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Starting a business is a leap of faith even in the best of circumstances. We at Kuza Biashara are focussed to encourage these daring small business owners who have the potential to innovate and change the world by contributing to the nation’s economy and livelihood.
About Kuza Biashara

About Kuza Biashara

Starting a business is a leap of faith even in the best of circumstances. We at Kuza Biashara are focussed to encourage these daring small business owners who have the potential to innovate and change the world by contributing to the nation’s economy and livelihood.

Blog Experiences Learning

Our top 10 blog articles from 2017

Our top 10 blog articles from 2017

2017 has been a tough year for small business owners in kenya mainly due to the political uncertainty that clouded the country for almost half the year. However, one thing stood out; the resilience shown by small business and sme owners in kenya through this tough times. Through the year however, the kuza biashara blog has remained consistent in sharing informative articles that empower budding entrepreneurs and small business owners to start or grow their businesses.

It’s that time of the year where we reviewed the articles that resonated most with our audience from inspiring life stories from entrepreneurs who had to overcome major struggles to build their business empires to creative business ideas you had no idea we’re viable and motivating articles to get you out of your comfort zone to go out and implement your business ideas.

Here is a roundup of our favorite articles from 2017;

10. 5 REASONS WHY “MACHOPI” (SMART PEOPLE) GET E GRADES IN LIFE, INVESTMENTS AND BUSINESS

You’ve probably gone through the best schools, gotten excellent grades all through your education which helped you secure a job quite fast and now you have a healthy paycheck every month. However, could the fact that you are smart also be a hindrance to your progress in life? This article definitely gives you something to sit down, analyze and rethink the decisions you make in your life moving forward.
www.kuzabiashara.co.ke/blog/smart-chaps/

09. PROGRAM TO EQUIP WOMEN WITH DIGITAL SKILLS, INTERNSHIP AND JOB OPPORTUNITIES LAUNCHED

The Kuza Biashara #SheGoesDigital Program was undoubtedly one of the most successful programs we conducted this year. The program attracted over 600 applicants from all over the country out of whom 50 young women were selected to go through the intense practical training free of charge. After 45 days, 42 young women successfully graduated from the training and were placed for paid internships at leading companies in the country.
www.kuzabiashara.co.ke/blog/digi-training/

08. HOW TO START A SMALL MABATI FACTORY

When you think about starting a mabati factory business, you think big expensive machines and a lot of capital. However, this article gives insight into how you can break through into the mabati industry with about Ksh. 5 Million and make a healthy profit of about Ksh. 4 Million per month.
www.kuzabiashara.co.ke/blog/mabati/

07. HOW TO START A SMALL NAIL (MISUMARI) FACTORY

With a budget of as low as Ksh. 500,000 to as high as Ksh. 1, 000, 000, you could be well on your way to having your own Misumari Factory. This is a great business idea especially due to the booming construction industry in Kenya. This article clearly states all you need to know before venturing into the misumari business and make approximately Ksh. 210,000 profit per month.
www.kuzabiashara.co.ke/blog/nails/

06. MEET NAIROBI WOMAN, FORMER GUARD BUILDING HER CONSTRUCTION COMPANY BLOCK-BY-BLOCK

Tycose Keeru is one of the few women who has climbed the ranks in the male dominated field of construction. A graduate of Kuza Biashara’s Mason’s program to equip masons with digital literacy, entrepreneurship and soft skills, the founder of Typca Contractors has had to overcome a lot of challenges to build the booming construction business empire she runs. Her inspirational story is one of our favorites;
www.kuzabiashara.co.ke/blog/mjengo-business/

05. FROM BORROWING A LAPTOP IN 2013 TO GROWING A MULTI-MILLION CONTAINER BUSINESS IN 2017 – HOW THIS YOUNG MAN MADE IT

Moses Ndura’s story is certainly an inspiration to young people, especially those keen to venture into entrepreneurship. At barely the age of 30, the founder of Container World Kenya proves that you do not need a bank account full of cash to build your business empire. If you have been notorious for procrastinating implementing your business idea, Moses’ story will challenge you to get off your comfort zone.
www.kuzabiashara.co.ke/blog/container-business/

