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Thinking about Starting

Simple Alliance, Kenya Limited

You sure wouldn’t want to start a small business that would end up being a headache to you, you will therefore want to look at the advantages and disadvantages that lie under doing this to enable you make a wise decision. We shall offer guidance on how to go about making this decision of starting a business.

Follow your heart

You need to determine whether starting a small business is what you want. The urge to delve into business should be from within and not because of any external factors. It should not be driven by pushes from the family or the community. It should be an inborn burning desire that will see you give the business your all and willingly face the challenges that come with it.

Is Entrepreneurship For You?

With the desire to start a business you will need to consider whether attributes of an entrepreneurship reside in you and whether you have what it takes to delve into business. It is important to note that not everyone has the ability to run a successful business. People are cut for different things and not everyone can do business. This you will achieve by determining the characteristics of an entrepreneur and establishing whether you possess them. It will help you establish whether you can handle what it takes to start-up and succeed

Study and understand your market

The idea you have for a business has various aspects of viability and this may work for a specific market segment or area and not in others. It is therefore important that you conduct a market research to help you build a picture of the market conditions that exist in relations to the demographics. A lot of business associations in the Kenyan field will be willing to offer insights on the viability of your business idea in relation to your chosen area of operation.

Seek guidance from the experienced

The role of a mentor at the business start-up stage is one that cannot be ignored and as one who is learning the ropes you need someone to guide you and offer insights on how to go about the many operations that are in the business. Such resources come for free and therefore will not cost you anything but work to ensure that you are working towards success. These will mostly be people who have been where you have been before and conquered all the challenges that face new business owner. There are many mentorship programmes that exist for new and aspiring business owners which you may want to consider attending.

Think about the steps and process involved

With the above carefully thought of it is time to start thinking about the steps that are involved in establishing a business. You will need to think about the model and structure of your business and the many documents required such as a business plan and accounting documents. You also need to think about the laws and regulations that govern the kind of business you have in mind and the professional services you will need during start up and in running the business.

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Josephine Wanja  |  July 06, 2015
Hi,am planning to start a small whole sale shop, kindly let me know which permits I require to have, it is a sole owned business, thank you.