Startup Kenya

My friend Roger clearly remembers those particular words from the telephone call. After many days anxiously spent waiting for it the bank had called him that sweltering December afternoon. The call effectively put a nail in the coffin for Rogers’ fledgling insurance agency. Twelve months earlier, Roger had started his business with unbridled and unstoppable optimism. He quit his well-paying but stressful job as a marketer in a large company, much to the distress of his pregnant wife.  But Roger quit because he had a dream. He dreamed of giving his unborn son everything he ever wanted. He dreamed of an end to the despondent dependancy on his pay cheque. He dreamed of hours of relaxed recreational family time. Driven by a lucid, Technicolor vision of his dream Roger took a one million shillings loan from the bank to start his agency, only to have the bank take it from him one short year later. The auctioneer came the next day, a greasy-faced, pot-bellied, squinty eyed man wearing a

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.

Starting today I will be writing for a fresh new business daily blog called My Shillings ( blog.my-shillings.com ). The daily will have an article running every day with a unique perspective on real Kenyan stories about new businesses, products on the market, investments for you, and startup successes. As a business blogger since 2006 I assure you that my reporting will be focused, and unbiased and intended to make earning, spending and saving shillings in Kenya easier and more informed.They’re your shillings so read, enjoy and be wealthy.