Over the weekend I discovered quite by chance a wonderful blog by Quadimoso called Coding south of the sahara. Quadimoso is a Kenyan entrepreneur (refers to himself as an Afropreneur which must be a portmanteau of "African" and "Entrepreneur") who has transitioned from techie to contractor to entrepreneur. He has a wonderful series called Journey of an Afropreneur where he chronicles his dreams, challenges , failures and successes. It's great reading for anyone with an IT background interested in becoming an entrepreneur.
Differences between a Business Name (Sole-Proprietorship / Partnership) and a Limited Liability Company
While consulting for our online company registration service, Incorporator I find myself answering the question "What is the difference between a sole-proprietorship and a company?" Anybody who is considering starting a business must consider what type of business structure is needed for his or her particular situation. In Kenya there are three types of structures that one can use to start their business. 1. An LLC, or Limited Liability Company 2. A sole proprietorship 3. A Partnership A Sole-proprietorship and a Partnership are registered through the same manner (Form BN/2) with the exception that a partnership has more than one owner and although not necessary, entrepreneurs are advised to register a partnership deed as well. In this article all references to sole-proprietorship also include partnership. Understanding the advantages and disadvantages of each structure is important when deciding which one you want to use for your company.
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