“Although I had a growing business, I had never bid for a tender before,” says Jane Wangechi owner of an ICT Firm.
When the new rule to set aside tenders for special groups, including women, AGPO Certificate, was announced, she saw a new opportunity to spread her wings. The prospects of winning her first tender filled her with anxiety as she wondered whether her application would make the cut.
“I feared that I may be unfairly boxed out to pave way for renowned applicants. If they asked for a bribe to register my business at the National Treasury or to produce my tax certificate, I’d be done.” Nevertheless, she applied.
“I did not want to one day look back and wonder what I would have achieved if I had applied for an AGPO Certificate,” she recalls.
She won her first tender worth Sh200,000 to supply computer accessories to a government ministry.
“It was a small tender but I knew that it had opened the door for me to start doing business with the government.”
And a few months later, she bagged a Sh3 million tender to supply more computer accessories to another government ministry.
If you are a Kenyan youth, woman or person with disability and do not know about the AGPO Certificate, then you are missing out on potential opportunities for business.
What is an AGPO Certificate, you ask? AGPO stands for Access to Government Procurement Opportunities. It is an initiative set by the Government of Kenya, aimed at facilitating the youth, women, and persons with disability-owned enterprises to be able to participate in government procurement. This was a result of the Presidential Directive that 30% of government procurement opportunities be set aside specifically for these enterprises.
The target groups for these procurement opportunities are:
Documents Required to Apply for an AGPO Certificate include;
Please note that there are some industries that need letters and certificates from relevant bodies, e.g construction, tourism, medicine, energy, communication or other technical and professional bodies.
We are happy to offer you Company Registration services and slate you at an advantaged position to bid for and win government tenders. Remember, your certificate or qualification does not mean you will automatically win a tender. You have to follow guidelines, thoroughly read through tender documents and most of all be able to provide supplies or services in a timely manner. Your proposal should be crisp and on point.
Contact us today and we shall get you started.
Accounting Software Vs Hiring A Professional Accountant In Kenya – Technological advancements have given us tools to make our lives more convenient; even in business. We have witnessed emergence of business software that automate business operations such as marketing and recently, accounting. Many upcoming entrepreneurs’ question is whether they should manage their own taxes using a software tool or hire a professional accountant. Majority choose to do it all; manage their business, including the finance sector. While some business owners swear by accounting software, others would rather stick to the conventional way of hiring a professional accountant. The debate is ongoing, and we will give some insight as to what people prefer in accounting software as opposed to hired professional Accountant and vice versa.
It is no secret that accounting software are cheaper compared to hiring a professional. accountant Depending on the software you decide to use, some services will be free, while some premium services will be charged. Nevertheless, the total cost will still be lower than that spent on an hourly or monthly paid professional accountant. Accounting software tax filing packages range between Ksh. 1000 to Ksh. 12,000 a year, depending on the services you require. A professional accountant charges a minimum of Ksh. 10,000 for accounting services depending on the scope of work. Given this difference, most business owners prefer to file their own taxes using accounting software applications.
There is no lie here; computers are faster than humans. While accounting software can file your taxes in less than an hour, seasoned a professional accountant might probably take days to do the same. It is also quite convenient especially if you want to conduct simple actions, such as calculating simple deductions. Accounting software also prepares automated reports and analyses such as profits and losses and forecasting that a hired professional accountant may take time doing. For this reason, some entrepreneurs find it better accounting software.
Accounting software is primarily error free; meaning you will get more accurate results; unless you as the individual keys In wrong information, or wrong numbers. They say to err is to human as to machines is accuracy.
Like a personal doctor knows your medical history, a professional accountant will know your business’ financial history and is able to offer valuable advice that accounting software just cannot give, such as tax suggestions. A doctor cannot sit by and watch your health fail, knowing your medical history; neither would a Professional accountant let your financials wither as he/she observes your accounts history. At a point in your entrepreneurial journey, you will need tax advice, and what a double cost it will be to pay for software and still pay a tax consultant for advice that your hired professional accountant would give you for free. Furthermore, it is normal for a business owner to ask questions about his/her finances especially, to do with taxes. A hired professional accountant is available around the clock to answer your questions and advice you on best practices regarding the same. Accounting software does not provide this kind of customer service. Other than automated FAQs, the software cannot answer burning questions about your business.
Business practices and investments can go wrong at any time. A professional Accountant has the skill to sort through complex tax issues that software simply cannot do, all the while giving you guidance and follow-through on the same.
Accounting software may be fast and error-free but a hired professional accountant is thorough as they personally go through your financial files and may point put disparities that a computer would not necessarily detect. A professional accountant can even forecast a future tax error just through going through your paperwork and warn you before-hand, giving you the best way forward.
We prefer the hiring a certified accountant as opposed to accounting software for this simple reason; the human factor. Hired professionals provide personal accountability, pun intended, and add more value of professional advice and financial strategies that a software cannot provide. No machine can beat the work of an extraordinary accountant. What’s your take?