04. 10 SIMPLE IDEAS YOU CAN START WITH AS LITTLE AS KSH. 1000 CAPITAL

This is one of those articles that totally demystifies the mindset that you need hundreds of thousands to millions to start a business and make a healthy profit. With a little as Ksh. 1000, you can venture into any of these 10 businesses, start small and eventually grow into a full fledged business;
www.kuzabiashara.co.ke/blog/simple-start/

03. WHY MOST SUCCESSFUL BUSINESSES IN KENYA ARE PECULIARLY LINKED TO NAKURU

What comes to your mind when you think of Nakuru? The flamingoes, the sizzling Menengai crater or the friendly locals? Despite its calm exterior, Nakuru town is responsible for some of the most successful businesses in Kenya. Read all about it in the article below;
www.kuzabiashara.co.ke/blog/peculiar-nakuru/

02. HOW EMPLOYED PEOPLE REMAIN POOR DESPITE WORKING FULL-TIME, SAVING AND INVESTING

Most of us wake up early every morning to go to work so as to create a better future for ourselves and our families. However, does the comfort that employment provide also contribute to the costly misinformed decisions you are prone to make. This article is certainly an eye opener for us employed folks.
www.kuzabiashara.co.ke/blog/working-poor/

01. HOW DID THAT FOOL OVERTAKE ME? MATATU TOUT VS. BANK EMPLOYEE

This article takes the crown of our favorite article from 2017 because of how the writer paints a clear picture of how the choices we make in life have long term implications that you may ignore especially if you are short sighted with your goals. If you haven’t read this article yet, you have no idea what you are missing out on.
www.kuzabiashara.co.ke/blog/tout-vs-banker/

FINAL WORD

Do you have any favorite articles from the Kuza Biashara Blog in 2017? Feel free to share with us in the comment box below.


Blog business Learning

How to Make Ksh. 30, 000 Monthly from Dhania Farming

How to Make Ksh. 30, 000 Monthly from Dhania Farming

Dhania is a popular spice in Kenya commonly used in stews and kachumbari. Universally known as coriander, dhania is loved because of its pleasant aroma and the delicious flavor that it adds to food.

Getting into dhania farming is a profitable venture due to its high demand both locally and internationally. A report by Farm Biz Africa stated that the international demand for dhania and similar herbs has gone up by 40% with farmers gaining more revenues of up to 25% compared to traditional crops. If you are interested in making money out of dhania farming, here is what you need to know:

STEP 1: GETTING SEEDS AND LAND PREPARATION

You can get quality dhania seeds from Kenya Seed Company, Simlaw Seeds, Kenya Highlands Seed Co. Ltd and other seed companies for Ksh. 1000.
After tilling land, plant coriander seeds in drills 30cm apart at a sowing depth of 2.5cm – 3.5cm. You should expect germination to take place 10 days after sowing.

Dhania seeds

Dhania seeds

STEP 2: MAINTENANCE

To control weeds, thin the plants when they get to 7-15cm.
Dhania also requires regular watering as the plant responds well to even distribution of moisture. Also ensure the soil is rich in manure. If not, apply well decomposed organic manure regularly.
Some of the challenges you’ll face are attacks from pests like aphids and diseases like bacterial leaf spot, soft rot and powdery mildew. However, these are easily controlled through maintaining field hygiene, crop rotation, seed dressing and using disease free seeds. Spraying with pesticides and fungicides is not recommended unless it is necessary.

STEP 3: HARVESTING

Dhania matures for harvesting within 4-6 weeks after planting. Start by harvesting the largest ones first to allow the smaller plants to grow. It is advisable to harvest dhania immediately the leaves are ripe for harvesting lest they get feathery and turn yellow.
For storage, soak the roots of the harvested dhania in water to keep them fresh.

harvested dhania
harvested dhania

INVESTMENT

For an acre plot of land, dhania seeds will cost you Ksh. 1000 in order to obtain maximum yield. Dhania is a fairly easy crop to maintain and you do not need to spend so much on labor. You can expect to make a profit of Ksh. 30,000-35,000 monthly.

