How to Start and Run a Successful Business in Kenya

Business registration in Kenya is the first step toward running a successful business. It not only makes you compliant with the law, but it also helps you gain client confidence as a trustworthy business.

Coca-Cola will invest Ksh. 9B to expand its operations in Kenya

The Coca-Cola system in Kenya has announced an investment of nearly $90 million (approximately Ksh. 9B) in Kenya as it seeks to diversify

The Ugly Truth About Buying A Business In Kenya

Ranked as the 69th biggest economy in the world, Kenya is a wonderful place for business. Have you been looking forward to stopping working for other people? Perhaps, you’re an investor looking forward to doing business in East Africa. Well, doing business in Kenya is a wonderful idea. Owning a business is a full-time commitment. If you’re used to working from 9 to 5, you’ll have to put in extra hours to see your business grow. Here’s the ugly truth about buying a business in Kenya.

Inflation for the month of October eased to 5.72%

NAIROBI, KENYA: The cost of living for the month of October eased to 5.72 percent compared to 7.06 percent in September. According to the Kenya National Bureau of Statistics (KNBS), favourable weather conditions led to a reduction in cost of several food items.

“During the same review period; Housing, Water, Electricity

Small housing developers face disruption by government plan

One-man real estate firms dominating the residential housing scene face imminent disruption after the government invited real estate conglomerates to put up 8,000 units using modern technologies.

Unlike the present situation where private developers seek and purchase their own parcels of land, the invited mass-housing builders have been given a major leeway where the government will provide the land for the planned houses.

Business Registration In Kenya

 

Budding entrepreneurs with strong business ideas are looking for professional business consultants online who can help them in establishing their setup with business registration in Kenya. If your services deal in the same and you know the requirements to register a company in Kenya, you are invited to appear in KenyaCompanies.com business listing. Whether you want to attract more clients to your business name registration service, earn more profit, or improve your company’s visibility, business directory listing can help you a lot.

 

Objectionable Business Names:

The proposed Business Name should NOT:

  • Appear deceptively similar to an existing one.
  • Be misleading or confusing as regards the intended nature of business to be carried on. An erroneous registration may, on application by aggrieved parties, be de-registered or proprietor may be required to change the name.
  • Suggest connection or association with any arm of government or county authority.
  • Include Cooperative, Building Society, Bank, Banking or Trust as those have specific law that governs them.
  • Include the name of a registered Trademark without consent of owner.
  • Include words like ‘International, National, or Commonwealth unless granted exceptional waver or in special circumstances.
  • Without valid reasons include a ‘proper name’ if it is not a surname of the owner or directors.

Note: Bear in mind that hundreds of thousands of business names have over the years been registered. So make your choices as unique as possible and you will get an approval at the first instance.

 

The Process:

Once you have chosen the name of your business, you should decide between the two types of registrable businesses; these are, Sole Proprietorship or Partnership.

  • Then Search for the availability of the name that you choose. Normal period 3 days: Once you have an available name, it will be reserved for 30 days at a fee of Kes. 100 and that can be renewed for a similar period.
  • Application for Business name registration: Once a name is searched and reserved one can now fill Form BN2 and present it to the Registrar-General for the registration of the Business name under the Registration of Business Names Act, Chapter 499, Revised Edition 2012. The Fee for this service is Kes. 800.
  • The Business Name certificate of registration, also referred to as BN3 will be processed thereafter.

 

The Requirements:

  • Proposed Business name for name search reservation.
  • The nature of Business, naming at least one activity the business will undertake.
  • Names of the Proprietor/s in Full.
  • Postal address for the Business.
  • Proposed Physical address for the Business.  That should include Name of Street, Road, Plot number, Town and County.
  • Copy of Identity Card (ID or Passport of the Proprietor or Partners).
  • Passport photo (colored) of the Proprietor/s.
  • Copy of PIN certificate of the Proprietor/s or partner/s.
  • Full particulars of the owner or partners- to include profession or occupation, relation with one another, academic and professional qualifications.
  • Sole Proprietor or Partners to sign Form BN2 and submit to Registrar-General. For Sole Proprietorship only the sole Partner has to sign. A Partnership can have as many as 20 Partners.
  • Include date of the commencement of business.
  • Allow a week or two for registration.

 

Our team wishes you a smooth Registration Process. In case of any difficulty, kindly direct your enquiries to info@eliteaccounting.co.ke. 

KCB gets Sh10.4bn AfDB loan for lending to SMEs

KCB Group, the country’s largest bank by assets, has secured a $100 million (about Sh10.37 billion) loan from the African Development Bank (AfDB) for onward lending to small and medium sized enterprises (SMEs) in the region.

The AfDB board approved the long term funding on Wednesday.

New rules for renewal of trademarks in Kenya released

On 30th June 2017 the Registrar of TradeMarks published Practice Directions on the renewal of trademarks in the Industrial Property Journal -No 2017/06 which effectively does away with the additional 30

Equity posts 3pc drop in net profit

Equity Bank is looking to transactions income and regional subsidiaries to grow its earnings as the cap on cost of loans and a charged political environment cut its interest income and shaved its profit for the nine months to September.

The largest bank by customer base Monday reported a three per cent drop to Sh14.6 billion in third quarter after tax profit as its interest income fell 11 per cent to Sh35.4 billion.