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Business Management analysis

Easy Saving Method for Small Earners

Kenyan economy has been degrading for a moment now since when the pandemic struck our country. Most of businesses have been shut down leading to some of workers losing jobs. This is a big problem since the rate of unemployment is growing day in day out. The government has encouraged people to invest more on talents and self employment as a way of curbing this problem. Many people have turned to self employment by venturing to small business where they can earn their daily earning. These small business have been securing something for them despite hard business environment which leads to small profits.

This small profit is what we want to manage and save something out of it to ensure by end of one year you can expand your business. Most of small business owners earn an average net profit of 500 after deduction. This profit can be maximized by end of one year. Assuming you plough back 100 to business, save 300 daily and use 100,, in one month you will have saved 9000. Ensure you keep the consistency in way you save, so it means by half a year you will have saved 9000*6=54000. This is good money which can be used to expand your business or start a new project. With 54000 you can plan to start a small hostel business, selling mitumba and lady shoes or buy a motorbike on loan and pay half of price. Always be wise, keep the culture of saving and you will do wonders. Thanks for reading this article.

Content created and supplied by: djflykicks (via Opera News )



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