Business people and potential investors are showing a significant interest in Kenya; establishing a company in Kenya is appealing given the country’s strong GDP growth rate and position for ease of business.
According to the Office of the United States Trade Representative, the U.S. is the leading importer of goods from Kenya, making the economy strong. The country has an easy time importing things from other continents due to its proximity to the Indian Ocean, and it still offers passage for landlocked countries like Uganda, Rwanda and Burundi.
The government is working to improve the comfort that companies can operate within the country by implementing new rules and modifying existing ones. Below are some reasons you should consider opening an office in Kenya.
High Professionalism among the Graduates
With Kenya being ranked the 7th best country in Africa in terms of education by the Business Insider Africa, it is pretty obvious that it offers qualified personnel for all types of work. Setting up a business in Kenya will give you the advantage of working with skilled people making your work easier. Your company may grow faster than you thought possible because in Kenya people work with a lot of zeal.
An increasing population not only increases need but also increases demand. With an escalation in the size of the people of a country, the home market develops, and with it, a sense of optimism gathers speed along with gradually increasing prices. There is a lot of untapped markets in Kenya with potential for growth due to large customer bases.
Starting a business in Kenya will give you a financial advantage if you find the right strategies to market your business especially due to the large population.
Kenya Is Still Developing
Due to the variations in dialect, customs, business legislation, and customer behaviors, starting a business in a different country or extending an existing one into that nation can be challenging. Entering a third-world country has higher hurdles than moving into a developed country due to the underdeveloped facilities, the disadvantaged population, and the absence of a workforce that has received adequate training.
Although they have their share of problems, developing countries provide commercial opportunities that might not be accessible in more industrialized nations. Businesses can locate low-cost labor, an untapped market, and fewer constraints on doing business, contributing to increased profitability. Another advantage of beginning a business in a foreign country is entering less competitively developed markets. The industry you now work in may be highly competitive on your turf. If, on the other hand, you take a closer look at similar markets in various countries, you can find a practically unexploited opportunity.
Kenya is one of the biggest tourist attraction centers in Africa. Tourism plays a significant part in the growth of the country’s GDP, which contributes to growth in many industries, especially the construction industry. The more tourists in the country, the more houses they will need. A company like Airbnb continues to reap many benefits in Kenya due to the rising demand for vacation homes, especially in the urban regions.
Now, buckle up if you are wondering what makes Kenya a tourist attraction country. For years, Kenya has been labeled as one of the best places for safari tours. A ride in the wild as you watch some of the most exotic animals in the world. The rich and diverse culture has also been a catch for tourists, especially the Maasai culture. You get to enjoy beautiful scenes in the country as you run your business.
Beginning a new venture in a foreign country might provide several obstacles. There are many factors to think about, and it is strongly recommended that an in-depth study be done. The advantages typically exceed the possible drawbacks and may present your organization with many new options that will allow it to advance to the new stage. Think like a business person. They consider increasing their profit margins when opening offices in a new country. Leisure comes last.