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There are a lot of good business ideas that we have discussed in this blog. Some are so good that we have tried them and made profits.
Others, though—let’s say they are a no-go zone. They form part of the statistics that say, nearly 20% of small businesses fail within the first year.
My thought? They sometimes fail because their owners lack the capital to keep injecting into the businesses, have bad business ideas, and lack marketing.
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In this article, we discuss uncovering financially unstable businesses, and business ideas that are generally bad. Or, if you like, the worst small business ideas in Kenya in 2024.
These are the top 10 worst business ideas that are likely to fail within a year of starting.
1. Quail business
While the costs involved in starting a quail business are minimal and it is easy to scale with ready capital, it is no longer sustainable for the Kenyan market.
This is because there is no ready market for these birds, and the frenzy that most Kenyans had about quails has long passed.
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If you want to keep birds in Kenya in 2024 and quails are on your to-keep list, think twice.
If everything checks out for you, go ahead and start it. However, there is no sustainability in keeping these birds.
If there is, then it is a small market among Kenyans, which cannot help you scale the business.
I guess what I am saying is, the quail business is the worst business to start in Kenya in 2024.
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If you have a different opinion, feel free to leave your comment below.
2. Cybercafe.
There was a time when, if you owned a cyber cafe in Kenya, you could easily make between Ksh. 3,000 and Kshs. 30,000 in a day just offering:
- Internet services
- Printing services,
- Typing services,
- Photocopying services, binding services
- Lamination services
Among other cyber cafe-related services.
But not anymore.
In 2024, there have been a reduced number of cybercafé stores opened countrywide. And the ones that had been operating at optimal levels in the past are also closing down.
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Why?
This is because almost everyone in Kenya now has a smartphone, and the internet is also cheap. Essentially, you could do everything we used to do at the cybercafés with your smartphones.
That said, are cafes the worst business to start in Kenya in 2024?
I’ll let you decide that.
3. Starting a Mpesa business.
The Mpesa business is still one of the best businesses to start in 2024.
Of course, if you have enough capital to serve big clients and assuming you will get those big clients.
But for someone who only has 20k or 30k and wants to start a Mpesa business in 2024, is it a viable business idea?
Or is it worse than owning a cybercafé?
I’d say it’s both a viable business idea to start in 2024 and, worse, to start with a budget of Ksh. 20K or 30K.
Because if you start it with Ksh. 20,000, how much goes into paying rent for the premises?
How much goes into paying for the Mpesa line and the licenses required?
Everything deducted, how much float do you remain with?
And remember, if you constantly preach, “Hakuna float,” you will lose clients. And if you go below the Safaricom set threshold, you might lose your business.
Not to forget that right now, Kenynas also has the option to pay via Mpesa and to use Pochi la Biashara for other businesses. This reduces the need for people to deposit and withdraw money frequently.
What makes Mpesa, imaginably the worst business to start in the year 2024?
- The market for Mpesa business is saturated.
- Commission for Mpesa business is low.
- “Lipa Na Mpesa” and “Pochi la Biashara” businesses are making sure that clients don’t withdraw as frequently as they did.
- Bank to Mpesa transfers ensures that there is a reduced need for cash deposits.
- Risk of theft from employees and robbers alike.
With all those facts, is Mpesa business the worst business to start in Kenya in 2024?
Leave a comment below.
4. Blogging business.
Blogging has always been one of the easiest ways to make money online.
Perhaps because in the past, readers just clicked on ads without asking questions and those clicks ended up adding to the earnings of a blogger.
In 2024, most internet users have learned how ads work and/or even activated ad blockers on their browsers.
Plus, most ads served in Kenya are some of the least paying and a blogger would need to have millions of views or clicks to earn a decent income.
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Something that’s nearly impossible to achieve with SEO in a short time and rather expensive to achieve fast with an advertising budget.
Tell you what, blogging also consumes so much time and it’s quite hectic if you are not passionate about the niche you choose to write on.
5. Bodaboda business.
Boda Boda could be quite a lucrative business if you want to earn Ksh 500 per day and you are doing it yourself.
And it can also be the worst business you’ll ever do in 2024 if you hire out your bike in exchange for a Ksh. 300 pay per day.
Why?
When you give out your bike to riders you expect to be paid Ksh. 300 daily. However, when there is any problem with the bike, the owner is liable.
Do the math.
Ksh. 300 daily for 26 days is Ksh. 7,800.
Spend 500 on oil change, another Ksh. 1,000 for repair and maintenance.
You are left with Ksh. 6,300. Minus siku umeambiwa, “boss, leo hakujakuwa na kazi.”
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Long story short, your new bike will be old by December 2024 before you recover your investment.
Is Boda Boda Business the Worst Business to Start in Kenya in 2024?
You tell me.
6. Online Trading.
There is no way better, easier, profitable, and more lucrative to make money online than online trading.
And there isn’t a better way to lose your life savings than to trade without the required knowledge and experience.
What do I mean?
If you have tried trading, acquired some experience, and feel confident about your trading skills, go ahead and give the market a try.
If you haven’t tried it and are thinking about doing it full-time in 2024, you still have time.
Learn before you earn.
Take your time to go through our YouTube tutorials, blogs, and other trading materials before you put your money on the line in the real markets.
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- $10 minimum deposit
- $10 minimum withdrawal
If it helps, create a demo account for trading to get $10,000 for trading training.
Use this account for practice in real market conditions, risk-free.
Alternative business ideas to worst business ideas in Kenya
Use our business ideas generator tool below to find alternative business ideas you can start in 2024.