Private companies are popular vehicles for carrying on business in Kenya. Private company registration is carried out through an online platform known as e-Citizen (accessible here). It takes up-to five days from the date of submission of all requisite information to obtain a certificate of incorporation.
In the course of running a business, you inevitably require to enter into contracts with various stakeholders. Contracts are agreements in which one party commits to providing products, property or services to another in exchange for payment. Contracts may be either verbal or written.
The global digital economy has made it very easy to start and run businesses. All you need is a computer, internet connection and a great idea. Most start-up entrepreneurs opt to set-up online businesses due to the easy set-up procedures and low operating and maintenance costs. However, as the business expands it may become necessary to set-up a physical office for effective coordination of operations. If your business needs a physical location, you may have to consider purchasing or renting some space. For rented premises, landlords often require tenants to execute commercial leases.
As an entrepreneur opportunities are your lifeline. But let’s face it, scoring great opportunities is not a walk in the park. You have to jump through hoops, empty promises and near misses before you secure a contract. In the process, there is a real temptation to give too much information away too soon.