Top 10 Most Profitable Business Ideas in Kenya, 2024

Starting a business isn’t always an easy thing to do.

Why?

Because there are a lot of things involved before you can open your doors for business.

Some of these processes that you have to go through are tedious and not to mention time-consuming.

For example, in order to start a business, you will have to come up with a business idea, do some research on that idea, come up with a business plan, get funding for your business and finally launch it.

That’s a lot of work!

Luckily, there are some Profitable Business Ideas in Kenya that you can start in 2024 without having to go through all of those processes.

And if the business that you have in mind requires you to go through those processes then this article will help you maneuver your way to success without clashing with the authorities.

How to start a small profitable business in Kenya, the right way.

Assuming you already have a business idea in mind and you are ready to execute your plan, what are the necessary legal procedures to follow to ensure your business complies with the law?

1). Name your business.

No matter how small your business is, you need to give it a name.

This name will not only ensure that your business is brandable but will also help you with the business registration process in Kenya.

And why should you register your new business you ask?

Well, business registration has more advantages than disadvantages.

• A registered business can easily get funding when it’s needed.
• Kenyan banks will only allow you to open an account for your business if you are registered.
• You will not get a Lipa Na Mpesa Till or a paybill number for your business until you register a business name.
• A registered business helps create trust between you and the people you do business with.
• It costs less than Ksh. 1,5000 to do a name search for your business and to register the preferred name.

2). Register your business.

In order to register your business with the registrar of companies, you will need to provide the following information:

• Name of Business
• Names and Nationality of Directors/Shareholders (If foreign nationalities, attach residence permits)
• Company’s Address
• Nature of Business Activity and if applicable, Registration Number.
• Contact Persons Details.

But let’s not jump the gun yet, not that fast.

How to register a new business in Kenya.

In order to register a new business in Kenya, you will need to follow these steps:

Register an account on eCitizen by clicking here.

Next, click on create an account either as a Kenyan citizen, foreign resident, visitor, or eBusiness and fill in the required details on the online form to get an instant email verification link.

You will receive a verification code via SMS which you need to enter when prompted after following the link sent to you by eCitizen.

After successfully registering with eCitizen, click on Business Registration Service to begin the business name registration process.

The first step that you will need to take to commence this process is to do a business name search.

How to do a business name search in Kenya (eCitizen).

1. Login to your eCitizen account
2. Navigate to “make application”
3. Click on business name registration if you intend to just “reserve and register a business name.” You can also choose to register a private limited company, public limited company, and/or other types of companies in this section.
4. Click on apply now under business name registration.
5. Next, type in all the business names you have in mind starting from the most preferred business name to the least preferred business name.
6. Save and continue to the next step.
7. Describe the nature of your business and click “save and continue” to the next step.
8. Enter details for business office address and click, “save and continue.”
9. Give ownership information.
10. Review application documents. If you are satisfied, submit those documents, make payment (Ksh. 150) and wait for your business name to reserve

Note: The Business Name is the simplest business form under which one can operate a business. The Business Name is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.

Submit your business name for registration.

If the response you get from the business name search team is that your business name has been reserved, act fast and register your business name within 30 days.

You can do this by again logging into your eCitizen portal with your username and password.

Next, submit your business name through the Office of The Attorney General and Department of Justice.

You can do this by clicking on business registration or on the approved name search.

You will be required to make a payment of Ksh. 850 for this service.

Payments can be made via Mpesa among other methods.

Disclaimer: Only make payments as explained on the eCitizen platform and only to the eCitizen pay bill or alternative methods provided on the platform.

It will take two days to receive feedback for your business name registration.

If approved, go ahead and download your business name registration certificate on the client portal at eCitizen.

3). Create an account for your business.

Now that we have a business name registration certificate for your business, why not create an account for this new business?

You are still not ready for that part did you say?

Well, let me explain why your business needs a separate account from your personal account.

Good for accounting purposes – separating your personal accounts from your business account will help you separate your money from business money.

This not only helps you know how much your business is making but also how much borrowing it needs from your personal account.

Other than that, having a separate account also helps you to not use business money thinking it’s yours.