FINAL WORD

Dhania farming is a great side hustle if you wish to make extra cash. Planting dhania is also profitable, given it is not a labor intensive crop and does not require a lot of maintenance. Dhania also has ready market both locally and internationally. Coupled with the fact that dhania doesn’t take too long to mature, that makes it is an attractive hustle to venture into.


Blog business Experiences

7 Apps that Will Help transform your Sales

7 Apps that Will Help transform your Sales

If you are looking for different ways to ensure that your sales increase, you may need more than just an advertising team. You need to make maximum use of current resources and productivity. You might need a new approach to solve problems that may arise and to keep a closer look at your team’s work. You will also need proper analytics, data, and insights. There are some things that Salesforce cannot do but luckily, there are some apps that will help you get all that is missing.

There are very many apps you can use to help increase your sales but here are the best apps that you need:

  1. Inside View

This app’s main aim is to deliver the right messages at the right time and to the right person. It triggers events and analyzes your social network connections. If your sales force contact base is a bit lacking, Inside view will provide you with updating and import features. It also lets you monitor over 30,000 sources so as to get sales intelligence. Sales intelligence helps you to execute shifts, business mergers and release of new products. Those in your sales team can also look at valuable information from prospects and it lets you track activities from their profiles and also act at the right moment.

  1. Market analytics

This app helps you boost your marketing campaigns and improve the quality of your leads. It easily helps you create landing pages on your website. It also has an in-built lead scoring ability. The system handles lead scoring with a fresh approach and saves effort and time.

  1. Demand tools

Salesforce tools such as Salesforce DX can be time-consuming. This app (https://www.flosum.com/flosums-integration-with-salesforce-dx/) aims to provide you with an improved and more enhanced structure while also automating some tedious admin duties. It also removes duplicates and cleans up standardized data so as to sort it easily.

  1. Cirrus Insight

If you are using Google apps along with Salesforce, cirrus insights will help you integrate sales force with Office 365. You can also track emails and see when and where they have been opened and on which device. Integration is easy and fast. It makes managing effortless.

  1. Conga compose

This app will help take your sales force fields and objects and turn them into documents. It works very well with HTML-based emails and PDF forms to help you create more invoices, proposals, and quotes. It uses existing rules to distribute and craft reports automatically. The most valuable feature has to be its ability to integrate into your existing Salesforce workflow. You can also schedule solutions and use event triggers to increase productivity.

  1. Geopointe mapping Analytics

Many businesses or companies need to unlock customer data and Geopointe provides companies with systems that work in a similar way to Google maps. They help create boundaries and assign territories. This tool also helps improve the productivity of salespeople.

  1. Gravity Forms and WordPress

Gravity forms plugin will move data from your contact forms to your sales force. You may also use the built-in-web-lead system.

 

Author bio
Sujain Thomas is an app developer and business marketer who has worked with flosum.com for 6 years. She uses Salesforce tools to implement ideas and develop apps add-ons.

 


Blog business Learning

10 Tips for Finding a Workplace Dream Team

workplace dream team

In today’s world, working in line with a team of good employees is important if you want to attain success. Good employees will keep your business afloat in a variety of both predicted and unforeseen situations. Simply put, whether you are the CEO, manager, or undisputed company superstar, the future of your company does not depend on you. It’s all about your employees. For most companies, however, finding good employees has become hard and seems to be getting harder all the time. A recent study indicates that 68% of human resource departments report problems filling positions. This has gone up from 50% in 2015. If you can’t find good employees, here are ten tips to help you find a workplace dream team.

1. Use Social Media
Facebook, twitter, and other interactive platforms have not only changed how we do business but have also transformed how companies recruit employees now days. Hiring managers and recruiters are increasingly using social platforms to search for talent. You should also use these platforms to find employees as well. Use social media targeting features to reach people who match the talents, region, and even hobbies that you require.

2. Take Advantage of Recruitment Organizations
In-house recruiters are relying on recruitment agencies to fill vacancies. Recruitment organizations align their support with your goals and help you cut costs that you would otherwise spend on conventional methods of hiring and recruiting candidates. If you are looking for IT professional, for instance, you can partner with IT recruiting agencies to ensure you get exceptional IT experts.

