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Discover why most employed Kenyans have small businesses as their side hustles

According to a new study carried out, the main reason why Kenyans start-up side hudtle jobs are is to unsatisfying salaries.

In a study which was done by Viffa Consultant, among 80 percent of the Kenyans who have side hustles are complaining of stagnating at one point for long.

Also, they remain in the same amount of salary for long despite the rising cost of living.

Therefore, most of the employees who are bored at work or need to take cushion against financial emergencies; they end up having businesses.

The highest percentage of people with side small businesses are men.

This year there is a 12 percent increase in the number of people between 21 to 25 years engaging in businesses than last year.

Additionally, the middle-aged who are between 41 and 50 increased in setting up businesses by 19 compared to last year.

The most lucrative side hustles which are leading in Kenya include agriculture, media, entertainment, and retailing.

The other lucrative industries are transport, IT, manufacturing, construction, financial services, and real estate investment.

In 2019 private sector had a harsh business environment, with some companies laying off more than 1, 700 employees.

This study shows that many people prefer investing in their work so that they can cater for the expenses when retrenchment occurs.

Access to capital was cited as the biggest challenge when it comes to starting side hustles amongst many Kenyans.



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