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Ways To Make Money Online

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Everyone’s financial desire is to earn enough and at times, more than enough. This is due to unsatisfied human needs. Keep in mind, making quick side cash isn’t about making a lot of money or getting rich. It’s about getting a shot of capital to help tide you over and put something extra in your pocket.

However, some of these side-income ideas can build up your wealth over time. There are many ways to accomplish this: through sharing economy, participating in the gig economy, passive income techniques, online sales networks, and more.

This article extensively discusses the few easier methods of earning from online engagements, a quest to utilize the ever-growing world technology.

Freelance jobs

Being a freelancer on the Internet is one of the most popular and easier ways of making money at your convenient location. You only need a computer and the internet-which is portable. You can undertake copywriting, programming, graphic design, and several other ramifications and project types.

Online advertising

Through the Internet, a smartly organized SME setup may get excellent results, often competing for side by side with larger corporations. Internet advertising has shown plenty of potential for the near and distant future due to the rising rate it has gained. As traditional media outlets struggle to keep costs down and become more attractive for potential advertisers, the virtual space offers any business the opportunity to achieve amazing results with a budget that is only a fraction of what an advertiser would pay to get the same ROI through traditional media. placing affiliate banners on your site, Using programs such as Google Adsense, and making the most out of pixel advertising, are all excellent ways of earning.

Selling websites and domain names

Day by day, this is becoming an extremely popular area, with a more developing potential. for instance, you can make a small fortune selling today for a nice, short and relevant domain name you had bought a while ago. Check out these ratings for the top five most expensive domains sold in the last few years:

  1. Autos.com ? $2.2 million
  2. Business.com ? $7.5 million
  3. Altavista.com ? $3.3 million
  4. AsSeenOnTv.com ? $5.1 million
  5. Wine.com ? $2.9 million

Affiliate programs

You can choose affiliate hubs where different advertisers offer their banners and affiliate offers. you can manage them using a centralized system, or you can get a single affiliate website that will display their banners on your site. The potential profits that come from affiliate programs are strictly connected to how high your visitor counts are and how targeted those visitors are. This takes us a bit away from affiliate systems and highlights the importance of SEO in any online business. The webmasters who invest money and energy into ethical SEO techniques often notice a very steady increase in traffic, which, in turn, enables them to make more profit from their online business.

Paid surfing and survey filling

There are a number of companies that pay you to surf the web. They display a small ad on your desktop when you are connected to the Internet and give you a percentage of the advertising revenue they receive. The amount per hour is not very big, but there are ways to multiply it by referring to other people. This is really the focus of all these programs. Tell everybody you know that they too, can get paid to surf, and get paid yourself for referring them. Paid surveys are also great since they are easy to fill in and anyone can do that from the comfort of their own home.

E-Commerce

Selling items on amazon is one of the hottest ways of making a lot of cash online. Of course, not everyone is successful at it, but those that keep increasing their profits continuously. Auctions on eBay have a lot of potentials? combine them with dropshipping and you can get a business that’s easy to run and very profitable at the same time.

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  2. Types of Business Loans for Startups and Expansion

Networking

This may not actually be a direct way of earning profits, but you can use MLMs and social networking to generate leads and drive traffic to your online business.

Free stuff online

One cannot get rich while taking advantage of all the free stuff you can get online, but it is fun and rewarding. If you are a webmaster and you wish to create a very popular website, do your best to offer lots of things for free? downloads, software, ebooks, wallpapers and so on.

Work at home jobs

Depending on how much time you are willing to put into a work at home opportunity, you could either do it in your spare time or make it your main income source. Work at home jobs is suitable for everyone: from students to retired people. You do not sign any documents or commit in writing to anything, thus you are not obliged to work if you do not feel like it. In modern society, with parents spending more time at home raising their children and college students looking for a comfortable part-time job, work at home opportunity is the perfect answer.

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Three Global Firms Signed By Nairobi Financial Hub On Its Launch

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Three companies were signed by Nairobi’s international financial centre on the day of its launch. The three include Prudential plc, ARC Ride Kenya and AirCarbon Exchange (ACX).