3. Break Geographical Barriers
The world has evolved, and geographical limitations should not stop you from getting the employees you want. Technology lets you connect with people around the world. Use it to look for employees beyond your locality.

4. Use Your Current Team to Find New Talent
Your employees know everything about your company and can give potential candidates a real insight to your business. They understand your company’s values and expectations and will help you bring in people with the necessary experiences and expertise.

5. Figure out What Positions Job Seekers Are Looking For
When posting a job opening, you want to make sure what you post compliments job searchers needs and ambitions. A simple research online and offline will help you know what job searchers want and help you come up with titles and content that match what most job seekers are looking for.

6. Use Mutual Connections
Use your colleagues, former colleagues, and friends to get new talent. Those close to you know more about you and your company and will recommend the right type of candidate who would help you enhance productivity. Use mutual connections to learn more about a candidate. This will not only help you get competent employees but will also influence and motivate employees to live up to their reputation.

7. Use Emails to Hire Candidates
Email communication has become an integral part of the recruitment process, and more recruiters are embracing it. When it comes to emails, job seekers are incredibly responsive and are more likely to pay attention to what you are saying. Use emails to reach the candidates that you need.

8. Contact Previous Candidates
Don’t let the resumes and data of previous candidates collect dust in your desk drawer. Use them. Previous applicants can be turned into a talent gold mine. They know about your company and are interested in working for you. Contact them.

9. Target Your Rivals’ Employees
If you are in an industry where there is stiff competition, poaching for talent can help gain an edge. A recent study reveals that employees who are contracted to work for an organization that competes with a former employer come in with enhanced energy and motivation that translates to increased productivity.

10. Use Paid internships
Investing in paid internships will help you lure the brightest and most talented candidates available on the job market. Internships allow you test the waters and help you identify which of the interns suits your needs and wants.

Final Word – With these tips, you will certainly find a workplace dream team.


Blog business Learning

GUEST:ALL YOU NEED TO KNOW ABOUT STARTING A BUSINESS AND SURVIVING THE FIRST FEW MONTHS

ALL YOU NEED TO KNOW ABOUT STARTING A BUSINESS AND SURVIVING THE FIRST FEW MONTHS

Starting your own business isn’t for the faint of heart. It’s stressful and pretty much demands your complete focus. On the plus side, it can also be a fulfilling experience professionally and personally.

Do a self-inventory:  Not everyone has what it takes to start a company. That’s not to say that your idea is not brilliant. It just means that you may not have the personality traits to handle launching a company of your own. Before investing any time or resources, evaluate yourself and see if you have some the typical traits of an entrepreneur. Are you motivated, able to adapt and confident? Are you resilient? Do you have personal integrity?

Develop an idea:  Don’t just start a business because something is in vogue and you think commercializing it will make money. Develop a business concept that you’re passionate about related to something that you have experience with. From there, come up with a product or service that you believe can enhance the people’s lives.

Test the plausibility: Once you’ve settled on an idea, figure out how you can make it become a reality. Is the product or service something that people want or need? Can you make a profit selling it? Does the product work?

Write a business plan:  A solid business plan will guide you going forward. It’s also needed for presenting your idea to potential investors. Your business plan should include a mission statement, a company summary, an executive summary, a service or product offerings, a description of a target market, financial projections and the cost of the operation.

Identify your market:  Even though you may have detected some interest in your business, you need to do more homework. Assess the market, targeting the customers most likely to make a purchase. Perform a competitive assessment.

Determine the costs: Do additional research and find out the standard cost factors within this industry. Not only will this help you manage your business more effectively, investors will want to know this.

Establish a budget:  Once you determine how much money you’ll have to work with, figure out how much it will take to develop your product or service and create a marketing plan.

Find the right investors:  You’re going to need some sort of funding to start off, whether from your savings, credit cards, loans, grants or venture capitalists. Find an investor who shares your passion, someone you believe you can work with.

