So far, we have covered the perception that self-employed people have to work for long hours and self-employment is much riskier than getting a job. Let’s look at myth number three: You need lots of money to start a new business.

One of the things that discourage most from starting businesses of their own is the fear that they need lots of money as the initial investment capital. I’m pretty sure you have guys saying, “If only I had enough cash to start up a business,” or “I’m looking for someone to invest in my business idea.”

The cost of starting a business depends on the type of business you want to venture into. If dream is to open a factory, such a business will definitely require a large pool of capital. Then again if you are willing to start small and work your way up,  the little that you have can be enough to jumpstart your business idea. Mind you, you don’t need to pour your life savings into your first business. Simply start with what you can afford.

My mother spent close to 25 years of her life depending on traditional employment. The pay wasn’t all that, and, like with most jobs, she was frustrated. When she finally had enough, she decided to begin to start saving up specifically for her own business and slowly started buying what she would need to start her own business. Within less than a year she had bought a computer, table and seat and identified some small office space at an affordable part of town and started her business. Within a year of setting up her business she was able to move to a prime part of the CBD and has over time grown to employ more people for her and the air travel agency is a success.

The idea is simple, in as much as it might cost a lot to start a business, if you are willing to start small and work your way up diligently, you will definitely make your business a success.

Food courts are opening up left right and center and most come with affordable Wi-Fi connectivity. Take the Junction food court for instance, for KES 50 per day you will get unlimited internet all day, for KES 500 per month you will get unlimited internet all month. All you need is your laptop and be at the food court early enough and set up for work. There are several business startup incubators in different parts of town. Identify one that is ideally located and offers all the amenities you need for your business at affordable rates.

I’m not suggesting that any idiot can kick-off a decent self-employment income cheaply. You need to be intelligent to make your business a success. If you are able to put in something small and make it work for you, that by itself will attract potential investors who will be willing to put in their money into your business.

The idea is simple, if you can’t raise huge start-up capital, start-up small and work your way up, starting a business doesn’t necessarily cost a lot. The key word is to start up small.