Sole proprietorship business is one of many types of businesses you can start in Kenya.How, where and when to start is not a mean feat to most of us. In an effort to help jumpstart the process for you, we have informative article that will go along way into taking you closer to being an entrepreneur.
Sole proprietorship is a business owned and run by a single person. In this business, the individual is solely responsible for losses and profits registered. Unlike partnership, where a partnership deed is required, in sole proprietorship, you need few personal documents to enter the ‘train’. Here is the process.
Requirement for registration of Sole proprietorship business in Kenya
Business Name:
You need a unique business name which will form the basis of what your company entails.Take your time to think of a unique name everyone would easily memorize.
Conduct a name search
This is the first and most important process in registering a sole proprietorship business in Kenya. Name search can be done in any HUDUMA center-huduma center has several branches across the country.
Postal Address and physical location of the business.
Before you think of registering a business ,ensure that you have a valid postal address number.You need about Ksh3,000 to register a postal address…but if you have one, well and good.
Nature of Business.
You should clearly specify the kind of business you wish to register. During registration ,this is one area that gives applicants hard time. The nature of business can be, research, staff placement, Environmental Impact Assessment, etc. But don’t just indicate that you are going to do consultancy: that is more general.
Other information and documents required are:
- Exact Location of your business.
- You must provide Plot Number and Street Name
- Copy of ID or Passport.
- Copy of College Certificate
- Passport Photo
- Copy of KRA Pin Certificate
- BN2 Form
You will need to have your ID or birth certificate,KRA Pin(this should be your personal pin),copy of college certificate and location of your business. When in the process of registering your company, you don’t need to have an office, you can just indicate in the application form where you intend to operate your business from.
As you plan to start swimming in the murky waters of entrepreneurship, here are some of the sole proprietorship businesses you should give a try.
- Research Company
- Stationery supply business
- Pharmacy
- Logistics Company
- Security firm
- PR Company
- HR Company
- Law firm
- Procurement firm
- Architectural firm
- Real estate agency
- Water company
- Massage parlor
- Dating company
- School/college
Now,the cost of starting and running a sole proprietorship depends on the size you’re aiming to establish. Capital can be as low as Ksh 10,000 and as high as Ksh 20 million. Some of the easiest companies to start include dating sites, research forms and PR company
Finally,you need a website for your business. Venas News will create one for you at Ksh 20,000.What you need is to call 0722927138 and we shall deliver your website in a week’s time.