Listen to investors: Whether you like it, investors do have a say in your company. And you need to listen to their advice or suggestion. But that doesn’t mean you have to do what they tell you.

Set up a great support system:  You’re going to be investing a lot of time and resources into your new business venture. Be certain that your family is on board. They must be aware that this process will be challenging financially and emotionally.

Determine the legal structure:  Settle on which form of ownership is best for you: a sole proprietorship, a partnership, a limited liability company, a corporation, an S corporation, a nonprofit or a cooperative.
Select a business name:  Decide on a name that best suits your business. Then check to see if the domain name is available online, as well as if it’s free to use in your county, state and in the country.

Register your business name:  If your proposed business name is available, register it with the government, have it trademarked and secure a domain name.
Take advantage of free resources: to enhance your business skills, numerous free resources can offer advice, training and assistance.e.g kuza biashara, mara mentor #askkirubi etc.

Determine tax obligations: Now it’s time to wrestle with the tax obligations.

Secure permits and licenses: Ensure you begin the application process for permits and licences early enough since some of these processes take quite some time.

Buy insurance:  Make sure that you arrange for the proper insurance for your business. This will vary according to the type of business. If you’re working from home be sure that your homeowner’s insurance covers theft or damage to business assets, as well as liability for any business- related injuries.

Set up the accounts books:  Figure out if you’re using a cash or accrual system, determine the fiscal year for the business and set up a recordkeeping system.

Choose a business location: Select a location that best fits the needs of your business, one that offers an opportunity for growth, the right level of competition and proximity to suppliers. It should also be accessible to customers.

Don’t worry about an office: If you’re not making any revenue, then don’t concern yourself with an office or warehouse just yet.

A patent can wait: Patents can cost thousands of dollars. Wait to pursue this route until you have a few customers paying the bills. A patent is less useful if you can’t enforce it or have the money to see it through.

Be flexible: Chances are that your original idea will have to be modified. Being able to pivot and adapt to create what customers want will determine if your business will fail or succeed.

Share your ideas with friends and family: Your nearest and dearest will most likely be the most honest with you about your business. Don’t hesitate to seek their advice and suggestions.

Ignore the naysayers: At the same time, there’s a difference between constructive criticism and someone’s quick jab projecting that your business will fail. Always ignore them.

Don’t become angry: If your idea is rejected by customers or investors, don’t just succumb to anger. Find out what they didn’t like, make adjustments and go back to them when you’ve made the changes. There’s the possibility that the timing was wrong as well.

Deliver the product or service fast: Your business is a work in progress and if you launch your product or service quickly, you will be able to build a community of customers who can provide valuable feedback that can help you improve the offerings.

Offer new products or services: If you already have customers, be sure to hold on to them by providing new products or services.

Be patient: Always keep in mind that success won’t happen overnight. It’s going to take some time before you make a profit.

Over deliver at first: Once you land a new client, be sure to go above and beyond the call of duty for at least the first month. You’ll have this customer hooked from then on.

Blog all the time: Don’t be ashamed to share both your triumphs and struggles. Customers will enjoy your honesty.

Avoid fights with partners: If you have disagreements with partners, then sever ties as soon as possible. In-house bickering will prevent you from focusing on growing the business.

Don’t worry about dilution: So an investor has required a stake in the company. Recognize the fact that eventually at one point or another you’ll have to give up some control of the business. Accept it and move on.

Hire a copywriter/secretary:  Unless you’re an excellent writer, hire a copywriter to compose emails for highly targeted customers. A copywriter will also prove handy for press releases and other pieces to spread brand awareness or provide business updates.

Prepare for meetings: When preparing for a meeting with a client, read up on everything that’s available, steeping yourself in information about the industry, that firm’s employees and its competition.

Don’t fear the competition: Don’t bad-mouth the competition when talking to investors or customers. There’s no need to become an object of pity. In fact, talking in this manner might even point customers to a competitor who may offer a product or service that you don’t. Remember, when competition exists, there’s a market for your business. Use that knowledge as inspiration to outperform a rival.

