How to create multiple streams of income.

We all need multiple streams of income. Jobs are scarce and the few which are available don’t pay so well and are no longer as secure. We are creative beings and should not be constrained by one source of income.


The following steps can be taken by anyone wishing to build multiple streams of income.

  1. In case you have a job you can save ushs 100,000 and invest it in a unit trust account and immediately start earning some interest income. You can also buy treasury Bill’s from bank of Uganda and earn some interest. The interest you earn will be so little but the point is you will have another stream of income however small.
  2. In case you have no job start with what you have. Do you have any skills and talents? What is your social capital? Are there any opportunities around you? Can you render some kind of service even if it is unpaid? When you ask these questions you will often find that you have a lot to offer. Begin at once to build on this and the money will trickle in. The worst thing you can do when you have no job is to fold your hands and watch TV.
  3. Build a side hustle besides your day job to increase your resilience in case of job loss.
  4. Invest in acquiring a new skill or vocation. There are many opportunities for hands on skilled people. There are very few jobless mechanics.
  5. Invest in shares on the stock exchange. You can buy some shares in a listed company for as little as ushs 100,000 shs. This way you earn some dividends and capital gains.
  6. Join a credible SACCO and invest some money. You will earn some interest.
  7. Invest in land. You can buy a residential plot in Zirobwe for as little as ushs 3.5m. An acre of farmland in Luwero will go for about ushs 5m.
  8. You can buy a fixed deposit for as little as ushs 100,000 and earn interest.
  9. You can engage in agri business of all sorts from coffee to bananas to piggerry, etc.
  10. You can engage in retail trade of all sorts. You can sell shoes, clothes, food stuffs, etc.
  11. You can join the service industry from photography to make up to teaching, etc.
  12. You can build rentals and earn rent. You can also lease your empty lots for a fee.
  13. You can manufacture and sell something from your home. You can make candles, smoothies, cakes, fruit salads, etc.
  14. Join a reputable investment club and participate in their investments.
  15. You can become an agent and sell services and goods on behalf of a large company for instance mobile banking, agent banking, insurance broker, etc.
  16. You can join the import business and buy and sell goods from abroad.
  17. You can become a middle man and help connect customers to sellers like real estate brokerage, etc.
  18. Try online marketing of different goods and services.
  19. Turn your passions into businesses. If you like children start a daycare.
  20. Use your existing skills and experiences to create a new service line. If you’re an accountant help your friends to set up accounting systems for their businesses over the weekends.

The reality is there are just so many opportunities to explore if we’re willing to see them and give it a try!

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