How To Make Passive Income In Kenya

Starting your business in another country is not for the faint of heart, but if you’re determined to make it work, there are ways to succeed. One way to do this is by starting an online business. Online businesses don’t require large amounts of capital, nor do they demand that you be proficient in technology.

There are many ways to earn money through the internet – from making YouTube videos to writing blogs and marketing them via social media or SEO (search engine optimization). Many people have made a living off their own creative ideas since the invention of the Internet!

However, before you dive into the world of online entrepreneurship, here are some things you should know about starting a business in Africa.

General tips

If you want to keep up with what others are doing, you will need to use different apps and software. This includes smartphone applications, web browsers, e-mail programs, and more. You can spend hours downloading all of these tools, so try to find ones that are free first.

Many people begin saving money after finding the right app. The same goes for computer programs and software. There are several places where you can get helpful information, and most come with free versions. Some even offer totally free accounts!

Businesses need regular checks on how much money they have spent and how much profit they have made. This is called accounting, and most major companies have software designed just for this.

Create a business plan

how to make passive income in kenya

Creating a business idea that will earn you money passively is the next step. Now, this doesn’t mean sitting around doing nothing all day! In fact, it can be quite the opposite. You must actively work to create your passive income strategy.

The first thing you need to do is determine what type of business model you want to use. This article has some great tips about which types of businesses are best for investing in in Africa.

After reading those articles, check out our list here of ways to make extra money in Kenya. Some of these ideas include: blogging, selling products online, starting an eCommerce store, freelancing, offering services, or even creating your own product or website.

There are so many options! No matter what kind of business you choose, just remember that it should be one that offers enough profit to enjoy life while still keeping up with other commitments.

Fund your business

how to make passive income in kenya

The next step is to find an area of the market that you are passionate about and have some expertise in. You can do this by doing research and talking to people around you to see what areas you are well-versed in.

You can also take courses or lessons on these areas so that you know how to better serve them. This way, you’ll be able to turn those rewards down as passive income!

Alternatively, you can start a side business if you're already working full time. There's no need to make it your main source of income, but instead use it for extra money or motivation while juggling other jobs.

Either way, don't underestimate the value of experience - starting a business requires lots of work and effort upfront, which is why having experience is important.

Pick your business location

how to make passive income in kenya

Choosing your business location is an integral part of starting your online business. You will spend most of your time working from this office, so you want to pick somewhere that feels like home to you.

If possible, choose somewhere close to where you live so that you do not have too long of a commute every day.

You can also consider investing in an apartment or house nearby so that you do not need to rent a room. This way, you do not have to look for accommodation while away.

Consider buying or leasing a condo which can be rented out to help pay monthly bills. Or invest in a small unit at a shared house to reduce costs even more!

Running your own business means that there are no extra overhead expenses - just yourself. So, make sure that you find a space with enough resources to survive until your business picks up.

Write your business plan

how to make passive income in kenya

Now that you have determined how to make money online, it is time to actually do it! Before you start investing large amounts of money into starting an e-commerce site or other ways to earn income via the internet, you must first take some time to prepare.

This means drafting a strong business plan that looks at what your budget can handle and has strategies for success. You want to be sure you know what you are doing before going forward.

You should also consider whether this is truly a good idea before jumping in. Are there any better options? If so, why not try them out instead?

There are many different types of businesses that begin with “making” as their main goal. Some of these businesses go on to become huge successes while others fail to find an audience.

It depends on who you target market is and if they are willing to spend money when you sell products or services to them. This article will talk more about some easy ways to make passive income in Kenya.

Apply for a business license

how to make passive income in kenya

The next thing you will need to do is apply for a business license. This is not hard to do at all! There are many companies that offer free business licenses, so it does not make sense to not look around first.

Most countries have an organization or government agency that oversees businesses and their permits. These agencies can be looking out for general safety of employees, making sure there’s enough money deposited into a bank account, etc. They also play a big role in ensuring that workers are paying taxes properly.

To get your business license, you will have to provide proof of ownership, proof of income (for both yourself as an employee and for the business), proof of residence, and proof of payment of business tax.

These documents don’t need to be very impressive, but they should show clear evidence of what you claim. A passport photo, your driver’s licence, or anything similar will work well. Don’t forget to include your name, address, and phone number with this document.

Open a bank account

Now that you have your domain, website, and hosting sorted out, it’s time to start thinking about how to make money online. The first thing you will need is an easy way to access funds. This is where your banking relationship can come in handy.

Most major banks offer a business savings or investment account option at least once per year depending on what type of business you are running. These accounts give you direct access to cash so you can begin investing immediately!

Many people start their online income by selling products online via sites like Amazon or eBay. Either one of these would be perfect ways to get started if you are already more technologically inclined. By creating an Etsy store or listing items on Amazon, you could both earn good passive income.

These are just some of the many ways you can make extra money online without too much effort.

Fund your business

how to make passive income in kenya

Even if you are not planning to run your own business, as mentioned before, being an entrepreneur is a lot of work. But it does not have to be! Starting your own business can be expensive, which is why most people do not.

There are many ways to fund your business, however. You can sell products or services yourself, hire freelancers to help with marketing, design, etc., invest in other businesses, or start charging for your skills and services.

All of these options cost money, but some are much cheaper than others. For example, investing in another business can sometimes pay off quickly in terms of income.

Many entrepreneurs make good income online via sites like Amazon, eBay, and Shopify. They all require a small amount of capital to get started, and then they take care of the rest.

This article will talk about how to begin funding your business and what types of opportunities are best for you.

Choose your business structure

how to make passive income in kenya

There are several different types of businesses you can run in Africa, so it is important to know what kind of business will be the most effective for your personal situation. You want to make sure that you have considered all possibilities before choosing which one to go with.

The two main types of business structures are either incorporated or unincorporated. In an incorporated business, the company you’re investing in exists already, so there isn’t much extra work involved in starting up this business.

However, you still need to find members who share ownership of the business, as well as people to take care of any legal matters that may arise. This can sometimes be difficult to source due to limited resources and opportunities, but don’t let that discourage you!

Many people start their own business by creating an unincorporated business first and then figuring out how to get investors later. Starting off with an unincorporated business can save lots of time looking for investment capital later on.

About The Author

Tiara Ogabang
Tiara Joan Ogabang is a talented content writer and marketing expert, currently working for the innovative company With a passion for writing and a keen eye for detail, Tiara has quickly become an integral part of the team, helping to drive engagement and build brand awareness through her creative and engaging content.
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