Having a bank account is more professional – Assuming you just opened your doors without a business account then you get a big client and they want to pay via cheque, don’t you think it will look scammy when you provide your personal account?

Before opening up for business, ensure you create a business account to create confidence in the people you do business with from day one. And to show them how professional you are at running your new business.

Having a business account allows you to accept Lipa Na Mpesa, credit cards among other payment methods.

A business account simplifies tax preparation as you can easily tell how much revenue you generate, expenses, and due taxes.

How to create a bank account for your new business.

In order to create a bank account for your business in Kenya, you will need to visit a bank branch for the bank you want to associate your business with.

Some of the documents that will be required at the bank include: –

1. A board resolution letter to open a business bank account at the bank. It doesn’t matter if your business is a sole proprietorship or a partnership. You will need to provide this document. Write it yourself with your letterhead.
2. Business registration certificate – Download it from the play store if you have already registered in the step above.
3. Your Pin certificate and your business pin – Download from your KRA account. Also, note that business PIN are created instantly on the eCitizen portal when you register your business.
4. Copy of national ID
5. You will be required to make a deposit to the new account provided. This amount varies by bank. It will be used to do a name search for your business and to prove that it exists.

That’s about it if you are registering a new account for a small business with a business name.

If it is a company, on the other hand, you will be required to provide the above documents plus these other documents.

How to create a bank account for your new company in Kenya.

You will be required to download and attach form CR2 to your account application documents.

You can get this document on eCitizen. It is also known as the Memorandum for a company with share capital form.

Other documents required are the CR1 form (downloaded from eCitizen). Don’t panic, it’s part of the documents you filled in during the company registration process.

CR8 form – Or the notice of residential address/change or change of address of the director of the company.

Certificate of incorporation – download from eCitizen.

Note: – Bank deposit made for a business name search may be different from the deposit made for a company name search.

If all this information is confirmed by the bank then your bank account with be active in 3 business days.

If you are still reading this post and you find it informative, consider sharing with yourself or bookmarking the post for future use.

Up until now, our business is ready to open its door. But not until you get a business permit from the county government.

4). Get a Business Permit from the County Government.

While most businesses try to avoid this part after doing everything else, it is recommended you register your business to avoid having issues with the local government.

If the business that you are starting is small then you might need a single business certificate that ranges between Ksh. 5,000 and Ksh. 15,000 depending on the location of the business and the nature of that business.

If you already created a bank account for your business, then consider making this payment from your bank account or from your business till number.

That’s about it for someone who has already figured out the kind of business they want to do.

Starting a new business without a business idea in 2024.

How about someone who wants to start a business in 2024 and still doesn’t have an idea of what to start or where to start it?

Will the process be different?

Well, the process is just the same. Except, you will need to put the process of coming up with a business idea first, follow it with creating a business plan, business registration, creating an account for your business, raising funds for your business…

How to come up with new business ideas in 2024.

There are a lot of tools that you can use to come up with business ideas in 2024. Here are some of them.

• Online tools: Bizplanner, Business Ideas, Industry Analysis
• Personal experiences
• Friends and family input
• Local businesses in your area

a). How to use Online tools like Bizplanner to come up with small profitable business ideas in 2024.

Bizplanner.com is a website that offers free and paid services to users who want to start or grow their business.

The site has different tools that you can use to develop your business ideas, perform market research, write a business plan, track expenses and revenue, and more.

If you want to spend money to come up with a business idea and to write a business plan for it in no time, then this tool will come in handy.

If you don’t want to spend money at this stage of your business though, then continue reading this post to find some of the best small business ideas that we rounded up from the internet to help you get started.

b). How to use personal experiences to come up with profitable small business ideas in 2024.

When starting a small business, personal experiences are one of the best sources for coming up with profitable business ideas.

Think about things that you’re passionate about and experienced in, then use these to brainstorm possible businesses ventures.

If you have ever done any freelance work or provided services to people, there’s a good chance you can start a business around that service.

The best part about using personal experiences to come up with business ideas is that you’re already familiar with the industry, the challenges it faces, and potential solutions.

This knowledge will give you a head start when starting your business.

c). How to use friends and family input to come up with profitable small business ideas in 2024.