The Nairobi International Financial Centre (NIFC) is a special economic zone for financial firms.

Prudential, one of the world’s biggest insurers and asset managers, became the first firm to formally join the NIFC.

Singapore-based global carbon exchange ACX came along with Prudential. It seeks to set up a carbon exchange in Kenya.

Check out: Why Buyers Are Now Running Away From Popular Used Toyota Cars

NIFC has also admitted ARC Ride Kenya. It is a new start-up that is going to establish an electric vehicle assembly plant in Nairobi. The plant will produce two and three-wheeled electric bikes and scooters.

Also, the Financial Centre is determined to bolster the manufacturing sector in the country. It has signed an MoU with the Kenya Association of Manufacturers (KAM), to help increase financing and investment in the sector.

NIFC authority has hinted at being in discussion with other participants seeking to join it and will give official news soon.

“Last year Prudential Plc, one of the world’s biggest insurers and asset managers, made a commitment to relocating their Africa headquarters from London to Nairobi and join the Centre. Today we are proud to announce that Prudential becomes the first firm to formally join the Nairobi International Financial Centre,” Vincent Rague, Chairman NIFC Authority.

After many years of waiting, the hub will eye large foreign firms, boosting capital flows to Kenya and the region.

The authority has singled-out four sectors that it will prioritise for growth: financial technology, green finance, investment funds, and becoming a hub for regional multinationals.

The NIFC general regulations have been enacted, as the initial set of tax incentive proposals have been passed.

Also read: The Ultimate Guide to Digital PR

Certification from the NIFC Authority must be applied by Firms considering conducting business through the NIFC.

A 15% corporate tax will benefit firms operating a carbon market exchange or emission trading system under the NIFC. The 15% advantage will happen for the first 10 years of operation.

Companies certified by the NIFC Authority and have invested a minimum of Sh5 billion will benefit from the certainty that, the Capital Gains Tax applicable at the time they make their investments will remain unchanged during the lifetime of the investments.

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Hackers Make Tactical Change, Now Targeting Small Businesses

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Traditionally, cybercriminals have been targeting big companies with aim of demanding ransoms running into millions. Nonetheless, the trend no longer holds, as new studies have shown the shift in hackers’ interest from big companies to small and medium ones.

Studies have shown that hackers are shifting their focus to small online businesses which they believe are more vulnerable.

Experts have warned that these SMEs and payment portals, especially those relying on mobile payment solutions, are now facing high risks of cyber attacks coordinated by these hackers.

Speaking during the inaugural Africa Cybersecurity Congress held in Nairobi, Hadi Maeleb, Agora Group co-founder and CEO said the threats to online businesses were growing at a high rate.

Further, he stated that more than 90% of business owners are unaware that their enterprises are at risk, despite the high growth rate of the attacks.

“Cybercriminals are now targeting small businesses more as they have realized that these enterprises do believe they would be exposed due to their comparatively low turnovers until they lose their data and payments are compromised,” said Mr Maeleb.

With the adoption of e-commerce platforms, State agencies, financial institutions, healthcare, energy and utilities have persistently faced cyber-attacks in the recent past.

According to CAK- Communications Authority of Kenya’s first-quarter data (between January to March 2022), a total of 79.2 million cyber-attacks were reported. This has prompted the government to issue 28,848 advisories in an attempt to fight the rising attacks.

Invest in Cybersecurity

Mr Maeleb noted that business owners should invest in cybersecurity tools as there is no magical solution to cybercrime.

“This ‘democratization’ of cyberattacks is expected to push losses due to business interruption, financial theft, personal data breaches and even ransom payments over the Sh4 trillion mark by end of 2022,” he said.

At the peak of the pandemic, several states adopted tough lockdown measures such as social distancing, working from home, and online learning.

Also read: Why Buyers Are Now Running Away From Popular Used Toyota Cars

Hackers shifting focus to small businesses.

This adoption of digital solutions such as e-commerce, remote working and banking went up as Kenyans turned to online platforms to curb the spread of the coronavirus.

“Unfortunately for them, the business of cybercrime has evolved to a point where attacks like ransomware are now sold as a service,” he added.