Benefit from word-of-mouth: Nothing beats some good old-fashioned word-of-mouth marketing. Let friends, family members and influencers in your field spread the word about your product or service.
Network: Don’t be afraid to get out there and show your face to the public, whether at a conference or just being out and about with friend on a Friday night. But try to stay local because travel can dwindle your budget.

Provide outstanding customer service: Interacting with people is a big part of the job. Your business may gain new customers because you made them feel important.

 Be sure your website functions: Potential customers want to know as much about your business as possible and they should be able to quickly access that kind of information on your website.
Don’t be overly concerned by the economy: Some of the best businesses have launched during a recession.

Make sure clients pay their bills on time: Always be certain to receive payment for your products or services. Instead of being taken advantage of, establish a time frame for payment. It also wouldn’t hurt to accept credit cards and have an online payment system set up.

Find the right employees: Hire the right people for the job. Even though it’s your business, you won’t be skilled at every task, which is why you need qualified people to complete the work.

Assign responsibilities: Delegate attainable tasks to employees. This is all about effective management.
Know that honesty is the best policy: If any issues with employees emerge, be sure that they are addressed. No one enjoys being talked about behind their back.

Remember that opposites attract: Hire people with skills and personalities that are the opposite to yours. They’ll challenge you and will bring different skills and talents to the business that you don’t.

Say goodbye to your social life: You’re going to spend a lot of time devoted to the business. Even if you plan a night out, you may leave early because a light bulb just went off. Hopefully those closest in your life will understand.

Recognize that you’ll be the final person to be paid: As the CEO, you’re the last to collect a cheque. That’s just how it works until there’s adequate revenue.

Arrive at a useful definition of success: Just because your business hasn’t made you a millionaire (yet) doesn’t mean that your enterprise is a failure. If you’re able to make some sort of profit doing something that you’re passionate about, isn’t that a success story?

Realize when it’s time to move on:  Failure is inevitable. If things aren’t working out and you’ve done all you can, then put aside your pride and close up shop. Something like this is not easy to accept. But it’s for the best.

Don’t just rely on the advice of others: Despite my offering up all of these tips for you, perhaps the most important piece of advice is something learned the hard way: While many people may offer a startup assistance, recognize that in the end you’re the person running the show and the one responsible for the company’s success and failure. If you understand what worked and what didn’t, you’ll burnish the skills and knowledge to run your business.

 


Blog business

Why Is It Difficult For Female Entrepreneurs to Get Investors?

Image Courtesy | Odyssey Online

For some reason, many investors prefer investing in men compared to women. Access to funding is one of the biggest challenges for women entrepreneurs. Female Entrepreneurs, regularly ought to make greater effort to show their credibility compared to male entrepreneurs, especially when dealing with Venture Capitalists who are a male-dominated group.

This may be due to the predetermined notion that women are not as competent as men as far as Entrepreneurship is concerned.

In this article, we look at some predictable reasons for why female entrepreneurs find it more difficult to get funding.

1. Entrepreneurship Experience

The lack of practical entrepreneurial experience is one of the reasons why women fail to get proper funding. Many women lack entrepreneurial aptitude because of lack of practical experience.

Aspiring women entrepreneurs have to first get practical experience in the field they hope to venture into before they begin implementation of their business ideas. This will help them get some exposure and help them to better handle challenges they face in entrepreneurship. Practical experience in entrepreneurship greatly compliments the knowledge we get from books and studies.

2. Mobility

Due to having to juggle between family commitments and professional life, many women entrepreneurs are not able to give their 100% to entrepreneurial ventures. Cultural restrictions imposed on women in certain places also serve as a challenge since women don’t have freedom to travel to business meetings and move around to fulfill their commitments.

However, the hassle lies within the perception of every individual. To overcome this, women should ensure they have support of their close circle of relatives and friends when they decide to venture into business. Whether you are a married woman or a single woman, the support and the encouragement of family is vital. Women also need to establish a balance between household commitments and business pressures.

3. Venture Capitalists

Venture capitalists prefer to invest in startups run by people they know directly or indirectly since they trust them more. However, the gender gap between men and women in entrepreneurship highly favors men posing a challenge to female entrepreneurs who often have to work twice as hard to secure funding from venture capitalists.

