Entrepreneurship

Ease of Doing Business in Kenya Index Means Nothing to Kenyan SME Development, by VICTOR OTIENO

The other day the World Bank released its latest report on ease of doing business in which Kenya had reportedly moved up 21 places from 113th last year to 92nd in the 2017 report.

The world Bank program evaluates countries on 10 key indicators: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, resolving insolvency, enforcing contracts, and trading across borders.

The assumption in the ranking is that there is a direct correlation between foreign direct investment activity in a country and the country's position on the ease of doing business index. The effort by the Kenyan government to improve the county's ranking is noble and commendable, but it doesn't help the cause of local SMEs who are major contributors to Kenya's GDP and employment.

SMEs: Using the Company End Year Retreat to Fill Your Strategy Execution Gaps, by VICTOR OTIENO

SMEs Can Use their End Year Retreat to Fill their Strategy Execution Gaps

 

As the year is drawing to a close, most organizational staff cannot wait for the company's end year retreat for them to relax, unwind and indulge in food and drink like their life depended on it.

End year retreat ideally should be fun filled but should always have a learning undertone, especially learning that improves the organization.

One thing that one thing most organizations struggle with without admitting it is strategy execution gap, a situation where the organization has developed a great strategic document that is supposed to guide it for the next five or so years but remains just that; a document.

What to Expect from Your Accountant, by ANN ICHUNGWA

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Most entrepreneurs are lost when it comes to what they expect from their accountants. In addition, not all business owners are adept at handling finances. However, it’s important as an entrepreneur to familiarize yourself with basic bookkeeping and money management principles and activities. Having consulted for several SMEs, I’ve developed an easy checklist with timelines, that you can use to gauge your understanding of the financial state of your business, as well as what to expect from your accountant.