When starting a small business, it’s always a good idea to get feedback from friends and family members.

They will be able to provide honest feedback about your business idea and whether they think it’s something people will want to buy.

They can also help you brainstorm other business ideas if the one you have in mind isn’t getting a positive response from your target audience.

d). How to use local small businesses as the source of profitable business ideas in 2024.

Local businesses are another great place for coming up with business ideas because you can get an idea of what they do, what challenges they face, and how many clients or customers they serve.

You can also get an idea about the products or services they offer and how you can improve on what they’re doing.

Local businesses are a great source of inspiration for starting your own business.

Profitable Business Ideas in Kenya to Start in 2024.

If until this point you haven’t quite found a good business idea that fits your needs and the market you wish to serve, then consider starting the business instead.

1). Online business ideas in Kenya (start without investing any money)

Below are some of the best online business ideas that you can start in 2024 without money.

a). Online writing (Start a business in 2024 without Money)

There’s a high demand for writers in the world today.

It doesn’t matter what type of writing you’re good at or whether your sentences are grammatically correct or not, there is still space on the internet to start an online business from home without spending a dime.

If you have a flair for words and can write well enough, then this is the business for you.

To get started, go to sites like Upwork or Fiverr to create an account and to start bidding for online writing jobs.

b). Social media management (Start a business in 2024 without Money)

Businesses today need a strong online presence to reach more customers and grow their brands.

This is where social media management comes in.

As a social media manager, your job will be to help businesses create and manage social media accounts that represent their brand well.

You can start this business by creating a website or blog to attract clients, and then use social media platforms like LinkedIn, Twitter, and Facebook to market your services.

If you really want to start this business without spending money, then consider creating your one-pager profile for free on blogger.com, Tumbler, or medium.

You can also use the platforms to blog about social media management to attract eyeballs to your business.

c). Online tutoring (Start a business in 2024 without Money)

There’s a high demand for online tutors today because of the convenience it offers students.

If you’re good at teaching and have a degree in any field, you can start an online tutoring business and make good money from home.

To get started, create a website or blog to market your services, and then use social media platforms to attract students.

You can also join online communities of students who are looking for online tutors and offer them discounted rates.

d). Virtual assistant services (Start a business in 2024 without Money)

As a virtual assistant, you will be providing administrative and secretarial support to clients who need it but don’t have the time or staff to do it themselves.

This is a great business idea for people who are good at multitasking and have excellent organizational skills.

To start, register on online job market places like Upwork or Fiverr to find potential clients.

You can also use your social media accounts like LinkedIn, Twitter, and Facebook to market your services.

e). Content creation on TikTok (Start a business in 2024 without Money)

If you have a creative mind, then becoming an influencer on TikTok can be one of the best ways to earn extra money in 2023.

You will need to create quality content that’s engaging and gets people hooked on your videos.

To get started, download the app from Google Playstore or App Store and start creating high-quality videos.

You can also use social media platforms like YouTube and Instagram to market your content.

The later after your audience has grown, use affiliate marketing to make money with your TikTok business.

f). Online marketing (Start a business in 2024 without Money)

As an online marketer, you will be responsible for creating and executing digital marketing campaigns for businesses.

This is a great business idea for people who are good at marketing and have a good understanding of digital media.

To start, create a website or blog to market your services, and then use social media platforms like LinkedIn, Twitter, and Facebook to reach more customers.

You can also join online communities of people who are looking for online marketers and offer them discounted rates.

g). Graphic design (Start a business in 2024 without Money)

Businesses today need high-quality graphics to attract more customers and grow their brands.

If you’re good at graphic design, then consider starting a freelance career as a graphic designer if you don’t have the money to start your own company.

To get started, create free accounts on content milling sites like Fiverr or Upwork and seek employment.

Just like with all the other gigs listed here, you can use your social media accounts like LinkedIn, Twitter, and Facebook to market your skills.

New Business Ideas That You Can Start in 2024 to Make Money Fast.