Female and male entrepreneurs may have similar qualifications, however, the minor gender-based variations pose a challenge but then, hope and possibility remains. Women should not only be encouraged to get into entrepreneurship but also to become venture capitalists so that they can help other women to come up.

4. Profile

Many people think that the profile of a successful entrepreneur is that of a man. If you try to think about it, you’ll understand how true that is. Whenever it comes to giving an example of successful entrepreneurs, we take into account Bill Gates, Mark Zuckerberg, Steve Jobs, and Dhirubhai Ambani etc.

That is the same image in the thoughts of financial establishments too. They have an opinion that men could be extra reliable than their female counterparts.

To overcome this, we need to change our mindset to embrace and celebrate women in business. As much as we also appreciate the contribution made by reputable men in the entrepreneurship world, we shouldn’t forget the women who have conquered the world.

5. Networks

Having lesser networks is also a reason for female entrepreneurs not getting funding. That’s due to the fact that networking uncovers possibilities where they may not be apparent, giving entrepreneur’s access to capital and management when they require it. A person with contacts of 100 members is much less probable to know someone who is powerful than a person with 300 contacts in their network.

A recent study found that women have smaller networks than men, spend less face time with their seniors, and are much more likely to have a network made up of different women. All of that adds up to fewer opportunities and the notion that Women founders lack network contacts.

Women are hindered in building networks due to the fact that they have a tendency to be worried about their work-life stability.  All the studies about networking display that men generally tend to spend extra time with men, while women frequently have very balanced networks.

Final Word

Over the past years, female entrepreneurs had to prove themselves in the male dominated world of entrepreneurship where for a long time, they haven’t received the same treatment when it comes to opportunities. However, this trend has been changing. Women have proved their worth in all fields.

There have been several trials made my social activists to offer girls equal opportunities in all areas, which helped to enhance the situation. But still, there is still more work that needs to be done. Few investment corporations have been initiated with women entrepreneurs who made it big. Considering the gender bias in Venture Capitalist funding, there should be a change. When more women get into entrepreneurship, then more Venture Capitalists can see successful women entrepreneurs. And women entrepreneurs should change their approach towards networking in order to secure Venture Capital.

Even though many entrepreneurs face gender discrimination yet there is a hope that there are as many experienced successful women venture capitalists that started their own enterprises, and they keep inspiring the other Women to succeed.

Author Bio:

Pritam Nagrale is a blogger and running a digital marketing company in Mumbai. His blog SureJob writes about make money ideas & tips on career development.


Blog business

Need Funding for your Startup? Read This

NEED FUNDING FOR YOUR STARTUP?

For the past few years, most Kenyans have been warming up to entrepreneurship with a huge number of startups being launched and a majority of employed Kenyans having their side hustles.

However you’ll agree with me that one of the greatest challenges facing entrepreneurs when starting out is access to capital. You also can’t rely on bank loans in Kenya due to high interest rates and having to provide collaterals.

An opportunity that most Kenyan entrepreneurs haven’t fully taken advantage of though is the public funds provided by the government for helping young entrepreneurs get their startups up and running. These funds also come with limitless benefits such as zero interest on loans and business training.

So far, the government has set aside more than Ksh. 25 billion for the sole purpose of creating a culture of entrepreneurship among youth and women in Kenya. Still, not too many Kenyans are taking up these funds and early this year, the government rolled out a sensitization campaign to encourage people to take advantage of the funds.

If you are looking out for capital for that business idea, here are the top 3 government funds you can tap into;

Uwezo Fund

Uwezo
Uwezo Fund

Are you a registered youth or women group keen on starting a business or expanding your existing business? Then the Uwezo fund is for you. This fund is administered at the constituency level through the Constituency Development Fund.

At the constituency the fund is run by the Constituency Uwezo Fund Management Committee which determines the amount of money to give to a group. Each qualified group is eligible to an interest free loan of between 50,000 – 500,000 Kenya shillings. However a 3% administration fee is charged.

