Zimbabwe is the land of the long night. Since the year 2000, it has suffered from strict capital controls, hyperinflation, and a collapsing currency. If you’re looking for an alternative investment that pays well, consider making money online in Zimbabwe. Here are 8 ways to make quick cash.
1. Start Your Own Business
Although some businesses such as Uber and AirBnB have made it easier for people to make money online without having a formal business, the best way to make money in Zimbabwe is to start your own business. Unfortunately, the country’s economy makes it difficult for you to do this. The demand for goods and services is high, especially in the cities, but the available business opportunities are limited.
If you’re looking for an opportunity to earn extra cash, consider starting your own business or becoming an entrepreneur. As an entrepreneur, you’ll have the chance to become self-employed and determine your own working hours. In Zimbabwe’s current economy, that’s a powerful tool. According to a recent report from the World Bank, about 92% of the population is economically active, compared to 75% in 2014. However, only 2% are considered business owners. In 2020, there were only 500 new businesses registered per year, the lowest rate since 2010. Finally, only 12% of the businesses surveyed in 2020 were considered successful.
2. Sign Up For An Online Brokerage Account
If you’re looking to make money online in Zimbabwe, you should consider investing in a good online brokerage account. An online broker will allow you to trade stocks, receive margin calls, and perform simple orders. Before you decide which broker to go with, be sure to read reviews and sign up for a trial account to see how the web-based trading platform works. One of the best online brokerages to consider is Robinhood.
With Robinhood, you can buy and sell stocks using cash, a credit card, or a debit card. Plus, you can take advantage of low balance requirements and zero fees when trading. In 2019, the American company reported $2.6 billion in revenue and $400 million in net income, mostly from small businesses.
One of Robinhood’s biggest advantages is that it offers a simplified user experience. Instead of having to set up an account with a CFD brokerage, get a demo account and try out the platform. If you want to keep things simple, sign up for a Robinhood account.
3. Start An Online Store
If you’re looking for an easy way to make money online in Zimbabwe, consider creating a shop on a digital marketplace. Shopify has a lot of functionality and is very user-friendly. Launching a store on Shopify is very affordable and doesn’t require a lot of technical skills. Once you have your store up and running, start promoting it.
Shopify has a wide range of products that you can use to grow your online store. These include affiliate marketing software, dropshipping supplies, and more.
You can use Shopify’s built-in tools to track sales, grow your audience, and find new customers. The best part is that you don’t need to have a large audience to make money from your store. According to Shopify, 55% of their customers make less than $100 per month, while 19% make over $500 per month. The average Shopify store earns $300 per month in sales, with the majority of those sales coming from small businesses (55%).
4. Start A Blog
Blogs have become an incredibly useful tool for making money online. In 2020, about 40% of digital marketers plan on using content marketing in their campaigns. When creating content for your blog, pick a niche that you’re passionate about and include helpful information.
If you’re looking to create a niche blog around personal finance, you should consider using Reeder as your content management system. The company provides a blogging platform that allows you to integrate various payment methods and offers monetization via affiliate marketing or directly through the blog.
You can integrate Google Ads, display ads across multiple platforms, or use affiliate products to monetize your content.
5. Start An Online Teaching Company
If you’re looking to make a quick buck online in Zimbabwe, consider creating an online teaching company. For a small investment of about $500, you can set up a classroom with a virtual teaching assistant who can help online students learn various things. After you’ve taught a few classes, you can look for ways to expand your company.
Unlike many other online ventures, you don’t need to invest a large sum of money in digital teaching to actually make a profit. In the United States, up to 90% of the population ages between 10 and 30 believe that courses via distance education are a valuable learning tool. In the next decade, online learning and teaching are expected to grow by 24% in developed countries and 12% in emerging markets.
You can use platforms like Vivino and Chegg to set up your classroom. With these platforms, you don’t need to invest in additional hardware or software – everything can be done online. You can integrate Google Ads, affiliate marketing, or use SAVED to collect payments from students.
6. Start A Cafe Or Coffee Shop
If you’re looking to make some extra cash flow in Zimbabwe, consider creating a coffee shop or cafe. In some cities, especially in the capital city of Harare, you’ll find lots of coffee shops and restaurants where you can get a quick coffee or lunch. These businesses often need help with food services or need someone to serve coffee to.
You can use something like CafeNow to set up your own coffee shop or cafe. With this platform, you won’t need to invest in expensive equipment or hire highly-skilled baristas – all you need is a computer and a phone line.
Coffee shops and cafes are a great choice for those who want to make some fast cash and don’t want to get too involved in the day-to-day operations of a business. If you can become a barista or food truck operator, you can make a lot of money without having a lot of experience. According to Open Data Market, the coffee market is a $16 billion industry in the United States and will be worth $22.2 billion by next year.
7. Start A Food Delivery Service
If you’re looking to make money online in Zimbabwe, you can start a food delivery service. This is especially a viable option for those who want to operate a cafe or coffee shop, but don’t want to commit to the full operation of a restaurant. Instead of cooking your food yourself and taking out deliveries, all you need are drivers who can make food deliveries as soon as orders are placed.
You can use platforms like Uber Eats and GrubHub to connect local customers with hungry food delivery workers looking for extra work. Invest in a food truck or drive one yourself and register with Doordash for fast, on-demand delivery service.
8. Start An Event Organizer
If you’re looking to make money online in Zimbabwe, you can become an event organizer. Event organizers charge businesses and individuals for hosting events, planning seminars, and workshops. You don’t need to have deep connections or lots of experience – anyone can do this with a little bit of dedication.
The best part of being an event organizer is that you get to decide what kind of events you’ll promote and how you’ll market them. If you can become the go-to person for your niche, you’ll make a lot of money doing this. In the US, there are more than 300,000 people who work as professional organizers and earn an average of $50,000 per year.
As a digital marketer who is looking for ways to make extra cash, you can use your skills to help promote event organizers in your area. When marketing an event, you can use digital marketing tools to target the right audience or use paid advertising to attract more people to your side of the industry.
Whether you’re looking to start a business or want to make extra cash, consider investing in the digital economy in Zimbabwe. With the right know-how and a little bit of luck, you can succeed in this economy and enjoy the benefits of online business ownership.