And if you have some money that you can spend to start making money with your new business in 2023 then consider implementing these business ideas.

h). Online Trading (Start business in 2024 with Ksh. 1,000)

If you have some money to invest, then online trading can be a great way to make money in 2024

There are many online trading platforms that you can use to trade stocks, currencies, indices, cryptocurrencies, and commodities.

To get started, open an account with an online trading platform like Olymp Trade and navigate to their knowledge base to start learning about the markets.

h). E-books (Start a business in 2024 with Ksh. 1,000)

eBooks are one of the most popular digital products that people can buy online.

You don’t need to have extensive knowledge about publishing or writing an eBook – you just need to choose a topic and start creating content for your book.

Once your eBook is ready, publish it on Amazon Kindle Direct Publishing or Kobo Writing Life to start selling.

These self-publishing sites are free to join meaning your Ksh. 1,000 starting capital will only be for buying bundles (internet connection)

i). Fruit vending (Start a business in 2024 with Ksh. 1,000)

If you have a bike and some spare time, fruit vending can be a great way to make money in 2023.

To get started, purchase fresh fruits from the market at wholesale prices and sell them around your neighborhood during peak hours.

Wholesalers for juices charge from Ksh. 250 to Ksh. 1,000 depending on the litters of juice you want.

If you want more profits and you have a blender at home, consider blending your own juices.

j). Mtumba (Start business in 2024 with Ksh. 1,000)

Mitumba is very popular in Kenya, especially among the youth.

If you have an eye for choosing good cloth from thousands of other ugly ones, then mitumba can be a great business for you.

You will need to purchase clothes from the market at wholesale prices and sell them at retail prices in your neighborhood or online.

To get started, find a local wholesaler who sells clothes at cheap prices and start buying inventory.

Or go to Gikomba early in the morning to pick camera clothes.

k). Selling Boiled and Roasted Maize (Start a business in 2024 with Ksh. 1,000)

Maize is a staple food in Kenya and it’s always in high demand.

If you want to make some money so fast in 2024, then consider starting a business selling boiled and roasted maize.

You can sell your maize at local markets.

To get started, purchase maize from the market at wholesale prices and start boiling/roasting it.

l). Boiled Eggs (Start a business in 2024 with Ksh. 1,000)

A tray of eggs in Kenya costs between Ksh. 300 and Ksh. 330.

You can buy two trays from the wholesalers near you, boil the eggs and sell for profits.

To get started, purchase eggs from the market at wholesale prices and start boiling them.

You can also add spices to your boiled eggs to give them a unique flavor.

Start hawking in town or in the village to make money.

Untapped Business Ideas in Kenya to Start in 2024

These are business ideas that started in 2023 but aren’t quite popular but can still make you a lot of money within a short time.

j). Play-to-Earn Games (untapped business ideas in Kenya in 2024)

Gaming apps are very popular in Kenya, and there’s a lot of potentials to make money from them.

However, most gaming app developers only focus on developing the games and don’t think about how they can make money from them.

You can start a business in January 2024 by developing gaming apps that offer users the opportunity to earn money while playing the games.

Some of the ways you can make money from your gaming apps include charging users to download the app, selling in-game items, and displaying ads.

Make sure that you design your games in a way that doesn’t frustrate or annoy players so they keep coming back for more.

k). NFT games (untapped business ideas in Kenya in 2024)

Develop NFT games and sell them to businesses who want to market their products or services through chain games.

Or, just make a gaming platform that allows users to create their own NFT games.

As a condition, gift yourself 10% royalties from all NFTs created on your platform.

l). Data Analysis (untapped business ideas in Kenya in 2024)

Businesses are collecting data but most of them don’t know what to do with it.

You can start a business in January 2024 by offering data analysis services to businesses.

Your services will help businesses make better decisions by helping them understand and make use of the data they have collected.

You can also start a business that offers data analysis services to companies.

You will collect and analyze their customer’s data, helping them understand the customers’ needs better.

m). Trade Cryptocurrencies (untapped business ideas in 2024)

Cryptocurrencies are becoming more popular by the day.

You can start a business in 2024 that trades cryptocurrencies for businesses and individuals.

