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Professional Negligence Redefined, by DR. MELVIN D'LIMA

Posted in Entrepreneurship

She was forlorn. A thirty something year old dentist with a KES two million loan to be repaid and not enough patients to attend to at her rented clinic! She had tried all the text book marketing gimmicks - free community check- ups, Facebook marketing and hiring agents to source for insurance companies to put her on their lists of service providers. It was not working. It is the economy, everybody told her. She kept asking herself, "Why now? Why me?"

Down the road was another dentist with a "well" equipped clinic with a dental unit installed in 1974!! He wanted out. "Was there a young dentist willing to take over his premises?", he asked. At close to 70 years one tires of doing the same things, day in day out.

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

Posted in Entrepreneurship

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

Posted in Entrepreneurship

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

Posted in Entrepreneurship

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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.

Preparing for Elections [Entrepreneur's Guide], by CHRIS ODONGO

Posted in Entrepreneurship

 

Preparing for Elections - Entrepreneurs Guide

 

It's exactly twenty days to election day in Kenya and as an entrepreneur and business owner, you have to plan for that day..... No scratch that you have to plan for the day before and the day after..... scratch that... you have to plan for two days before and three days after the election.

In my view, the eve of the election is possibly going to be very calm as campaigns will have ended over the weekend. Most companies will keep their doors closed on that day and you can expect your employees who vote up-country to have taken that day as a leave day and travelled the previous weekend to be ready to cast their vote on 8th August.

That said election day will come and go as people queue and exercise their democratic rights. The day after the election is bound to be too tense for anyone to venture outside and most of your employees will remain glued to the TV set watching results trickle in. 9th of August most MP's position will have been announced and perhaps the presidential results will be called in the evening with two possibilities; celebration or chaos. If it's celebration then you can expect no work to take place on 10th as well and so the entire week will be gone just like that.

The above being the case what should your plan as an entrepreneur look like?