Browsing: KenInvest

Most entrepreneurs have not prepared a succession plan for their businesses in case of their departure which has led to the collapse of many Small and Medium Enterprises (SME) in the demise or the absence of the business owner. Many SMEs also do not have comprehensive risk and asset management solutions. SMEs must develop a succession plan for their businesses according to Invest In Africa (IIA), a Not-for-Profit entity which is working to enhance the skills, improve access to markets and finance of SMEs. The institution which has partnered with a number of huge companies is leveraging on its online platform–Biashara.Now to create linkages between SMEs, suppliers and financiers.

Why most SMEs die after founder’s exit, way forward

Entrepreneurship

Most entrepreneurs have not prepared a business succession plan for their businesses in case of their departure, industry players have noted, which has led to the collapse of many Small and Medium Enterprises (SME) in the demise or the absence of the business owner.

In most cases, it is the owner who carries the vision of the business and ensures that the business remains afloat.

Additionally, most SME’s do not have comprehensive risk and asset management solutions, which leaves them greatly exposed to manageable risks and therefore stand a very slim chance of recovering their business in case of an event.

This was reported during an Invest In Africa-Kenya and Liberty Life Insurance forum in Nairobi this week, attended by over 60 SMEs.

The forum was convened to discuss business sustainability beyond the owner under the theme: “Beyond the Business: Is there tomorrow for your company?”

Speaking at the event, …

KEBS

How Kenya’s informal craftsmen are benefiting from Standards body

Kenya

The Kenya Bureau of Standards (KEBS) is spearheading a countrywide inter-agency initiative targeting stakeholders of Kenya’s informal craftsmen popularly known as Jua Kali to unlock barriers hindering their growth. KEBS, whose key mandate is to ensure standards are adhered to while ensuring fair and just trade, is working with the Kenya Revenue Authority, Anti-Counterfeit Authority, Export Promotion Council, KenInvest and Youth Enterprise Fund.

In the past stakeholders mainly from the Kenya National Federation of Jua Kali Association have cited tough regulations that introduce layers of red tape across government agencies as huge barriers to their survival.

“We are cognizant of the key role the MSME sector plays in Kenya’s economy. These forums are important to not
only understand their challenges but also explore ways of working across agencies to create an enabling environment anchored on simplified procedures and regulations,” said Dr. Henry Rotich, Director of the Metrology and Testing Division …