This will help you accumulate wealth over time while also supporting blockchain technology which is taking Kenya by storm.

n). Organic farming (untapped business ideas in Kenya to start in 2024)

Organic farming has been a popular trend in Kenya for the past few years.

It’s expected to continue growing as more and more people become aware of its benefits.

You can start a business in 2024 by going into organic farming full-time or offering it as a side hustle while you develop your other businesses.

To get started, you need to get a hold of some land and start planting organic crops.

You can also start an online store that sells organic produce from your farm.

This is a business that has a lot of potential and is expected to grow in the future.

o). Dropshipping (untapped business ideas in Kenya to start in 2024)

Dropshipping is a business model that allows you to sell products without owning them.

You buy the products from manufacturers and resell them, but only after adding your markup.

This means you don’t have any inventory costs or problems with warehousing goods until they are sold.

In 2024, it’s possible to start a dropshipping business in Kenya because many manufacturers are already registered on online marketplaces like Jumia.

You can start by selling products from these retailers and making your money through your markup.

You will need to register with an online marketplace so you have access to their merchant accounts which allow you receive payments for the items sold.

p). Affiliate Marketing (untapped business ideas in 2024)

Affiliate marketing is a business model where you promote other people’s products and services in exchange for a commission.

This means you don’t need to create your own products or services, which can be difficult and time-consuming.

In 2024, there are many opportunities for affiliate marketing because of the number of businesses that are looking for marketing help.

You can start by finding businesses that offer affiliate programs and signing up for them.

Then, you need to create content or videos that promote the products and services of these businesses.

When someone buys a product through your link, you earn a commission from the sale.

q). E-commerce Business (untapped business ideas in Kenya to start in 2024)

Every year, more and more people are buying items online.

This means that e-commerce is growing in popularity every day.

You can start an e-commerce business in January 2023 by developing your own website where you sell products or working for someone who already has one.

To get started, you need to register a domain name for your website, find hosting services that will host the site, and build it using e-commerce software.

You can then start selling products on your site or working as a supplier where you sell items to people who are already running their own sites.

Most Profitable Business in Kenya to Start in 2024.

Instead of starting a business because everyone else is doing it, why not start your own business in 2023 because you already know how profitable it is?

Some of the most profitable business ideas that we researched and rounded up for you to start in 2023 include,

q). YouTube (most profitable business in Kenya to start in 2024)

If you’re looking for a business that can bring in passive income, then YouTube is one of the best options.

You just need to create some videos about things that interest you and upload them on your channel.

When people watch these videos and like them enough to subscribe, they will start seeing more ads than usual which means money for you.

In 2024, you can start a YouTube channel and make money from the ads that are shown on it.

You will need to create high-quality content if you want to attract more viewers and subscribers.

r). Pharmacy (most profitable business in Kenya to start in 2024)

The pharmacy business is one of the most lucrative businesses in Kenya.

Though it requires some good money to invest and to get started, it is still a good investment to go for in 2024.

You will need to rent a space, stock it with medicines, and set up a small clinic in the back.

In  2024, you can start a pharmacy business by registering with the Pharmacy and Poisons Board.

You will need to have a valid license from the board in order to start operating.

s). Welding (most profitable business in Kenya to start in 2024)

Welding is a skill that is in high demand in Kenya.

This means that you can start a welding business and be sure of making profits within the first few months of starting it up.

You will need to invest in some good welding equipment and set up a workshop where you can do the welding work.

In 2024, you can start a welding business by registering with the Kenya Welders Association.

You will need to have some welding experience and pass an examination in order to be registered as a welder and to start getting quality pay.

t). Courier Service (most profitable business in Kenya to start in 2024)

The courier service is one of the most profitable businesses that you can start in 2024.

You will need to purchase some motor vehicles for transportation to get started.

In January 2024, you can start this business by buying or renting an office space where your couriers can work during their shifts.

You also need to hire some staff who will help you run the business.

u). Car Wash (most profitable business in Kenya to start in 2024)

The car wash business is a very lucrative one and it’s something that is always in high demand.

You will need to set up a small car wash station where people can bring their cars to be washed.

In 2023, you can start this business by renting a space where your car wash station will be located.

You also need to purchase some equipment such as the washing mitt and soap that is used for cleaning cars.