How To Start A Tours And Travel Agency In Kenya – Kenya has been ranked one of the top tourist destinations in the world. According to North American destination experts Goway Travel, Kenya has become a sought-after destination by avid globetrotters because of its favorable weather, vast wildlife scenery and warm sandy beaches. There are thousands of new and repeat tourists visiting the country, and a host of locals discovering the motherland, thanks to the #TembeaKenya movement.
Many tours and travel agencies have emerged, milking the cow, that is tourism. A lot of them have become lucrative empires, such as Bonfire Adventures and Scenery Adventures, which was started by no more than Ksh. 5,000 in initial investment by the CEO, Monica Musungu. If you have an eye for tourism and travel, then why not invest in this fast emerging cash cow?
Before you jump on to registering your tours and travel agency in Kenya, you need to take the following factors into consideration:
You cannot set up a tours and travel agency in Kenya without knowing the type of clientele you should attract. Whether tourists or locals, it is best to know what destinations are popular for travel enthusiasts (your clientele), and new or rather untapped destinations that your clientele might like. This will lead you to determining other factors such as costs and transportation.
You need to be well versed with your travel destinations and well connected with hotels and places of interest around it. This way, you will know exactly what you are selling to your client and what they should expect. Pre-visits help with knowing the distance from major cities to the destinations, travel costs, duration of travel, etc., to help you be well equipped when you are preparing your clients for travel. These visits also help you familiarize yourself with hotels, resorts, restaurants and other areas of interest, such as historical and archaeological sites so that you can build a rapport with the managers and build partnerships with them.
Have a portfolio of your connections. From hoteliers to air travel providers, you should always have your connections close to you and build a good lasting business to business relationship. Here, you can negotiate on travel and holiday packages, where you will incorporate the services you will provide, such as transport and the services they will provide, such as accommodation, tour guides, game drives, and standardize the entire cost of your travel package. Remember, when pricing, try not go too high and stick to the average market price compared to your competitors; that means try not to overprice so that you can pocket too much, especially if you are just starting out.
As a tours and travel agency you will have to have a means of transportation for your client trips. This could be with a bus, a van or a small car, depending on the size of your group. Nonetheless, it is important to take this into consideration and know whether you will hire transportation or have your own company transportation means.
For purposes of consultation, if you do not want a virtual office, you can consider having a physical office. It does not have to be big, just big enough to hold an administrator or consultant, and also for legitimacy purposes, to settle legal matters if need be.
If you plan on selling air tickets through your tours and travel agency, then you will be required to undertake an IATA diploma. it will offer you credibility when you are dealing with travel partners and suppliers in the industry, such as airlines. It is also advisable to get membership with relevant travel and tours associations to inspire confidence and integrity in your tours and travel agency business. A relevant IATA diploma will also equip you with the skills to advise clients, make reservations and travel arrangements, calculate airfares as well as complete standard international travel documents in compliance with IATA procedures and rules. It would be advisable to work on getting the relevant qualification to operate in the tours and travel industry for credibility over competitors.
Capture all these factors ion a well written business plan to help you out with budgeting and direction. If you’re not sure on how to go about it, we will gladly do it for you through our Business Planning Service.
Once you have your business plan in check, you can proceed to register your business through the following process, which we do for you from start to end.
After securing these documents, you then proceed to the Tourism Regulation Authority to be issued with a Tourism License. This process takes up to 10 days and you are good to go!
One secret to success in the tours and travel business, market, market, market! Your marketing strategy will determine whether you succeed in your business or not. Make use of social media to reach masses of travel enthusiasts. We know running the business will be hectic and to make things easy, we will be happy to increase your business awareness through our branding and marketing services.
What are you waiting for. Contact us today for more details on How To Start A Tours And Travel Agency In Kenya and get your tourism show on the road!
Doing Business and Company Registration in Kenya – Did you Know that Kenya is the country with the second highest ranking in World Bank’s Ease of Doing Business index in Eastern Africa?
Kenya is the Largest Economy in the East African Community, the 65th Largest economy in the world and the Financial, technical and Communications hub in East Africa.
The Kenyan GDP has on average grown at a rate of 6% since 2004 with a Per Capita GDP estimated at $1,991. After Company Registration in Kenya you get access to the East Africa Community giving you access to a market of about 150 million people and a market size with a GDP of Billion USD 145.
The Tax Regime in Kenya is Quite Straight forward with the Tax rate for personal Income ranging from 0 to 30 %, Corporation Tax is at 30% and Vat at 16%.
