Entrepreneurship

Getting Back Control Over Your Business' Recurrent Expenditure, by ANN ICHUNGWA

GETTING BACK

 

It is only too true that expenses tend to outstrip income at the start of a business venture and only too few, if any, new businesses are profitable as soon as they are launched. It takes time for a business venture to reach its break-even point and to start making a profit. Hence, keeping a tight control on working capital is essential for entrepreneurs who are focused on a long-term horizon, as a sustainable business can only be built on efficient working capital management systems.

 

Before diving deeper into the vast domain of working capital management, it is important to define precisely what constitutes working capital.

The Subtle Ways in which You May Be Undermining the Success of Your Business, by KIRIINYA KITHINJI

Undermining Business Success

 

Like most Kenyans, I have been the unwilling recipient of harrowing service experiences in the hands of public officials. In fact, the service reputation of officers in government departments such as the various lands registries is well documented as nothing short of legendary, albeit in the wrong direction. Excellent service is the exception to the rule in many public offices.

The levels of customer service in some of the lands registries are so inadequate, that many clients believe that to get anything done, they need to "know somebody." That's just that the way life is, they reason.

In a sense, I can understand where such clients may be coming from. These long-suffering consumers of public services intuitively sense that they are up against the entrenched, mostly negative cultures that our public officers at the grassroots level are infamous for.

But I doubt that things were always that way.

Help! My Spouse's Business is Killing Us, by JORAM MWINAMO

Help! My Spouse's Business is Killing Us

 

Dear Joram,


I got married 6 years ago to an entrepreneur and it all started as a great dream, I supported my spouse and we spent a lot of time talking about the business and its future plans. However, that dream has since turned into a nightmare. As I write this to you, I've reached the end of my ability to cope with what is going on. Let me explain.

We started the business modestly where we even converted one room in our house into a home office. We began our operations in a small way and within no time the business picked up quickly and began to make money! It all looked rosy and promising so we invested even more time and money into it. I took loans on the basis of my salary so that we could expand our operations and we even got a nice big office. That's when things began to go wrong. At some point , the growth of the business went out of control and we began to lose clients. Regulators also stepped in and things quickly went south, and we were left trying to pay up penalties of taxes we were not aware off. Before long the bank had sent auctioneers, and when we began to fall behind on mortgage payments. At this point the bank began to be quite hostile. Our car payments are behind and we have maxed out our credit cards. One of the cars we are paying for hasnt moved for months due to disrepair.