In a world where costs are continually climbing while earnings remain stagnant, financial savvy becomes crucial. As parents work hard to support their families, university students are discovering innovative ways to supplement their income.
I had the opportunity to chat with two students who explained their motivations for starting businesses while in school and how they navigate their finances during these challenging times.
Don Ochieng, a final-year accounting student at the University of Nairobi and a student leader, shared his journey of securing funding for his business, which now includes five of his friends as partners.
“I’m focused on business. As a student leader, I used my salary to launch my venture during my second year,” he explained.
“I operate a tuck shop on campus, and I also run a printing service. I’ve enlisted five fellow students to help manage the operations. My goal is to generate profit that I can reinvest into other ventures and save for unexpected expenses.”
Vanessa Muthoni, studying counseling and psychology, has turned her passion for baking into a business called ‘Crust and Crumble.’ What began as a pastime during breaks has evolved into a legitimate side hustle. To maintain her financial health, she emphasizes saving before spending, ensuring she has a financial cushion.
Her advice to fellow students is straightforward: “Just take the plunge. Explore your interests, practice your skills, and identify opportunities to turn your passion into a business.”
Don echoes this sentiment, encouraging his peers to “Develop a business idea and take action; even a small investment can lead to a successful venture.”
“The aim is to grow this business. My message is to focus on entrepreneurship, as we know that many of the wealthiest individuals in Kenya are business owners.”
For university students, it’s essential to delve into your interests and pinpoint a niche that allows you to transform your skills into a thriving business.