Even though these measures triggered the adoption of digital platforms, they also increased vulnerability such as ransom, data breaches, harassment, cyberbullying, and data breaches.

Kenya’s ICT Policy which came into effect in 2006, is credited for creating an enabling environment for the growth and usage of technology.

Kenya’s ICT Policy which came into effect in 2006, is credited for creating an enabling environment for the growth and usage of technology.

To achieve Kenya’s Vision 2030 goal of a regional ICT hub, the tech sector was expected to contribute directly and indirectly to an additional 1.5% of Kenya’s GDP by 2017/2018.

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Why Buyers Are Now Running Away From Popular Used Toyota Cars

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As it has been noted that Kenyans are now running away from the popular used Toyota car models, contrary to what has been a tradition in the country. The rise in their costs has seen even dealers cut down on imports of these vehicles due to decreased demand.

Traditionally, popular models such as Toyota Premio and RAV4 have been synonymous with middle-income earners over the years. However, this is no longer the trend.

Car dealers say more Kenyans are now going for vehicles such as Nissan Sylphy and Mazda, which cost less compared with popular Toyota models.

Toyota Vs Nisaan and Mazda models

According to Charles Munyori, the secretary-general of Kenya Auto Bazaar Association, Nissan Sylphy and Mazda’s CX5 and Axela, are quickly gaining popularity among Kenyans.

Mr Munyori said the price of a Toyota RAV4 has short up to Sh3 million currently from Sh2.8 million in February while a Premio is going for Sh2.2 million from Sh2 million four months ago.

On the contrary, Mazda Axela is now selling for Sh1.6 million with Nissan Sylphy (Blue Bird) going for at least Sh1.5 million.

Currently, consumers find these brands to be the best alternatives to their preferred models, as they are relatively cheaper and good.

Check out: Stabex, Uganda’s largest Oil Company That has Been Linked To DP Ruto

With the rising household costs, these car prices are making them affordable to most Kenyans as they struggle to balance the high cost of living.

“We are seeing a shift where Kenyans are now moving from the popular brands such as Toyota Premio and RAV4 to other models. This shift has been occasioned by the high cost that these cars are now fetching at the market,” said Mr Munyori.

“In fact, most of the car dealers are hardly bringing in Premio and RAV4 models because they are not moving and they will tie up money that they would need for importation of more vehicles,” he said.

Ex-Japanese vehicles

Ex-Japan vehicles dominate the Kenyan second-hand sector with a more than 80% market share.

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The buyers in the sector prefer these cars as their spare parts are easier to obtain locally compared to other brands. Additionally, buyers believe that the resale value of Toyota vehicles are higher than that of other brands like mazda or Nissan.

Reasons for risisng vehicle cost

The rising cost of vehicles in the country has been linked to the unavailability of dollars locally, a shortage of electronic chips in Japan, and a weakening shilling against the dollar.

The country is currently experiencing extreme dollar shortage, that one has to wait for at least three days to get $20,000 or $25,000 from the banks.

“We have to wait for like nine days in order to accumulate $80,000, and this has seen car dealers delay in making their orders. We are really feeling the impact of the dollar shortage in the market,” Mr Munyori said.

banks have imposed regulations on dollar purchase. This has forced traders to face difficulty in meeting their obligations.

Industrialists are forced to start seeking dollars in advance. The shortage puts a strain on supplier relations and the ability to negotiate favourable prices in gap markets.

On the other hand, Semiconductors are used in making electronic devices. Their shortage has forced the vehicle manufacturers to scale down the production. The quantity and quality cannot be maintained with decrease in one of the crucial raw material.

Finally, the shilling has persistently remained weak against the dollar. this has made it costly for importers shipping in goods.

The shilling has hit a record low trading at of Sh 117.06 against the dollar. This predicts a continued rise in imported goods, and signifies a further dollar shortage crisis.

The continuous depreciation in shilling stability is attributed to increased demand for dollars from importers. This highly arises on importaion of crude oil and merchandised goods.

It should be noted that most external debt is repaid in the dollar. Therefore, a weakened shilling increases prices of imported goods, and puts pressure on the country’s debt repayment.

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