May 2018 – Business Consultants KenyaBusiness Consultants Kenya
29
May

World Cup Marketing Ideas for Businesses in Kenya 2018

World Cup Marketing Ideas for Businesses in Kenya 2018 – The FIFA World Cup is arguably the world’s largest sporting event, featuring 32 football teams; it captivates an estimated 3.2  billion people across the globe during its month- long run. 3.2 Billion People is almost Half of the World’s Population meaning that 1 out of every 2 people follow the worlds cup keenly.  While there are stern measures in marketing unless you are an official sponsor you are not to use the official marks, logos or photos of the world cup,  here are some ways that can help you maximize on your marketing during this period.

Social Media Marketing

Social Media is the most effective and widely used mode of marketing in today’s generation. Each game is likely to have its own unofficial hashtag. Stay on top of this and keep using the hashtags to market your products. To be helpful to your audience you can send those links or alert them when important matches are on. You can use creative approaches to multimedia that can drum up excitement among your audience.

TV- Led Campaigns

For Companies that have a large marketing budget this is the best way to be seen and heard by audiences all over the country. Nation Media group have acquired the license to broadcast the world cup locally. As a local company you can get air space just before the official sponsor’s adverts pre-match, during half time and post-match talks.

Guerrilla Marketing

This is also known as ‘ambush marketing’ a case in example is Bavaria a small Dutch beer brand wanted to attract attention and cut through all other promotional material surrounding the event in the 2010 world cup. They had an orange dress marketed as a fashion item where a flash mob of attractive Dutch-dress clad women were sent into stadiums during practice matches, generating positive media attention. This tactic was repeated again in South Africa during the tournament and this was able to increase the companies brand awareness and sales.

As a company you can dress up one of your sales person in a participating company team color and they walk around the busiest parts of the city. You can also team up with malls where you can have an inflated ball at the entrance and have a sales person handing out flyers.

Special Discounts and gifts

One can encourage potential guests by having discounts. For example you can have your audience predict a certain match and give them free gifts or discounts if their predictions are correct. For restaurants for example they can have a 20% off  their reservations. They can also have special packages for those who want to view the matches in their establishments.

In conclusion it is important for the company to go with the trend of the season. Most people will be talking about the matches, the plays, that fantastic goal. So don’t be left behind, maximize the season.

Do you have more ideas on how to ride on the World Cup wave to Market Companies?  Comment on the Space below

29
May

How to Verify and Renew Work Permits in Kenya

How to Verify and Renew Work Permits in Kenya – For the next 60 days the Ministry of Interior through the Department of Immigration Services has directed all foreigners working in the country to verify and renew their Work Permits at the Immigration.  This directive seeks to crack down on foreigners working in the country illegally.

In 2017 alone there were 8,366 new permits issued, it is estimated that there are about 34,000 work permits registered so far. This verification exercise will not only be used to rid the country of illegal and undocumented workers but is in line with the ministry readiness to issue foreigners with foolproof electronic cards as work permits so as to reduce the paperwork and to improve efficiency. The electronic cards system will also provide the immigration department with the necessary statistics on the number and categories of permits issued to foreigners working locally.

All foreigners are therefore required to submit their original Work permit, Valid official endorsement on passport, Valid alien card, official payment receipt and Kenya Revenue Authority PIN number. The ministry has assured all the foreigners that the process will be seamless and they have nothing to worry about. There is anticipation for the introduction of a quota system in the issuance of work permits and possibly an introduction of annual immigration audits to identity any undocumented or improperly documented foreigners working in Kenya. It is also expected there will be a restriction on business visas which are normally valid for 90 days to a shorter period.

For more about work permits and the requirements check out how to apply for a Work Permit In Kenya

29
May

How to Do a Back Ground Check for a Registered Company In Kenya

How to Do a Back Ground Check for a Registered Company In Kenya – Are you looking to Partner, Buy Shares, Offer Credit, Pre-qualify as a Supplier or do any kind of Business with a Company Registered in Kenya and you are not sure how to check whether the Company is legally Registered or find out the Directors behind the Company?

This Blog is for you and it will help you avoid getting yourself into a situation similar to KPLC where the intuition would have lost Millions after employees registered 350 Proxy Companies and used their influence to ensure that they were enlisted in KPLCs list of Suppliers.

We have other instances where some fraudulent people purporting to be the Company Directors approach you to buy a piece of property from their company only for you to realize way later that you had been duped.

The Roll out of the BRS System by the Company’s registrar is a Big stride in the right direction because carrying out a Back Ground check of a company is straight forward and as easy as ABC.

Here is how to go about it.

1. Search for E Citizen on Google and Log In using your credentials and then Click on to the Business Registration Service Link
2. Click on Make Application. You will then be directed to a Page with 11 listed Services. Click on Service Number 10 written Official Search (Third Party Applications) and a pop will notify you that the service will cost you KSH 650. Click on Apply Now and you will land on a page named Find a business.
3. Use the Company Name or Company registration Number to Search in the Space Provided. Then the Company you have searched for will appear. Click on the Particular Company Name and then click on Next.
4. Key in your Postal Address and Postal Code and Click on Press and Continue
5. Confirm that you have provided all the information as required by the Registrar of Companies by Clicking on the check box and then click on finish.
6. On the Payment page, Choose the payment mode that suites you and then Pay the KSH 650. Once you have successfully made the payment, Click on Confirm Payment. Once this is successful you will land on a page called application details and here you can download the Form Cr12 and here you will receive all the Company details you need.
Hope you manage to successfully do a Search by following the steps above, Feel free to Contact Us if you need guidance on the same or if you need a more in depth Company Background Check with more information on other areas that are outside the Company Registrar’s Domain.

