
If you are in doubt about this industry, consider this; the average cost of developing an Android app costs between Ksh 50,000 to 2 million, depending on complexity and functions.
Here’s something else:
The global mobile application market size was estimated at USD 187.58 billion in 2021 and is expected to reach USD 206.73 billion in 2022.
The process of developing and selling an app in Kenya is no different from any other country in the world.
The first step is to develop a concept and design, followed by a budget and timeline for development.
After that, the app must be tested, debugged, and submitted to the app store.
If you’re looking to get started with app development in Kenya, here are some tips to help you get started:
- Research: Before starting to develop an app, make sure to do your research. Look into the trends in the app store and what people are looking for. You can also research successful apps in the same or similar categories and get an idea of their features.
- Design: Develop a strong design for your app. Focus on aesthetics, usability, and the overall look and feel of the app. Keep the target audience in mind, and try making the app as user-friendly as possible.
- Development: After you have decided on the design, you will need to develop the app. Use a reliable development team and ensure you stay in touch with them during the entire development process.
- Testing: Once the app is developed, you will need to test it for bugs and other issues. Make sure you are thorough in this process and can identify and fix any problems that may arise.
- Submitting the App to the App Store: Once everything is in order, you are ready to submit the app to the app store. This will take some time and may require you to go through a review process.
These are the steps to start app development in Kenya.
You can turn your dream of developing and selling apps into reality with the right idea, dedication, and resources. You can be a successful app developer in Kenya with the right guidance and support.
Blogging is an increasingly popular and lucrative business in Kenya. It is a great way to make money, gain exposure, and develop career opportunities.
On average, a blog owner in Kenya, receiving at least 10K page views per month, makes upwards of 30K per month with high growth potential.
This number can be higher or lower depending on the blog niche and other factors, but that’s the overall picture.
But why now?
Why is blogging so huge right now in Kenya?
The growing internet infrastructure is the first reason blogging is a booming business in Kenya.
As the internet continues to expand in Kenya, more people are gaining access to the internet, which creates more potential for online businesses such as blogging.
And with more people online, there is more potential for readership, engagement, and monetization of blogs.
The second reason is the increasing demand for content.
In today’s digital world, content is king. People are constantly searching for new information, opinions, and entertainment sources. As a result, content creators are in high demand.
Blogging provides an opportunity to fill this need and make money simultaneously.
The third reason?
Low cost of entry.
Compared to other businesses, it does not cost much to START a blog in Kenya.
All you need is a computer, a reliable internet connection, and the knowledge necessary to create content. With these basics, anyone can start blogging and make money for themselves.
Now that you know why blogging is booming in Kenya let’s look at some steps you can take to get started.
- Choose Your Niche. Before you start, you must decide what niche you want to focus on. Do you want to create content related to fashion, technology, travel, or any other topic? Selecting a specific niche will help you create content that appeals to a specific audience.
- Create Quality Content. Once you’ve chosen a niche, it’s time to start creating content. Create content that is engaging, informative, and interesting. Ensure that your content is valuable to your readers and provides them with useful information.
- Promote Your Blog. Once you’ve created your content, it’s time to start promoting it. You can use social media, email marketing, and search engine optimization (SEO) to promote your blog. Using SEO keywords (or synonyms) related to your niche is one of the best ways to get more visibility and drive more traffic to your blog.
- Monetize Your Blog. When you have built up a steady readership, you can start to monetize your blog. You can monetize your blog through affiliate marketing, display ads, and sponsored posts.
These are just a few of the steps you can take to start a successful blogging business in Kenya.
If you’re looking for more tips and advice on blogging in Kenya, you can check out this guide on how to start a blog in Kenya.
5. Booming Online Taxi Business in Kenya
The taxi business in Kenya has experienced an unprecedented boom in recent years as online taxi services have disrupted the traditional transportation sector.
We now have the likes of Uber, Bolt, Wasili, and Littlecaps, among others, who have revolutionized how people travel in Kenya, making it easier, faster, and much more convenient to get around.
This has led to increased demand for online taxi services, resulting in a booming business for those willing to take advantage of the opportunity.
So, what makes online taxi services so popular in Kenya?
Well, the convenience, affordability, and usability of these services is often cited as one of the main reasons for their rising popularity. By providing customers with an easy-to-use booking system, online services can make the process of booking a ride much faster and simpler.
Furthermore, the ability to pay online means that customers don’t have to worry about having the correct change or carrying cash.
In addition to this, online taxi services often provide competitive rates, providing customers with the best value for money.
If you’re thinking of starting an online taxi business in Kenya, here are a few steps you should take:
- Research the Market: Before starting any business, it’s important to conduct thorough market research. You should analyze the competition in the industry, understand the market size and trends, and identify the potential customer segments.
- Get Licensed: To start an online taxi business in Kenya, you must obtain a valid motor vehicle operating license. You also need to have your vehicle inspected and acquire proper insurance.
