Why 2018 is the Best Time to Make an Investment

Many startups usually die before they even open doors to consumer for various challenges including lack of or inadequate capital; however, the year 2018, is the best time to see that dream come to life.

The year 2018 is ripe for success and before you are left out, there are a few things you need to know. There are lots of financial sources waiting for you to utilize and get your business going. If you are a serious entrepreneur, you know you had better grabbed this chance.

Currently, in Kenya, there are lots of options to consider that will boost your startup, or if you are looking to expand or grow your small enterprise. All this is possible through mobile money, which apparently has seen some sectors of the economy come to life.

The trends in mobile money are boosting the SME sector and after learning from the success of Safaricom PLC’s M-PESA, foreign and local investors have set their eyes on capital lending based on the data patterns.

Gone are the days when you would queue in banks for loans which you weren’t even sure whether you will get or not. Furthermore, banks then needed a form of collateral, security, in case you didn’t refund the loan.

That’s all change now. There are money lending platforms like Tala, Branch, the recently launched Okash, and myriad others available through mobile banking. Banks, have also embraced the trend and made innovations worth pushing their products while at the same time helping their customers get access to easy credit.

The good thing is that most of the banks now have mobile banking options and can advance loans depending on your needs, your credit history and your repayment period. For the mobile lending apps, if you get the first loan, how fast you repay it qualifies you to another higher loan.

Building a good credit history is easy. How much cash you manage with your mobile money accounts, the people you communicate with, the location among other mobile activities are some of the thigs that are used to build a good report.

Clearly, financial institutions and mobile lending service providers are driving change. The credit market is changing and billions of cash are being lent to people across the country. Furthermore, credit lines are easily accessible now especially when foreign investors are funding banking institutions and tech firms in the country to ensure continuous lending to the ordinary citizen.

Waiting for experts, whining and wallowing in cocoons of pity, not taking risks, and being highly impatient are some of the reasons why you will not progress in your venture. This is why you should grab this chance and soar to success.