17
May

Best Market Entry Strategies for Foreign Companies in Kenya

Best Market Entry Strategies for Foreign Companies in Kenya – Kenya is one of the key logistical conduits into the East African Community Regional Market consisting of south Sudan, Tanzania, Uganda, Rwanda and Burundi. Many foreign companies establish their regional headquarters in Kenya. Here are some of the entry strategies that foreign companies can consider.

  • Exporting

The simplest and easiest way to meet the needs of the Kenyan and East African markets is by Exporting. This approach has minimal effect on the ordinary operations for your Company and the risks involved are less than other alternatives. There are two broad avenues of Exporting; Indirect and Direct Exporting. The two forms of Exporting are distinguished on the basis of how the exporting company manages the transactions flow between itself and the Kenyan Importer or Buyer. When it comes to Indirect Export the manufacture leverages on the services of various types of independent Marketing Organizations located in Kenya and are in the Business of Importing and Distribution of the Products. Direct Importing will involve your Company doing the Importation and Distribution of the products.

  • Joint Venture

In this strategy, your company Joins Hands, Shares ownership and management with another company. This method works best for two Companies with complementary Assets, Distribution Channels, and Technology . This company Mutually benefits the two companies and enables them to achieve common objectives that include; risk/reward Sharing, technology sharing, Joint product development, Political Connections, and Conforming to Government Regulations

  • Franchising

This is a system in which Local business owners (franchisees) pay fees and royalty to your foreign company (franchiser) in return for the right to be identified by your trademark, to sell your product or services and often use your  business format or systems. There are two types of franchising relationships the business format relationship where you provide to the Local Business not just a trade name, product/service, but an entire system for operating the business. The other type is traditional or product distribution relationship the focus for this is not the system of doing business but mainly on the product you manufacture or supply the local Business.

  • Mergers and Acquisitions

A merger is a combination of your entity with a Local Entity Leading into the creation of a new one, the desired effect being the accumulation of assets and liabilities of distinct entities and several other benefits such as economies of scale, tax benefits, fast growth, synergy and diversification. The merging entities cease to be in existence and marge into a single servicing entity. Acquisition comes in when you acquire controlling interest in another company. It does not lead to dissolution of the company whose shares have been acquired but it leads to a change of the company ownership structure.

  • Strategic Alliance

This is a voluntary formal agreement between your Company and a Local Entity to pool your resources to achieve a common set of objective while remaining independent entities. It is mainly used to expand the production capacity and increase market share for a product. Alliances help in developing new technologies and utilizing brand image and market knowledge of both the companies.

 

Ultimately the choice of a market entry strategy in Kenya is very important in the entrant’s future decisions and performance in the local markets due to complex, continual change and dynamic business environment. It is Vital for foreign companies to adopt entry strategies that will preposition them to take the chances in the Kenyan economy in a manner that is bearable.

Contact us Today for an in depth insight on the Best approach for your company. We are also happy to help you identify and contract local Partners in order to help you smoothly penetrate the local Market.

15
May

What to Consider when Starting a Business in Kenya

What to Consider when Starting a Business in Kenya – Entrepreneurs are widely recognized as the prime movers of economic development, this are the people who translate ideas into action. Having ideas which are actionable is just a tip of the iceberg, execution is key to make this ideas great concepts and successful businesses. So what are some of the factors that you need to consider before Starting a Business in Kenya? This article looks and the critical factors that may make your start-up a success.

  • Industry Knowledge

It is quite hard for one to succeed in a business they have little knowledge about. Get to know the in and outs of the industry you are getting into. The best method is to have a business plan in place where it outlines a SWOT analysis (Strength, Weakness, Opportunism and Treats). Get to know if there any entry barriers in the industry and how to overcome them. Get to learn who the industry players are and who are considered the big wigs in that industry. Get to learn about your competitors, what are their strategies, their strengths and what are their weakness and what can you use to your advantage? This will help you develop a much more effective strategy for your business. Then get to understand your market in other words who will purchase your products/service. Other questions to ask yourself is the market big enough to sustain your business?

  • Capital Requirements

Capital is essential for any business however big or small. You need to calculate beforehand all the necessary capital that you will require to fully set up the business. Create a budget an operational, service/product and equipment budget. This kind of budget outlines all the company need to start and also a few months into the business before it picks up. After getting to know how much its need to be identify  the capital source. Funding can be either from your savings, loans from friends or a bank loan.

  • Location

Where your business is located matters to your customers. It is vital to choose a location that is accessible to people, a location that has a high population and a location that will give your business an advantage.

  • Legal Documentations

Know all the legal requirements for the business and have them ready before starting the work this will ease your way of doing business and you will have your mind at rest. Also get to know any other rule or regulation that may not be outlined but are required. Get yourself acquitted with all county regulations and national regulation each county government has its own set of rules.

  • Positive Attitude

A positive attitude will help you in passing all the challenges and difficulties that comes up with any new business. There will be a lot of risks and hurdles you will face in this process and the only thing that will save you is your attitude and a good attitude at that.

  • Know when you need Help

The development of a business is not a matter of a day or a week it will involve a lot of time that is spent with hard work. You will be needing the help of some experts. Make sure you are ready to have an adviser or business mentor who can provide with the best advice at the hour of need.

This are just some of the many essentials you would consider when starting your business. It is also critical to remember that some business pick up fast while others take a bit longer. It is vital that you be patient through this process.

We are always Happy to help our Clients Start Successful Businesses, Click Here to Request for a Free Consultation Session.