Small-scale business ideas for all ages.

These are business ideas that are good for all ages and can be done on a small scale until you get the capital to expand.

v). Poultry (Small scale business ideas to start in 2024)

If you’re already a farmer, then this is one of the best small-scale businesses to start in 2024.

You just need to purchase some chickens and/or set up an incubator so that you can produce your own eggs for sale.

In 2024, you can buy the chicks from hatcheries or choose to raise them yourself from day one.

Once your business has grown, scale up to make the farm bigger and to begin making more profits.

w). Tailoring (Small scale business ideas in Kenya to start in 2024)

Tailoring is a very lucrative business and it doesn’t require much money to get started.

You will need to purchase some sewing machines and set up a small workshop where you can do the tailoring work.

In 2024, you can start this business by renting a space where your workshop will be located.

You also need to purchase some sewing machines and other equipment that is used for tailoring.

x). LPG gas business (Small scale business ideas in Kenya to start in 2024)

This is a business that is perfect for those who want to start small and grow their business over time.

You will need to purchase some LPG gas tanks and set up a distribution point where people can buy the gas.

You also need to hire some staff who will help you run the business.

y). Milk Distribution (Small-scale business ideas in Kenya to start in 2024)

The milk distribution business entails buying milk from the farmers and then selling it to the consumers.

This is a very lucrative business and it doesn’t require much money to get started.

In 2023, you can start this business by purchasing a few containers of milk from the local farmers.

You will also need to hire some staff who can help you distribute the milk once it has been collected.

z). Cattle Farming (small-scale business ideas in Kenya to start in 2023)

If you already own a farm, then this is one of the best small-scale businesses that you can start with very little capital.

You will need to purchase some cows and breed them so that you can start selling the milk.

In 2024, you will be able to sell your first batch of milk when it becomes available for sale.

Once your business has grown, scale up to make the farm bigger and to begin making more profits.

Bonus Business Ideas for Wholesalers.

If the kind of business that you had in mind is a business that buys in bulk and sells in bulk then why not try your hand at these ideas?

i). Wholesale business ideas in Kenyan (cosmetic stores)

Cosmetics are always in high demand and there is a lot of money to be made in the wholesale cosmetic business.

In 2024, you can start this business by purchasing a few containers of cosmetics from Asian manufacturers and selling in wholesale to retailers in Kenya.

If you are in Nairobi consider opening your cosmetics wholesale store along Dubois road or river road to get targeted clients.

In Kisumu you can set shop in City and in Mombasa you can set shop in the CBD.

ii). Wholesale business ideas in Kenya (wine distribution business)

Kenya is quickly becoming a wine powerhouse in Africa and there is a lot of money to be made in the wholesale wine distribution business.

In 2023, you can start this business by purchasing a few cases of wines from wineries in South Africa and selling them to retailers in Kenya.

You can also consider importing wines from wineries in Chile.

The great thing about this business is that you can make money even if the wine doesn’t sell at all because there are always people who will buy it for weddings, parties, and other events.

People also enjoy buying wines as gifts to take back home with them when they travel abroad so keep your options open!

iii). Wholesale business ideas in Kenya (Milk distribution business)

As mentioned earlier, the milk distribution business is a very lucrative one and it doesn’t require much money to get started.

In 2024, you can start this business by becoming a milk distributor for milk processing companies in Kenya to sell to other wholesalers and retailers.

iv). Wholesale business ideas in Kenya (FMCG distribution)

The FMCG sector is a very profitable one and is always in high demand.

In 2024, you can start the FMCG distribution business by purchasing a few containers of household items from Asian manufacturers and selling them to retailers in Kenya.

Remember that there are opportunities for those who do not have much capital as well!

Conclusion.

There are so many business ideas that you can start in Kenya in 2024 to make money legitimately and to improve your finances in 2024.

You just need to come up with a plan to execute what you are interested in and to make sure that you are well-informed about the market trends in that particular industry.

Even as you consider using these business ideas to start making money in 2024, remember to do your research and consult with experts before starting any business.

I hope you found got value in your time and that you have shared this post with yourself for future use.