For over 1 decade now, East Africa Business Consultants Has assisted many clients with the following Key Company Set Up Services in Kenya;
|Entity||Subsidiary Company||Branch Company|
|How Long does the Company registration process Take?||10 Days||10 Days|
|How long Does it take to Open Bank Account?||5 Days||5 Days|
|After how Long can you Invoice and Hire||15 Days||15 Days|
|Minimum Number of Directors and Shareholders||1||–|
|Foreigner Can own the Company 100%||Yes||Yes|
|Can the entity hire expatriate staff||Yes||Yes|
|Tax Identification Registration required||Yes||Yes|
|Access to Kenya’s double Tax treaties||Yes||Yes|
|Can bid for Government Contracts?||Yes||Yes|
|Can Secure Trade Finance?||Yes||Yes|
|Can Secure an Import and Export Licence?||Yes||Yes|
|Can Easily Convert into a PLC?||Yes||No|
|Can Secure Work permits for foreign Employees and Directors?||Yes||Yes|
|Multi Currency Bank Accounts Available?||Yes||Yes|
How To Start A Day Care Business In Kenya – If you have a passion for children and would not mind taking care of them for a living, then the daycare business is just for you. With the rising number of working mothers, children need caregivers to take care of them while their parents are away. In addition, there have been alarming cases of nannies mistreating or kidnapping children; therefore, most parents opt for daycare centers as they are a safer option to trust children with, especially if the center is within the neighborhood.
You can choose to have your daycare center and double it up with a kindergarten. Whichever the case, it is a good venture to pursue if you have the drive for it.
You will need to follow the following steps to Successfully start a day care business in Kenya.
Now Let’s take each of these in turn.
Just like any other business, the day care business requires legality. The first thing you need to do is find a suitable name for your daycare center and reserve it for later registration. Then you will need to acquire a business license to make your daycare business and operations legal. You will also need to register with Kenya Revenue Authority to get your business a KRA pin number. Other legal requirements for a daycare business in Kenya include health and safety clearance, as well as liability insurance to protect facilities, staff and the children. These are the most important legal requirements you may want to work on first.
Now that you have a unique business name and you have registered your day care business name, it is time to draw up your business plan. Why? A business plan is important for planning purposes. This is where you will devise your budget, that is, know how much you will want to spend on rent for the facility along with other utilities, how many staff members you will need, how many children you will be able to host and other factors like the provisions you will be able to provide for the children. Your budget will help you manage your finances, spend well while setting up the daycare center, allow you to save some money, and most importantly help you know or have a rough idea of how much you will charge per child for your services. Remember, having a business without a business plan is like going on a journey to an unknown destination without a map. We can help you out with your business plan here. (https://www.eastafricabusinessconsultants.com/2019/01/17/professional-business-plan-in-kenya/)
Now that you have a budget and an estimate of what you would like to pay as rent for your facility you can scout around for a suitable location for your daycare business. It can either be in high tier or lower tier estates depending on your budget. A daycare center within the city would be a bit difficult to maneuver but you can weigh your options and see what works best. While choosing your location, consider the following things:
These factors are important because they determine whether the children will be in a potentially dangerous area, and if they are near medical and security facilities should the need be. A commercial center near the daycare center would be good should there be an emergency where daily utilities such as food or diapers run out.
This is one of the most important aspects of a daycare business. Depending on the size of your daycare center, you will need competent, experienced and trained staff to care for the children. This is where you need to take most of your time interviewing candidates, performing background checks on them and confirming their competency when it comes to children. Most times rogue care givers are the ones who abuse children and the facility ends up closing down. For the sake of your credibility as a business and to honor your values as a caregiver and founder of the center, you need to make sure you hire professional caregivers, who fit your standards, who are able to care for, as well as educate the young children. This process should be slow but sure, rather than rushed and careless because you want your business to open up quickly.
Just like any other start-up, you will need to market your daycare business. The best way to start marketing is by informing working parents that you know in close proximity about your daycare center. Friends and family are always the best first customers as they could refer your daycare business to their circle of friends. Handing out fliers around your location is also a cheap and great way of getting word out about your daycare center. You can take your marketing a notch higher by using social media to market your daycare business. Leverage on Facebook, Instagram and Twitter as a lot of parents are on these platforms. Create a page for your business and promote your first few posts to get more reach and likes on your page and then carry on from there, by engaging with parents who want to know more about your business. Share pictures of your facility, a sample of meals you offer, the play area, educational material you have and other features that will attract parents, especially mothers, to your business. You can go a step further and a create a simple website simply showing the daycare center’s features, services offered, price lists, menu for food offered, daycare timetable and contact numbers for customer care. This is will add a touch of professionalism and credibility to your daycare business and even get a chance of appearing in daycare service Google searches in Kenya. We can help you out with your Marketing here. (https://www.eastafricabusinessconsultants.com/branding-and-marketing-consultancy-services-in-kenya/)
Work extra hard to ensure your daycare business meets the standards of those who entrust you with their children and business will be booming in no time. Are you ready to start a daycare business in Kenya? Contact us Today and we will help you register and start a day care business in Kenya.