To apply for the Uwezo fund here are the main requirements;

  1. Be a registered youth or women group, preferably active for the past six months with evidence of minutes of your meetings.
  2. Be organized in form of a table banking (chama) structure where members make regular contributions. Evidence of this contributions will also be required.
  3. Have a bank account in the group name, with the bank statements to prove it.
  4. The group must be based and handle their operations in the constituency they intend to borrow funds from.
  5. You must also get a recommendation from your local chief.
  6. Provide photocopies of ID’s and KRA pins of group members.

You can apply for Uwezo Fund by downloading the application form on their website or visiting the Uwezo Fund Management Committee offices in your constituency.

Women Enterprise Fund

Women Enterprise Fund
Women Enterprise Fund

For the longest time, Kenyan women have been marginalized when it comes to financial inclusion. Major challenges Kenyan women have faced include lack of capital, limited access to markets, fear of loans, financial illiteracy, religious and cultural factors and lack of collateral.

It is for this reason that the Ministry of Public Service, Youth and Gender Affairs initiated the Women Enterprise Fund to provide accessible and affordable credit to support women start and expand their businesses.

If you in a women’s group/chama, here are some benefits you are missing out on if you have not yet registered for the Women Enterprise Fund;

  1. Interest free loans – Through the Constituency Women Enterprise Scheme (CWES), women groups can access the Tuinuke loan which is given to chamas at zero interest. A group could have 100% women or 70% women and 30% men. Even though the loan is interest free, the group is required to pay 5% administration fee.
  2. No collateral required – Unlike bank loans, the Tuinuke loan does not require you to provide log books or title deeds. Instead, the women serve as a guarantee to each other.
  3. Financial Training – The WEF fund places great emphasis on financial and business training for women. Actually, getting trained on business management skills by WEF officers is a prerequisite for loan application.
  4. Easily Accessible – You don’t have to incur insane transport costs to access the WEF loan. The funds are decentralized and can be easily accessed through your local constituency offices.
  5. Easy to pay back – The Tuinuke loan can be paid back through M-PESA.
  6. WEF Soko – This is an online marketplace where products of WEF beneficiaries are showcased for purchase. Successful groups are also trained on product development, certification and are linked to local and international markets.

Youth Enterprise Development Fund

Youth Enterprise Development Fund
Youth Enterprise Development Fund

Established in 2006, the main purpose of the YEDF fund is to provide financial and business development services to youth between ages 18 – 35 who are keen on starting or expanding their business.

Even though the fund has been tainted with a number of scandals concerning mismanagement and corruption, slightly over 800,000 youth have benefited from it since its inception.

If you are a young entrepreneur, here are three YEDF loans you can benefit from;

i. Constituency Based Loans – This loan is available to individuals and registered youth groups at the constituency level looking for funds to start up a business. It is also interest free.

ii. Vuka Loan – This is a business expansion loan limited to youth who are looking to expand their existing businesses. It is the only YEDF loan where one is required to pay back with interest. The interest rate had been set at 8% until July this year where the interest rate was dropped to 6% which is still way cheaper than the current bank rates. The Vuka loan is open to individuals, partnerships and youth owned limited companies.

iii. Bid Bond/LPO/LSO Financing – This fund is eligible to youth participating in government tenders. It’s open to individuals, registered youth groups, partnerships and youth owned companies. The maximum amount available for a bid bond is 2 million while for an LPO/LSO loan the maximum amount is 20 million.

 

Final Word – Our government may have its weaknesses but we can’t fault them for not looking out for small businesses and upcoming entrepreneurs.

Have you tried out any of these funds? How was your experience?


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GUEST: He Gave Up Looking For A Job After Hopeless Tarmacking; Today His Business Generates A Ksh5Million Turnover

David Kyalo Afriqque Ventures

With the fast growing rate of unemployment in Africa, coupled with the rising cost of living, many individuals are looking for creative ways to generate income in a bid to make ends meet. And with music concerts and live events gaining popularity, young entrepreneurs are discovering new ways capitalize on this trend. One such entrepreneur is David Kyalo, the Managing Director of Afriqque Ventures. Continue reading