In business and entrepreneurship at large, the location to set up your operations is very integral and so is many other vital issues that need deliberation before launching your enterprise.
Eldoret town is an investment hub in Kenya’s North Rift region that is experiencing rapid expansive economic growth – the latest cases being Java and KFC branches which are high-end food joints that kicked off their operations at Rupa’s Mall. These examples further substantiate the awakened spirit of Eldoret as Kenya’s fastest growing town.
If you’re looking to start a business in Eldoret, there are convincible reasons that give this town an edge to be a powerhouse of investments in the region, and I will elucidate them in this piece.
1. Strategic Location
The central location of Eldoret town which serves the neighboring counties of Nandi, Baringo, Elgeiyo Marakwet, West Pokot, Kakamega, and Turkana is instrumental in expanding the market base in the region. The Mombasa- Kampala highway snakes through Eldoret town thus linking up the wider western Kenya to the East African trade route through swift transportation of goods through the town.
Moreover, Eldoret being at the epicenter of North Rift serves the region well and draws its market from a wide variety of the demographics and ethnicities.
2. Favorable weather
Water is essential for both industrial production and survival for the residence. People cannot inhabit a place riddled with water shortages. The weather in Eldoret is conducive to live and work in as the town hardly has cases of water shortages because of the adequate rains in the region. The hotter months aren’t too harsh either. Whether you are looking to start a business in Eldoret in agribusiness or an ice cream shop, the region has excellent weather throughout the year favorable for a wide range of businesses.
3. Relatively cheap and sufficient land
The establishment of the economic zones in the plateau area in Ainabkoi constituency by the national government in conjunction with billionaire businessman David Lagat and county government of Uasin Gishu in a 700-acre piece of land, will create thousands of jobs and turn Kenya into a manufacturing economy.
One of the crucial factors that led to the setup of the industrial park in Eldoret was the readily available land that is also relatively cheaper compared to other major cities like Nairobi and Kisumu. With the availability of affordable large parcels of land, you can set up a firm of any size as well as swiftly expand your operations depending on your growth plan.
4. Large Population
The population of Eldoret which is proliferating owes to its investment potential and its location. The climatic conditions are an advantage as it attracts thousands of people every year. The social amenities as well as institutions of higher learning; Moi University, University of Eldoret, Eldoret Polytechnic and many academic institutions in the region have seen the influx of many young people in town.
The enormous number of people creates the market needed for every investment. The investment success in every region will be influenced by demand and supply created by the market forces. The drivers in every investment are the consumers.
5. Conducive Political Environment
Unrests and violence scare away potential investors as no one will put up with the idea that his merchandise and property will be looted or destroyed due to political polarization among other incivilities. In fact, there are regions where firms have had to shut down permanently due to violence and intolerance by the locals.
On the other hand, Eldoret continues to enjoy political stability for over a decade now and this has been very critical in establishing meaningful investments in and around the town.
The booming economy, improved infrastructure, less expensive business costs and a stable socio-political climate are all good flowing winds blowing in favor of new entrepreneurs and expanding companies. In short, there’s never been a better time to start a business in Eldoret.