The government has launched a youth empowerment programme called Nyota, it's giving youths a star up capital of 50k, Kiharu members of parliament have been heard suggestion to the government on increasing the amount to 100k, I consider that a misleading opinion coming from a economists expert like him, instead he would be on the forefront in giving the youths business ideas on how to spend the money wisely to start business from scratch, and grow them to be business Empire’s in future with the amount, like for Ovo plc was a youth started business in 2018 after graduation from university as a sole proprietorship business, in the poultry industry doing 1 day broiler chicks that matures in 42 days, and sold to local hotels in Nyeri and in Nairobi city market, this was with a startup capital of 30k and has grown to now a leading technology company in the country.
Here is a breakdown of ideas I could implement if I was in the youths receiving the cash shoes.
First step, is to think and visualise of the business idea I want to start, it can be ,a business I have started before maybe in college but had no capital to boost it, or I want to start it from scratch, when starting a business with such capital you need to introduce a business that is giving direct returns thus a business that will provide a consistent cash flow from day one, so first I need to register my business with the government, on ecitizen and register as a sole proprietorship business, this will help me partner with available financial institutions through opening of a Till number to manage my cash flow, this will also help me qualify for such institutions loans in future, this will help grow my business further.
If it is purely a start up business, I would prioritise investing on an online store shop rather than a physical shop which requires heavy rents, especially in urban areas. Through an online store on WhatsApp, TikTok, X, Facebook or on a website, I can display virtual goods and services that I can deliver on placed orders connections achieved through digital marketing on same social media platforms, this will require me to connect with suppliers eg if am selling shoes, I could visit Kamukunji market Nairobi, exchange numbers with a supplier who will supply me items at a wholesale price and when ever an order is placed, I will alert them to make the delivery.
Advice
"For a business start up business direct returns are not granteed in the first 5 years, but rather a sustainable cash flow those profits reinvesting back is larger advised as the business undergoes growth evolution "
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