Part-time self-employment in Kenya: tips & tricks
Many dream of becoming self-employed, but only a few dare. Instead of daring to jump in at the deep end, you can become self-employed on a part-time basis. This can make it easier to get started and overcome the first hurdles. But there is a lot to consider if you want to become self-employed part-time. We explain the advantages of part-time self-employment, what you need to know about taxes and what you should pay attention to when starting a part-time business.
Part-time self-employment: advantages and disadvantages
Self-employment alongside the main job is booming. More and more employees want to become self-employed on a part-time basis. The compromise between being employed and building up your own company at the same time is the ideal middle ground for many. In the following overview we present the advantages and disadvantages:
Advantages of part-time self-employment
- Good test run
You can test and find out whether your business idea works at all. Is there a demand, do you find customers? In this way you can check whether full-time self-employment would be worthwhile at all. - Less risk
Of course, self-employment can always fail – whether full-time or part-time. However, the associated risk is lower in this case. Your economic existence is not entirely dependent on success. - Regular income
Probably the greatest advantage for many: You continue to have a regular income from your main job if you become self-employed on a part-time basis. Costs can be covered and the current standard of living is financially secure. - Time leeway
The start of self-employment is often under time pressure. After a short time, profits have to be made in order to be able to live on it. Being self-employed part-time means being able to give yourself more time to set up.
Disadvantages of part-time self-employment
- Double the burden
One thing is clear: if you want to become self-employed as a part-time job, you have to be aware of the double burden. Finding the motivation and energy to start your own business in addition to a full-time job is very exhausting and takes up a lot of free time – which also affects family, friends and hobbies . - Hardly any flexibility
Since they are still tied to the working hours from the job, part-time self-employed people can only react with little flexibility to customer expectations and wishes. This can lead to dissatisfaction and make it difficult to get started. - Less credibility
Some customers and also suppliers have the prejudice : Part-time self-employment lacks professionalism . It is a challenge to convince them of the opposite and to develop credibility . - Financial consequences
The financial risk is lower, but still there. If you become self-employed on a part-time basis and fail, you have to pay the costs incurred and possible debts from your salary and possible savings.
Step by step becoming self-employed part-time in Kenya
Do you want to become self-employed part-time – but how? We have explained step by step what you need to do on the way to successful self-employment as a part-time job :
1. Develop an idea
First of all, of course, you need a brilliant idea with which you want to start your own business part-time. A product or service that you want to offer and for which there is a demand. Also check whether individual requirements have to be met for the implementation. Some activities require specific training or qualifications – you must of course bring these with you or acquire them in advance.
Although the business plan is not mandatory, it is a great advantage for founders. The document contains all the important information about your part-time self-employment: from the idea to a market analysis, financing and desired goals. A business plan provides important orientation for upcoming decisions.
3. Register self-employment
The step that actually turns you into a part-time self-employed person: you have to officially register your activity with the authorities. As a rule, a business registration is necessary for this – exceptions are freelancers who only have to register with the tax authorities.
4. Inform employers
You want to become self-employed part-time, but in most cases you have to inform your boss about it. A look at the employment contract for the specific regulations will help here. In principle, however, the following applies: your employer may not forbid you to be self-employed part-time without a good reason (more on this at the end of the article).