- Develop an App: Developing an app is essential for an online taxi business. This will allow customers to book a ride and track their journey in real time.
- Hire Drivers: You should hire qualified and reliable drivers who understand the routes and can communicate effectively with customers.
- Promote Your Business: To ensure the success of your business, you need to promote it effectively. You can use digital marketing tools such as SEO and social media marketing.
Overall, the potential for success in the online taxi business in Kenya is extremely high.
You can quickly build a successful business with the right combination of marketing, customer service, and competitive rates.
Furthermore, the convenience and affordability of online taxi services make it an attractive option for customers, meaning that demand for your services will likely remain high.
So, if you’re looking for booming businesses in Kenya, the online taxi business is definitely worth considering.
6. Health and Fitness Training
As Kenyans continue to struggle with health problems like obesity and lifestyle diseases, health and fitness training has become a booming business in the country.
In fact, according to the Spa and Wellness Association of Africa (SWAA) Kenya Chapter, the Fitness and Wellness industry hit Sh5 billion in 2019.
Unsurprisingly, health and fitness training is seen as an important aspect of Kenya’s wellness and health industry.
The reasons for the growth of health and fitness training in Kenya are numerous, but the main reason is the increased awareness and importance placed on health and fitness.
With rising health costs and a changing lifestyle, Kenyans increasingly turn to health and fitness training to help them stay in shape and live healthier lives.
Another factor contributing to the growth of health and fitness training in Kenya is the increasing availability of health and fitness professionals.
As more people become aware of the importance of health and fitness, more professionals are joining the industry and providing quality services to those who need it.
If you’re interested in starting your own health and fitness training business in Kenya, there are a few steps you should take.
First, you’ll need to decide on the type of training you’ll offer. You can choose from personal training, group classes, or even a combination of both.
You’ll also need to decide on your business’s location and the equipment you’ll need.
Second, you’ll need to find a suitable space to operate your business. This could be a physical gym or a virtual training space.
In either case, you’ll need to ensure that you have all the necessary equipment and the right type of environment to make your business a success.
Third, you’ll need to create a marketing plan. This should include targeting potential clients and ensuring they know about your services. Advertising your business in local newspapers and on social media are great ways to reach potential customers.
Finally, you’ll need to develop a pricing structure for your services. Make sure you’re charging a fair price for your services so that people will be willing to pay for them.
By following these steps, you’ll be well on your way to launching your own health and fitness training business in Kenya.
With the right knowledge, commitment, and dedication, you can create a successful business to help Kenyans lead healthier lives.
7. Online Writing Business
Like blogging, online writing is a booming business in Kenya and is a great way to make money from home in Kenya while helping others with their writing needs. There is no shortage of opportunities in this field, from blog posts to web copy, making it one of the most lucrative opportunities for business in Kenya.
For starters, there is a growing demand for content.
As more and more people use the internet, they need content to fill their websites, blogs, and social media pages. This is where online writers come in.
Businesses are increasingly turning to freelance writers to create content for them, providing a steady income for those willing to take up the challenge.
It doesn’t come as a surprise to hear that the gig economy in Kenya is approximately USD $109 million🤯.
Furthermore, the cost of setting up such a business is relatively low. You don’t need an office, staff, or equipment; you only need a laptop, a reliable internet connection, and the ability to write.
Not to forget, you aren’t restricted to local clients when running such a business in Kenya.
You can engage with clients from all over the world (and earn dollars🤑) as long as the quality of your work is awesome.
So, what steps should you take to start an online writing business in Kenya?
- Step 1: Choose a Niche: Before you start, you need to decide what kind of writing you want to focus on. This could be anything from blog posts and web pages to articles and white papers. Once you have identified your niche, you can start to create a portfolio and set up a website to showcase your work.
- Step 2: Build an Online Presence: When starting an online writing business, it is important to build your online presence. This can be done through social media, blogs, email marketing, and other digital marketing strategies.
- Step 3: Secure Clients: Once you have built your online presence and portfolio, you must focus on finding clients. You can do this by pitching your services to potential clients, building relationships on social media, and attending networking events.
- Step 4: Offer Quality Content: The key to success in any online writing business in Kenya is to offer quality content. This means creating content that is interesting, informative, and engaging. It also means being consistent with your deadlines and delivering quality work promptly.
Following these steps, you can easily start a booming online writing business in Kenya and make a living from it.
So, if you have the skills and the dedication, why not get started today?
Kenya is an ideal place to start a business in 2023 due to its growing economy, strong infrastructure, and vibrant entrepreneurial spirit.
This blog post provided an overview of the booming businesses in Kenya, which range from e-commerce and digital marketing to maize farming and fleet management.
These businesses provide entrepreneurs with a variety of opportunities to capitalize on. Entrepreneurs can succeed in Kenya’s business sector with the right strategy and dedication.
I hope this blog post has been encouraging and informative and provided you with the necessary information to find the best business opportunities in Kenya for 2023.