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Starting a business in Kenya

15 Jul

Kenya is a economic giant in East Africa, which gives rise to multiple reasons why anyone should do business in the economic wonderland. Be it locals starting a business or foreigners seeking to invest Kenya meets the needs of all who would like be part of the Kenyan effort. The Kenyan government has made sure that Kenya remains an investment destination of choice and a centre of lasting economic growth. Various strategic manoeuvres have been implemented to achieve such goals which include Tax Treaties, regulatory reforms to lower costs of doing business by reducing the number of licensing requirements  and a more transparent regulatory process, focus on development of social and physical infrastructure, liberalising the economy to allow for free trade amongst other things.  Before one incorporates or registers a new firm one has to scale some legal and bureaucratic hurdles. It is important that a person complies with the provisions of the Kenyan Companies act. Kenyans also prefer to do business with companies rather than individuals. Setting a company in Kenya can be facilitated by private companies or one can do it by him or herself. For international investors it is best to consult the Kenya investment authority who are instrumental in offering advice and direction to companies looking to invest in Kenya and the region. They assist with obtaining necessary licenses and permits, they assist in obtaining incentives or exemptions for tax, provide information on business climate, operating rules and sources of capital. They also take pride in their after care services which are in place to ensure an ongoing working relationship with the investor. In summary for one to start a business one has to register the company in terms of the company act, for an international company it is very important to open a branch office in Kenya and register with Investment Kenya.

Kenya has a wide range of economic sectors for one to take part in. Ranging from environmental and natural resources, building and construction, manufacturing, tourism, agriculture and energy.

 

 
 

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