How Kenya startup community is cutting costs and turbo charging the economy

In Innovation

Kenya is witnessing the growth of a startup ecosystem involving various players such as corporates, entrepreneurs, incubators, service providers, the government, venture capital companies among others which inturn has created new opportunities for business with an eye on lower cost of doing business:

Co-working spaces

The rising number of young entrepreneurs in the country especially in major cities has seen increased demand for co-working spaces or shared office space presenting demand for office space managers and property investors. Some of the companies doing these include the Nairobi garage at the Mirage in Westlands. Several office blocks that were once empty due to oversupply are now finding market by letting to co-workers who need proximity to town.

Event organizers

A number of entrepreneurs are riding on the high demand for entrepreneur mentorship programs around Nairobi to cash in with new events inviting various key note speakers as they drive ticket sales. The high demand for mentorship provides even more opportunites especially in other cities and counties around the country.

Accounting

Since most startups may not afford to hire accountants and other employees, they choose to outsource their accounting needs from without hence giving opportunities to several jobless accountants in areas such as filing of taxes among others.

Consulting and legal

Due to lack of sufficient staff such as legal and other consultants, startups need consulting services when they need them and this is another opportunity for various skilled personnel to organize themselves to make an income from startup ecosystem.

READ: Sharing to be Kenya’s leading growth driver

Advisory and mentoring organisations

Due to lack of enough job opportunities in the market, many young people are opting to go into business but lack of basic business skills has opened opportunities to mentorship and coaching centers that are teaching skills transfer such as accounting, business plan writing, pitching among others.

Ride sharing

The advent of ride sharing apps has created more jobs with the coming of more players in the market even as prices drop cutting the cost of transport and reducing the need to own a car while improving efficiency.

Startup media

Several small media outlets and micro-blogging sites have also mushroomed to ride the wave of the entrepreneurial buzz not just in Kenya but around the world getting the associated audience especially in technology, agribusiness and mentorship and biting off the growing pie advertising revenue.

Why not identify your best potential and take position in the startup community?

 

 

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